Required: 1. Compute the annual ordering cost. 2. Compute the annual carrying cost. 3. Compute the cost of Ottis's current inventory policy. Is this the minimum cost? No %24

Q: Lamas has the following products in inventory at the year end: Selling Price P 65 P 23 P 25 Selling…

A: As per accounting standard 2, all inventories in the business should be valued at lower of cost or…

Q: The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales…

A: Ending units=Beginning units+Purchases -Units sold=260+340+440+190-800=430 units

Q: Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost,…

A: * Answer 4,6 and 8 is only asked   Inventory turnover ratio = Cost of Goods Sold/ Average Inventory…

Q: Presented below is information related to Manama Company Cost $550,000 2,100,000 Retail $600,000…

A:

Q: The Danson Co. uses the periodic inventory method and had the following inventory information…

A: Cost of goods sold: (d) FIFO (e) LIFO (f) Weighted Average Units Amount ($) Units Amount ($) Units…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: "LIFO" stands for last-in, first-out, meaning that the recently purchased inventory items are…

Q: You are provided with the following information for Bonita Inc. for the month ended June 30, 2020.…

A: Date Description Quantity Unit Cost Total Cost Jun-01  Beginning Inventory 41  39  1599  Jun-04…

Q: Caminas has the following products in inventory at the year end. Product Quantity Cost Selling…

A: We have the following information: Product : AQuantity: 1,000Cost: $40Selling Price: $55Selling…

Q: Ok, so I have determined the cost of goods sold and value of ending inventory for the month of…

A: Ending Inventory units = 40 units Weighted average cost per unit = $ 3.458 Value of Ending inventory…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Ending inventory refers to value of goods readily available for sale and held by company at end of…

Q: (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross Margin

A: A perpetual inventory system is the inventory system where the level of inventory is updated…

Q: WHAT IS THE WEIGHTED-AVERAGE COST PER UNIT BASE OFF THE CHART??   You are provided with the…

A: Weighted average unit cost of inventory means on an average what will be unit cost of inventory.…

Q: Telamark Company uses the moving weighted average method for Inventory costing. Requlred: The…

A: 1. Weighted Average Method - Under Weighted Average Method Inventory are valued at average cost of…

Q: What is the amount of inventory on March 31 using the moving average cost flow technique? During…

A: Moving Average Cost method of Inventory Valuation is a method of Perpetual System i.e. the unit cost…

Q: What is the estimate of ending inventory using the dollar-value LIFO retail method?

A: Beginning inventory layer at base year retail = Beginning inventory at retail ÷ Base cost index…

Q: Paul Company uses its periodic inventory system and you are given the following information:…

A: Calculate cost of goods sold:

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: LIFO is last in first out method for inventory valuation, which says that inventory purchased at…

Q: What is the amount of inventory on March 31 using the moving average cost flow technique? During…

A:

Q: Alternative Inventory Methods Nevens Company uses a periodic inventory system. During November, the…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: William Company uses the periodic inventory system and theaccounts reflected the following data:…

A: In this numerical has covered the concept of LIFO and FIFO method for valuing the inventory.  FIFO…

Q: The following information is available for Goode Company: May 1 Beginning inventory 18 units @ $4…

A: Perpetual inventory system: Under this inventory system, the records of inventory are continuously…

Q: Cost of Goods Sold As an accountant for Lee Company, your supervisor gave you the following…

A:

Q: Given the following information for the Raquel Company who uses the periodic inventory system: Date…

A: Under lower of cost or NRV method, the inventory at the end of the year has to be reported at cost…

Q: Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory…

A: Inventory valuation methods are based on the flow of inventory used by the firm. There are several…

Q: You have the following information for Coronado Inc. for the month ended June 30, 2022. Coronado…

A: Sales Transactions   Date   Units  Price  Sales Value (units x price) 10-Jun Sales 110 53 5830…

Q: Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to…

A: Perpetual inventory system: Under this inventory system, the records of inventory are continuously…

Q: The value of ending inventory rounded to the nearest dollar using average cost is (R« places.) Oa.…

A:

Q: the following information for Coronado Industries for the month ended October 31, 2022. Coronado…

A: Periodic inventory system: It is inventory system which involves the physical counts of goods at a…

Q: he following data are available for Sellco for the fiscal year ended on January 31, 2020:…

A: Calculation of COGS and ending inventory: FIFO COGS= (500*4)+(600*5)+(500*6) =2000+ 3000 +3000 =$…

Q: Riedel Company's inventory records showed the following transactions for the fiscal period ended…

A: Introduction LIFO means Last In First Out - from the name itself we can understand, items purchased…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the FIFO…

A: FIFO (First-In-First-Out) is a way of inventory valuation wherein the goods which are purchased…

Q: The inventory of LA VIDA Company at the end of the year is to be recorded at the lower of cost and…

A: Net realizable value means the amount that could be received after deducted all incidental expenses…

Q: Required: a. Calculate cost of goods sold and ending inventory under the following cost flow…

A: a.   Units Rate cost Beginning Inventory 1000 $4 $4,000 Purchases 1200…

Q: Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below…

A:

Q: Use the first-in, first-out (FIFO) cost allocation method, with perpetual inventory updating, to…

A: FIFO: FIFO stands for First-In, First-Out.  In this method inventory purchased first will be sell…

Q: Ross Electronics has one product in its ending inventory. Per unit data consist of the following:…

A: Given:

Q: UMET's Stores had the following inventory transactions in 2020:                       Transaction…

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: sing the gross profit method with the following cost data, estimate the cost of ending inventory.…

A: Ending inventory is the value of inventory remaining unsold at the end of the period.  The inventory…

Q: Use the first-in, first-out (FIFO) cost allocation method, with perpetual inventory updating, to…

A: Total value of beginning inventory=120×$46=$5,520

Q: Given the following: Number purchased Cost per unit Total January 1 inventory 39…

A: Average Rate = Value of goods available for sale / No. units available for sale   1. April 1 =…

Q: The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales 800…

A: Inventory valuation is based on the flow of inventory used by the organization. There are several…

Q: Neyman Inc. has the following data for purchases and sales of inventory: Date Units Cost per Unit…

A: Cost of goods sold includes all the direct cost of a product that are incurred in its…

Q: 1.Calculate average-cost per unit. 2. From these data compute the ending inventory on each of the…

A: Average Cost per Unit - Formula Total Cost of Purchase Unit / Number of units Total Cost of Purchase…

Q: Presented below is information related to Blowfish radios for the Hootie Company for the month of…

A: The inventory valuation methods value the inventory on different basis like FIFO, LIFO and weighted…

Q: You are provided with the following information for Guillaume Inc. for the month ended June 30,…

A: Under FIFO METHOD:: BBeginning inventory::40*P40  =P1600 June 4:Purchases::135*P44 =P5940 June 18…