Account Cost of goods sold Inventory Multiple Choice What is the average number of days to sell inventory for Company Y? Note: Do not round your intermediate calculations. Use 365 days in a year. O 37.1 55.5 42.6 Company X $4,630,000 $ 704,000 9.9 Company Y $9,332,500 $ 947,000 Company Z $7,138,000 $ 833,600

Account Cost of goods sold Inventory Multiple Choice What is the average number of days to sell inventory for Company Y? Note: Do not round your intermediate calculations. Use 365 days in a year. O 37.1 55.5 42.6 Company X $4,630,000 $ 704,000 9.9 Company Y $9,332,500 $ 947,000 Company Z $7,138,000 $ 833,600

Name: AccountCost of goods soldInventoryMultiple ChoiceWhat is the average
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Description: AccountCost of goods soldInventoryMultiple ChoiceWhat is the average number of days to sell inventory for Company Y?Note: Do not round your intermediate calculations. Use 365 days in a year.O37.155.542.6Company X$4,630,000$ 704,0009.9Company Y$9,332

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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Question 3 Assume a company had the following inventory information: Beginning Inventory: 90 units @ $4.00 cost per unit Purchases: 180 units @ $7.00 cost per unit If the company then sold 180 units, calculate the dollar amount of COGS under average cost method.
Q5
Accounting
Need help on problem a2
1 A firm uses an inventory item with the following characteristics. Cost per-item $ 6.00 Annual consumption 1,000 Fixed cost per order placed $30.00 Carrying cost of inventory (as a % of dollar value) 25% How many times should the product be reordered each year and what are the related ordering and carrying costs of inventory?
A Moving to another question will Question 1 National supplies company had the following activity during the current monthly period. June 1 Beginning inventory 70 units at $10 June 5 Purchased 50 units at $40 June 16 Sold 120 units at $65 Using the Weighted average inventory costing method, what is the cost of goods sold for June? O $2,610 O $2,836 O $2,300 O $2,700 W
Problem 16: Inventory Costing Method The inventory stock card of Beth Corporation on January 2030 is as follows: Purchase Units Balance Price Unit Sold Units 10,000 5,000 20,000 20,500 15,000 Jan. 1 100 10,000 5,000 Jan. 15 Jan. 18 110 15,000 Jan. 20 100 500 Jan. 30 5,500 Required: Compute the ending inventory cost using a. Moving Average method b. FIFO method c. LIFO method
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A2