Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).

Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).

Analyzing Inventory The recent financial statements of McLelland Clothing Inc. include the following data: Required: 1. Calculate McLellands gross profit ratio (rounded to two decimal places), inventory turnover ratio (rounded to three decimal places), and the average days to sell inventory (assume a 365-day year and round to two decimal places) using the FIFO inventory costing method. Be sure to explain what each ratio means. 2. Calculate McLellands gross profit ratio (rounded to two decimal places), inventory turnover ratio (rounded to three decimal places), and the average days to sell inventory (assume a 365-day year and round to two decimal places) using the LIFO inventory costing method. Be sure to explain what each ratio means. 3. CONCEPTUAL CONNECTION Which ratios-the ones computed using FIFO or LIFO inventory values-provide the better indicator of how successful McLelland was at managing and controlling its inventory?

Question 1 Assume Hadley Co has the following purchases of inventory during the first month of operations Number of Units Cost per unit 21 First Purchase Second Purchase 278 199 3.7 Assuming Hadley sells 347 units at $13 each, what is cost of goods if they use weighted average?

Inventory Costing Methods-Periodic Method Chen Sales Corporation uses the periodic inventory system. On January 1, 2012, Chen had: 1,000 units of product A with a unit cost of $70 per unit. A summary of purchases and sales during 2012 follows:   UnitCost UnitsPurchased UnitsSold Feb.2     400 Apr.6 $72 1,800   July 10     1,600 Aug.9 76 800   Oct.23     800 Dec.30 79 1,200   Required Assume that Chen uses the first-in, first-out method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product A. Assume that Chen uses the last-in, first-out method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product A. Assume that Chen uses the weighted-average cost method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product A. Do not round until your final answers. Round your answers to the nearest dollar.  a.…

Inventory Costing Methods—Perpetual Method  Chou Sales Corporation uses the perpetual inventory system. On January 1, 2018, Chen had 1,000 units of product A with a unit cost of $20 per unit. A summary of purchases and sales during 2018 follows:   UnitCost UnitsPurchased UnitsSold Feb.2     400 Apr.6 $22 1,800   July 10     1,600 Aug.9 25 800   Oct.23     800 Dec.30 28 1,400   Requireda. Assume that Chou uses the first-in, first-out method. Compute the cost of goods sold for 2018 and the ending inventory balance at December 31, 2018, for product A.b. Assume that Chou uses the last-in, first-out method. Compute the cost of goods sold for 2018 and the ending inventory balance at December 31, 2018, for product A. c. Assume that Chou uses the weighted-average cost method. Compute the cost of goods sold for 2018 and the ending inventory balance at December 31, 2018, for product A.  Do not round until your final answers. Round to the nearest dollar.     a. First-In,…

Question 1 Comvita follows the period inventory accounting.  During the reporting period ended 31st December 2018, Comvita have sold 250, 000 units of Manuka honey with a sales price of $100.   Analyse how inventory valuation methods impact on financial statement analysis of Comvita. The Comvita management has asked you to recommend from three inventory valuation methodse. FIFO, LIFO and weighted average for their cost of goods sold. The management have provided you with the following data,-(LO2)   Inventory at 1 Jan 2018 is 90,000 units @ $ 50 Inventory at 30 March 2018 is 110,000 units @ 52 Inventory at 1st July 2018 is 55,000 units @ 60 Inventory at 1st October is 65,000 @ 70 (LO2.       Apply accounting tools and techniques to analyse and resolve complex situations within an organisation). Note: Your recommendation should be supported with the evaluation of cost of goods sold calculation for each inventory methods .

Required information [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2 Beginning inventory Units purchased 152 units @ $48 430 units @ $72 Ending inventory consisted of 60 units. Mason sold 522 units at $144 each. All purchases and sales were made with cash. Operating expenses amounted to $4,050. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) Gross Margin FIFO LIFO Weighted average

Cost Flow Methods The following three identical units of Item Alpha are purchased during April: Item Alpha Units Cost Apr. 2 Purchase 1 $213 14 Purchase 1 215 28 Purchase 1 217 Total 3 $645 Average cost per unit $215 ($645 ÷ 3 units) Assume that one unit is sold on April 30 for $290. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost methods. Gross Profit Ending Inventory a. First-in, first-out (FIFO) 213 b. Last-in, first-out (LIFO) 217 X c. Weighted average cost $