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CALCULATOR FULL SCREEN PRINTER VERSION ( BACK URCES rk Do It! Exercise 6-02 a-c D2 a-c 04 a- The accounting records of Americo Electronics show the following data. Beginning inventory 3,000 units at $5 Purchases 8,000 units at $7 (Part Sales 9,400 units at $10 a2, b ssion) M Your answer is correct. Study Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.) FIFO Cost of goods sold during the period 59,800 SHOW SOLUTION LINK TOΤΕXΤ

A company has the following: Dec. 1 O $110.50 Dec. 14 Dec. 19 Dec. 21 Purchase 50 $1.12 The company sold 100 units at $2.00 per unit on December 23. Assuming that a perpetual inventory system is used, what is the company's gross profit using LIPO? O$89.50 O $96.00 O$104.00 Units Beginning balance 30 Purchase 60 $100.00 Purchase Cost per unit $1.00 40 $1.05 $1.10

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Journalize this transaction: Purchased from Kraft Co. $4,000 of inventory on account. Edit View Insert Format Tools Table 12pt v Paragraph |BIUAV O words MacBook Pro On-line F En ACCT 101 One Test O 10611 As Aes ferret Oul tntiers

A company that purchases inventory costing $10,000 onterms 2/10, n/30, but first returns one-half of those goods,will receive a discount of what amount if it pays on thelast day of the discount period?a. $0 c. $200b. $100 d. $5,000

Question content area top Part 1 Zephron Music purchased inventory for $ 4 comma 200 and also paid a $ 380 freight bill. Zephron Music returned 20​% of the goods to the seller and later took a 2​% purchase discount. Assume Zephron Music uses a perpetual inventory system. What is Zephron Music​'s final cost of the inventory that it​ kept? (Round your answer to the nearest whole​ number.)

Transaction Date 1/1 Beginning Inventory 5/5 Purchase 8/10 Purchase 10/15 Purchase Multiple Choice $20,000. During the year, Harborview sold 750 laptop computers. What was ending inventory using the LIFO cost flow assumption? $22,500. $27,500. Number UI Units 100 200 300 200 $30,000. Cust per Unit $400 $450 $500 $550

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$0 ric 200 The following summarizes Tesla's merchandising activities for the year. Set up T-accounts for Merchan- dise Inventory and for Cost of Goods Sold. Enter each line item into one or both of the two T-accounts and compute the T-account balances. Cost of merchandise sold to customers.. Merchandise inventory, beginning-of-year.... Merchandise purchases, gross amount Shrinkage on inventory as of year-end.... Transportation-in for merchandise purchases. Cost of merchandise returned by customers (and restored to inventory). Discounts received from suppliers on merchandise purchases Returns to and allowances from suppliers on merchandise purchases $196,000 25,000 192,500 800 2,900 2,100 1,700 4,000 Exercise 5-11 Inventory and cost of sales transactions in T-accounts P1 P2 Check Ending Merch. Inventory, $20,000

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Course: 11D ACCT 1 Introduct X A Not secure | alphacollege.ddns.net:5056/moodle/course/view.php?id%328 Apps M Gmail O YouTube Мaps E-Alpha * My Coulehat are the merchandise inventory Access Pascodeentries of the following statements? Assignment#5 1) Sep1 Business sold $2400 inventory to ACE Inc., the cost is $600, Terms 2/5, n/15 FOB 2) Sep1 Business purchased $3600 of inventory from Westelm, Terms 1/10, n/20 FOB 3) Sep3 Business purchased $3000 of inventory from Citylight Inc. paid in cash 4) Sep6 Business Received ACE Inc's money. 5) Sep9 business purchased inventory $2700 from SilentSolar Ltd, Terms: 1/5, n/10, FOB 6) Sep11 Business paid Westelm in full 7) Sep30 paid SilentSolar Ltd for the Sep9 purchase Alpha College of Business and Technology Alpha E-Learning 2020 You are logged in as Harmanpreet Kaur. 4303546 (Log out) Home P Type here to search ASUS 立

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eBook Show Me How Caloulator Print Item Gross Profit During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost of the merchandise sold is $1,014,300. what is the amount of the gross profit? Check My Work Email Instructor Save and Exit All work saved. ch %23

Exam 3 Chapters 4-5 i 16 ! Required information Saved Part 4 of 4 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. 5 points Date March 1 March 5 March 9 01-12:07 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit 100 units @ $61.60 per unit 180 units @ $63.60 per unit Units Sold at Retail 290 units @ $86.60 per unit Totals 650 units 160 units @ $96.60 per unit 450 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final…

odule Three Assignment - ACC x * CengageNOWv2 | Online teachir x com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre... O eBook Show Me How Gross Profit During the current year, merchandise is sold for $118,700 cash and $454,300 on account. The cost of the goods sold is $383,900. What is the amount of the gross profit? Previous Next Check My Work 6:37 AM 45°F A D E a O 11/13/2021

Question Help v 7. Hampton Computers has the following transactions in April related to purchase of merchandise inventory. A (Click the icon to view the transactions.) Journalize the purchase transactions for Hampton Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Apr. 1: Purchase of $25,000 More Info - X Date Apr. 1 April 1 Purchase of $25,000 worth of computers on account, term of 1/10, n /60. 3 Return of $2,500 of the computers to the vendor. 9 Payment made on account. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All Check Answer This course (BA2223section4) is based on Nobles/Mattison: Horngren's Accounting, 11e Global Edition ch EN A Q) acer

Brief Exercise 6-3 Calculate cost of goods sold (LO6-2) At the beginning of the year, Bryers Incorporated reports inventory of $7,400. During the year, the company purchases additional inventory for $22,400. At the end of the year, the cost of inventory remaining is $9,400. Calculate cost of goods sold for the year. e to search SUS

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Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Nov. 5 Purchased 950 units of product at a cost of $12 per unit. Terms of the sale are 5/10, n/60; the invoice is dated November 5. 7 Returned 40 defective units from the November 5 purchase and received full credit. Nov. Nov. 15 Paid the amount due from the November 5 purchase, minus the return on November 7. View transaction list

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