10:50 PM Tue Mar 5DoneHomework Ch 66Part 4 of 40.83points01:08:24SkippedeBookPrintReferencesAAMcGrawHill1DateOctober 1October 4October 10October 13October 20October 28October 30Required informationProblem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)[The following information applies to the questions displayed below.]ezto.mheducation.comBrianna's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Brianna'sBoutique uses a periodic inventory system.TransactionsBeginning inventorySalePurchaseSalePurchaseSalePurchaseProblem 6-1A (Algo) Part 4Ending inventoryCost of goods soldSavedUnits Unit Cost6$77045347a< Prev780790800S6Total Cost$4,620of 103,9004. Using weighted-average cost, calculate ending inventory and cost of goods sold at October 31. (Round your intermediatecalculations to 4 decimal places and final answers to 2 decimal places.)3, 160Help5,600$17,280Next >Save & Exit SubmitCheck my work* 56%

Ending inventory$6,283.64Cost of ending inventory$10,996.36Explanation:A weighted average is used in…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required information Problem 6-1A Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3) (The following information applies to the questions displayed below.] Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system. Transactions Beginning inventory Sale Purchase Sale Purchase Sale Date October 1 October 4 Units Unit Cost 6. 4 Total Cost $ 4,560 $760 October 10 October 13 October 20 October 28 October 30 770 3,850 4 7 780 3,120 Purchase 790 6,320 $17,850 Problem 6-1A Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold
Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) Skip to question [The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Numberof Units UnitCost Total Cost Jan. 1 Beginning inventory 30 $ 32 $ 960 Mar. 4 Purchase 35 31 1,085 Jun. 9 Purchase 40 30 1,200 Nov. 11 Purchase 40 28 1,120 145 $ 4,365 For the entire year, the company sells 111 units of inventory for $40 each. 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
73 Ch5 Homework A NWP Assessment Player U Ô https://educatio. o NMDWS Login SIS Student and Parent.. * My Home Home O Pearson Sign In + Ch5 Homework Question 3 of 8 View Policies Current Attempt in Progress Carla Vista Company buys merchandise on account from Tamarisk Company. Th selling price of the goods is $1,230 and the cost of the goods sold is $710. Both companies use perpetual inventory systems Journalize the transactions onthe books of both companies. (If no entry is reguirec select "No Entry" for the account Utes cnd en e0 for the amounts. Credit account title are automatically indented when amourt senterec. Do not indent marually) Debit Account Titles and Explanation Carla Vista Tamarisk insert prt sc -> backspace 8. 6.
Check my workCheck My Work button is now enabled2 Item3 Item 3 Part 1 of 3 10 points Item Skipped Required information M7-11 to 13 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 220 units at $6 on January 1, (2) 490 units at $7 on January 8, and (3) 790 units at $8 on January 29. M7-11 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO [LO 7-3] Assume 950 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under FIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.)
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hLEIon1 - unit 4 Chapter 5 estion ezto.mheducation.com/ext/map/index.html?_con%3Dcon&extermal_ browser-D08launchUrl-https%253 2521 hapter 5 Quiz i Saved TB MC Qu. 5-80 (Algo) The inventory records for Radford Company reflecte The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 300 units @ $2.20 400 units @ $2.40 600 units @ $2.50 200 units @ $2.60 Third purchase on May 23 Sales on May 31 1,200 units @ $4.10 What is the weighted average cost per unit for May? Multiple Choice
Accounting inventories
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Tube C CengageNOWV2 | Online teaching and learning resourc... Using the following information for a periodic inventory system, what is the amount of net income (loss)? Purchases Inventory, September 1 Administrative expense Rent revenue Sales 1,146 Selling expense $825 Inventory, September 30 11,074 58,402 $28,452 7,276 697 Interest expense Oa. $32,565 Ob. $807 Oc. $24,654 X Od. $27,288 Dashboard 807
Exercise 6-9 Moving weighted average cost flow assumption-perpetual LO2, 3 Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete the inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) Date Units Mar 1 2 3 4 7 17 28 Purchases/Transportation-In/ (PurchaseReturns/Discounts) 32 Cost/Unit Brought Forward 27 $ 96.00 97.00 Total $ Cost of Goods Sold/(Returns to Inventory) Units Cost/Unit 40 (20) 47 35 Total $ Units 52 $ Balance in Inventory Avg Cost/Unit 94.00 $ Total $ 4,888.00

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