X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was $100,000, and cost of goods sold $620,000 Refer to the above, how much would the company report for cost of goods manufactured? * $710,000 O $610,000 $600,000 None of the above Refer to the above, assume that sales revenue for the year was $1,260,000 and total period costs were $300,000. The

X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was $100,000, and cost of goods sold $620,000 Refer to the above, how much would the company report for cost of goods manufactured? * $710,000 O $610,000 $600,000 None of the above Refer to the above, assume that sales revenue for the year was $1,260,000 and total period costs were $300,000. The

Name: 4G+11:56 M* ll 69%* RequiredUse the following to answer the two quest
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Description: 4G+11:56 M* ll 69%* RequiredUse the following to answer the two questions below.X Company had $90,000 of endingfinished goods inventory, beginningfinished goods inventory was $100,000,and cost of goods sold $620,000Refer to the above, how much would

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.5BE: Inventory analysis A company reports the following: Cost of goods sold 435,000 Average inventory...

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EA6. LO 10.2 Akira Company had the following transactions for the month. Number of Units cost per unit Beginning inventory 150 $1,500 Purchased Mar. 31 160 1,920 Purchased Oct. 15 130 1,950 Total goods available for sale 440 5,370 Ending inventory 50 ? Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $25 each. Provide your calculations. A first-in, first-out (FIFO). B. last-in, first-out (LIFO) C. weighted average (AVG)
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CP 13–5The following data are taken from the records of Cronkite Corp.:2019$2,5201,890630510$ 1202018$1,440960480430$ 50SalesCost of goods soldGross profitOther expensesNet incomeRequired: Perform horizontal analysis on the above date and interpretyour results
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Twenty Twenty One Corp.Income StatementFor the month ended December 31, 2020Sales (P10/unit) ...................................................................................................... P900,000Variable Costs:Variable Cost of Goods Sold:Beginning Inventory ............................................................. P125,000Variable Cost of Goods Manufactured ............................... 400,000----------------Total Goods Available for Sale ........................................... 525,000Ending Inventory ................................................................. 75,000----------------Variable Cost of Goods Sold .............................................. 450,000Variable Selling Expense ....................................................... 90,000 540,000----------------- -------------------Contribution Margin ................................................................................................ P360,000Fixed Costs:Manufacturing…
Twenty Twenty One Corp.Income StatementFor the month ended December 31, 2020Sales (P10/unit) ...................................................................................................... P900,000Variable Costs:Variable Cost of Goods Sold:Beginning Inventory ............................................................. P125,000Variable Cost of Goods Manufactured ............................... 400,000----------------Total Goods Available for Sale ........................................... 525,000Ending Inventory ................................................................. 75,000----------------Variable Cost of Goods Sold .............................................. 450,000Variable Selling Expense ....................................................... 90,000 540,000----------------- -------------------Contribution Margin ................................................................................................ P360,000Fixed Costs:Manufacturing…
chapter 7 9. Calculate the maintained markup percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). (HINT: Page 196) NOTE. There are four questions associated with this data. You will ultimately complete a complete RIM exercise. Cost ($) Retail ($) Opening inventory 130,410 201,543 Gross purchases 418,390 884,916 Returns to vendors 1,726 3,514 Cash discounts 2,040 Alteration costs 1,620 Freight 1,690 Gross Sales 806,430 Customer returns 60,340 Markdowns 120,630 Markdown cancellations 3,048 Additional markup 360 Employee discounts 1,010 Closing physical inventory 212,803
Inventory (01/10/18)Raw materials 28800Work in progress 37000Finished goods 33600Sales (114000 @c5) 57000Carriage on raw materials 1470General expenses 25200Selling expenses 51840Plant and machinery 250280Land 50000Bank overdraft 32120Retained earnings 816Ordinary share capital 2000008% preference share 22000Goodwill 40000Bad debts 830Trade receivables 36433Discount allowed 1440Sundry payable 56636Trade investment 8840Advertising 2250Return inwards 9000Discount received 1920Carriage outwards 2280Production wages 126000Office salaries 4860Purchases of raw materials 168000Noodles 15000Factory rent 13600Office insurance 40800Depreciation on plant and machinery 4920InventoryRaw materials 35400Work in progress 39120Loose tools 3000Additional informationDuring the year, 129000 pieces were completed. The closing inventory of finished goods is valued at the cost price per nose mask produced.Goods manufactured during the year are to be transferred to the trading account at GHc 390000.Provide…