You are provided with the following information for Lily Inc. for the month ended June 30, 2022. Lily uses the periodic method for inventory system. Date   Description   Quantity   Unit Cost or Selling Price June 1   Beginning inventory   40     $34   June 4   Purchase   135     37   June 10   Sale   110     60   June 11   Sale return   15     60   June 18   Purchase   55     40   June 18   Purchase return   10     40   June 25   Sale   54     65   June 28   Purchase   35     43       Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.225.) Weighted-average unit cost   $Enter the weighted-average cost per unit in dollars

Q: You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold…

A: Periodic inventory system is updated at the end of the period to adjust inventory numbers to match…

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

A: Ending Inventory It is  the amount of inventory presented on the balance sheet by the business .It…

Q: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

A: Particulars No. of Units Cost per unit Total Value Beginning Inventory 160 $10 $1600…

Q: Presented below is information related to Crane Enterprises. Apr. 30 $14,140 Jan. 31 Feb. 28 Mar. 31…

A: Answer a:

Q: Trini Company had the following transactions for the month.   Number of Units Cost per Unit Total…

A: Inventory: Inventory is a physical item of trade sold by suppliers during their accounting period.…

Q: The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are…

A: The cost of goods sold includes the total cost of goods sold during the period, and ending inventory…

Q: Trini Company had the following transactions for the month. Number Cost of Units per Unit Total…

A: First in First out (FIFO) is one of the inventory valuation methods in which the earliest inventory…

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

A: Calculate the total purchase quantity and value as follows: The total purchase quantity is 256 and…

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: You are provided with the following information for Lily Inc. for the month ended June 30, 2022.…

A: LIFO represents the calculation of ending inventory with the assumption that the inventory purchased…

Q: You have the following information for Metlock, Inc. for the month ended October 31, 2022. Metlock…

A: Inventory Valuation Methods - Inventory valuation involve FIFO Method, LIFO Method and Average Cost…

Q: The Lippert Company uses the periodic inventory system. The following July data are for an item in…

A: Total units available for sale = 30 + 50 + 25 = 105 units Units sold = 60 units Ending inventory =…

Q: The following is a record of Pervis Ellison Company's transactions for Boston Teapots for the month…

A: Introduction: When calculating the cost of maintaining inventory, organisations might use one of…

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

A: The inventory can be valued using various methods: 1. FIFO 2. LIFO 3. Weighted average method

Q: Teal Mountain Inc. uses a periodic inventory system. Its records show the following for the month of…

A: The ending inventory includes the number of units that are left in stock at the end of period. Using…

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: For the next two (2) questions: ABC Company uses the periodic inventory system. The inventory…

A: Under periodic inventory system, we would determine the cost of goods available for sale and units…

Q: You have the following information for Waterway Industries for the month ended October 31, 2022.…

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

Q: You have the following information for Larkspur Inc. for the month ended October 31, 2022. Larkspur…

A: Weighted Average cost = (63*23) + (117*25) + (104*26) + (67*28) / (63 + 117 + 104 + 67) Weighted…

Q: You have the following information for Bramble Inc for the month ended October 31, 2022. Bramble…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: Trini Company had the following transactions for the month.   Number of Units Cost per Unit Total…

A: In the case of the FIFO method, the inventory which is purchased first is also sold first. Whereas…

Q: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

A: Numberof Units Costper Unit Total cost Beginning Inventory 160     $10     $1600 Purchased…

Q: Calculate the cost of goods sold dollar value for B65 Company for the month, considering the…

A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods…

Q: You are provided with the following information for Lily Inc. for the month ended June 30, 2022.…

A: We will answer only first question as it is not specified which question is to be answered. Kindly…

Q: Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning…

A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods…

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

A: SOLUTION-                                   COST OF GOODS AVAILABLE FOR SALE      DATE…

Q: Number of Units Cost per Unit $10 Beginning inventory Purchased Mar. 31 Purchased Oct. 15 Ending…

A: First in First out (FIFO) Methods says that goods purchased first are Sold first which implies that…

Q: You have the following information for Van Gogh Inc. for the month ended October 31, 2022. Van Gogh…

A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…

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: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

A: First-in, First Out (FIFO) Under the First in first out (FIFO) method of inventory valuation, Cost…

Q: The Lippert Company uses the periodic inventory system. The following July data are for an item in…

A: Working: FIFO   Purchases+Beginning Inv. Cost of Goods Sold Balance in Inventory Date Units…

Q: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

A: Introduction: FIFO: FIFO stands for First in First out. Which means first received inventory to be…

Q: Using a LIFO perpetual cost flow and the following data for Beamer Company, determine the value of…

A: Last-in First Out: As per LIFO method of accounting, units purchased last are sold first.

Q: Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning…

A: The question is related to Valuation of closing nventory under three different methods  Required…

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

A: 1.  Calculation of cost of goods sold under FIFO Method  :  Date  Number of units  sold / sales…

Q: Number of Units Cost per Unit Total 1,050 1,020 1,300 1,200 4,570 $ 23,100 23,460 33,800 32,400…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: Trini Company had the following transactions for the month. Number Cost of Units per Unit Total…

A: FIFO is the inventory valuation method in which inventory purchased first will be sold first. LIFO…

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: Use the following information from Marvel Company for the month of July to answer the following…

A: Ending inventory is $2,685

Q: Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost…

A: Periodic inventory system: A periodic inventory system is a system of measuring inventory which is…

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

A: Here in this question, we are required to calculate inventory under periodic inventory system. In…

Q: The following are the transactions for the month of July.       Units Unit Cost Unit Selling…

A: The Store ledger has been made based on FIFO periodic methos as above.

Q: You have the following information for Metlock, Inc. for the month ended October 31, 2022. Metlock…

A: Weighted average cost per unit= Total purchase and begcost/ Total purchased and beg unit

Q: Current Attempt in Progr You are provided with the following information for Waterway Inc. for the…

A: FIFO is First in First out method of inventory which says that inventory which is purchased first in…

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

A: Inventory is the current asset posted in the balance sheet of the company.

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

A: The gross profit is calculated as excess of sales revenue over total cost.

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

A: a1. Computation of cost of goods available for sale. Cost of goods available sale $8930 No. of units…

Q: You are provided with the following information for Lily Inc. for the month ended June 30, 2022.…

A: Periodic inventory system: Under this inventory system, the records of inventory are only updated at…

Q: The Lippert Company uses the periodic inventory system. The following July data are for an item in…

A: In the periodic inventory system, the cost of goods sold and the inventory on hand is calculated at…