The amount allocated to ending inventory? Atlas Inc. recently started operations and made the following fourinventory purchases in April:April 3: 150 units at $900April 8: 200 units at $1,300April 19: 200 units at $1,260April 25: 150 units at $990A physical inventory count on April 30 revealed that there were 210units remaining in inventory. Using the average-cost method, theamount allocated to ending inventory on April 30 isa. $1,290.29b. $1,350.74c. $1,260.25d. $1,335.60

Step 1: Calculation of Total units and total cost of inventoryApril 3: 150 units for $900April 8:…

Answered: Atlas Inc. recently started operations…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...

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On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing. Dorsos December 31 ending inventory records are as follows: Year 1: Current cost, 20,000; Index, 100 Year 2: Current cost, 33,600; Index, 120 Using the dollar-value LIFO method, compute Dorsos December 31 ending inventory for Year 2.
Bleistine Company had the following transactions for the month. Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $50 each. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
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