Unit Cost Units You sell 100 units in $2.00 June. Calculate the cost of goods sold using cost averaging. Received June 4 70 June 11 30 $3.00 June 18 60 $2.10 June 25 40 $2.40 A. $2.22 B. $2.10 C. $2.30 D. $2.26
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| Units | Unit cost | Units × unit cost | |
| June 4 | 70 | $2 | $140 |
| June 11 | 30 | $3 | $90 |
| June 18 | 60 | $2.1 | $126 |
| June 25 | 40 | $2.4 | $96 |
| Total | 200 | $452 | |
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- Reset the November 20 purchase to 150 units, including column G. To test your formulas, suppose that Del had sold 600 units rather than 500. Sales now total 384,000. The extra units sold come from the May 13 purchase (25 units) and the November 20 purchase (75 units). Change cell B17 to 600 and cells D32 through G32 to 384,000. Alter columns E, F, and G in the Data Section to reflect the change. Your formulas should automatically redo the Calculations and Answer sections. Print the results again.The following relates to a single sale of goods made by Spurs in 2023: Selling price P500,000Freight costs 5,000Terms 3/15, n/30Shipping Date December 28, 2023Date goods received by the customer January 3, 2024Date payment is received by Spurs January 5, 2024 Question:9. If the term is FOB destination, how much sales should be recorded by Spurs for the year ended December 31, 2023? a. P0b. P490,000c. P495,000d. P500,000The Oman company exported 200 gauge wires. The cost per unit OMR 140. What is the entry of cost of goods sold?Select one:a.Cost of goods sold Dr14,000Inventory Cr14,000b.Cost of goods sold Dr140Inventory Cr140c.Cost of goods sold Dr28,000Inventory Cr28,000d.Inventory Dr28,000Cost of goods sold Cr
- May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company? P 105,000.00 P 135,000.00 P 140,000.00 P 120,000.00Holdaway's cost of goods sold for the year isa. 257,000 b. 260,500 c. 261,000 d. 269,500ABC Company has 2500 units in beginning inventory that cost $10 each. They bought 4000 more units during the year for $12 each. They sold 1000 units for $20 each. Cost of goods of good sold using FIFO would be: Group of answer choices $12,000 $8,000 $10,000 $20,000
- The following applied to Kate Company for the current year: Merchandise purchased for resale P5,000,000 Freight in 300,000 Freight out 100,000 Purchase return 50,000 Kate’s inventoriable cost was? Choices: P5,250,000 P5,000,000 P5,350,000 P5,300,0003. Pear Company recorded the following data pertaining to one of its inventory items during January 2021. 1/1 Inventory, 800 units @ P2001/8 Purchased 200 units at P2081/21 Sold 400 units1/30 Purchased 250 units @ P210What is the moving average unit cost of this item at January 31, 2021? Round off to nearest peso? a. 201b. 210c. 230d. 204Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods sold P 221,000.00 P 239,700.00 P 239,000.0 P 221,300.00
- Star LLC sells three products-X, Y, Z. The following information was available at the year-end: X Y Z $per unit $per unit $per unitOriginal cost 10 11 12Estimated selling price 15 14 15Agent’s commission fee (sales-related cost) 7 2 4Units of inventory 20 30 10The value of inventory at the year-end should be:A. $650B. $600C. $725D. $855May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company?Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods sold
