Bookmarks Window Help Thu De v2.cengagenow.com cent Tech. B Learning Module 8 - ACCT1105: Financial Acc. E CengageNOWv2 | Ontine teaching and learnin... Cengage Learning еВook Show Me How Inventory Analysis A company reports the following: Cost of merchandise sold $558,000 Average inventory 45,000 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover days

Bookmarks Window Help Thu De v2.cengagenow.com cent Tech. B Learning Module 8 - ACCT1105: Financial Acc. E CengageNOWv2 | Ontine teaching and learnin... Cengage Learning еВook Show Me How Inventory Analysis A company reports the following: Cost of merchandise sold $558,000 Average inventory 45,000 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover days

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Description: BookmarksWindow HelpThu DeA v2.cengagenow.comscent Tech..BLearning Module 8- ACCT1105: Financial Ac..E CengageNOwWv2 | Onltine teaching and learnin..Cengage LearningeBookShow Me HowInventory AnalysisA company reports the following:Cost of merchandis

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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1 View Policies Current Attempt in Progress The cost of goods sold computations for Flint Company and Pina Colada Company are shown below. Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold (a1) Inventory turnover eTextbook and Media norcal archives 20....zip Flint Company ^ $ 46,000 197,500 W 243,500 55,000 $188,500 Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 15.25.) Flint Company Pina Colada Company $72,500 OCA 5.docx 294,000 366,500 73,000 $293,500 Pina Colada Company W response essay.docx
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item GY9 are as follows: Mar. 1 Inventory 365 units at $24 Sale 305 units 15 Purchase 510 units at $26 27 Sale 325 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 27 and (b) the inventory on March 31. a. Cost of merchandise sold on March 27 b. Inventory on March 31
A v2.cengagenow.com Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 350 units at $10 13 Sale 160 units 22 Purchase 310 units at $13 29 Sale 300 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. Previous Next Check My Work All work saved. Save and Exit Submit Assignment for Grading %24
CNOWv2 Student Help x + enow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locato... 시기 wsing Protection X Chapter 9 < Cost of merchandise sold Inventories: Beginning of year eBook Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for Amsterdam Company follow: End of year 20Y4 20Y3 X Inventory Turnover 20Y4 Show Me How 20Y3 CengageNOWv2 | Online t X Search 20Y4 $3,598,900 593,000 648,000 a. Determine the inventory turnover for 20Y4 and 20Y3. Round to one decimal place. Print Item 20Y3 $3,015,630 b. Determine the days' sales in inventory for 20Y4 and 20Y3. Assume 365 days a year. Round interim calculations and final answers to one decimal place. OL 589,600 Days' Sales in Inventory days days c. Does the change in the inventory turnover and the days' sales in inventory from 20Y3 to 20Y4 indicate a favorable or an unfavorable 593,000 10 Q 813 PrtSc Insert S 1 3/
A ebooks.cenreader.com eTextbook: Intermediate Accounting: Reporting and Analysis TT Annotations Accessibility Bookmark Quick Tour Print Search Exercises E8-1. Inventory Write-Down LO 8.1 Stiles Corporation uses the FIFO cost flow assumption and is in the process of applying the LCNRV rule for each of two products in its ending inventory. A profit margin of 30% on the selling price is considered normal for each product. Specific data for each product are as follows: Product A Product B Historical cost $ 80 $ 96 Replacement cost 70 98 Estimated cost of disposal 32 30 Estimated selling price 150 120 E8-2. Inventory Write-Down
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 20 units @ $14 11 Purchase 14 units @ $15 14 Sale 26 units 21 Purchase 14 units @ $19 25 Sale 14 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 20 %24 14 11 14 15 20 $4 14 14 %24 $ 15 14 20 14 $ 21 14 19 24 %24 25 Total Cost of goods sold Ending inventory value
7:30 S&WYDO □ E6A-27 Computing periodic inventory amounts Learning Objective 7 Appendix 6A ::: e6a-27 Consider the data of the following companies which use the periodic inventory system: Company Net Large Small Medium Petite Sales Revenue $ 105,000 Requirements. (b) 96,000 80,000 Beginning Net Cost Merchandise of Inventory $ 23,000 $ 59,000 27,000 (d) Purchases 8,000 94,000 58,000 366/ 1480 QAA (f) Ending Merchandise of Inventory Cost Goods Sold 5G l 69% $ 22,000 $ (a) Gross Profit $ 45,000 (c) 99,000 40,000 24,000 68,000 (e) 6,500 (g) 44,000 IG b III O < ×
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 23 units @ $14 5 Sale 13 units 17 Purchase 25 units @ $16 30 Sale 24 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. %$4 b. Determine the inventory on September 30. $4
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 21 units @ $14 11 Purchase 13 units @ $17 14 Sale 27 units 21 Purchase 8 units @ $21 25 Sale 11 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Cost of Inventory Purchases Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 21 $ 14 $ 294 11 13 17 221 21 14 $ 294 13 $ 17 221 14 21 $ 14 2$ 294 17 102 21 8 21 168 $4 25 2$ 21 $4 168 3 21 63 Total Cost of goods sold $4 627 Ending inventory value %24 %24 %24 %24
ventory records for Marvin Company... Inventory records for Marvin Company revealed the following: Mar. 1 Beginning inventory Cont 1,090 $7.14 Mar.10 Purchase 500 7.27 Mar.16 Purchase 850 7.40 Mar.23 Purchase 510 7.68 Marvin sold 2,000 units of inventory during the month. Cost of goods sold assuming calculations and round your final answer to nearest dollar amount. Round weight Multiple Choice $14.280
a. Chapters 1-7 G Traducir antaFe iriclars Sotems TB MC Qu. 6-137 Using a perpetual inventory system, how... Using a perpetual Iventory system, how should a company record the sale of Inventory costing $550 for $1,170 on account? 1. InventorY 550 Cost oE GOods Sold 550 Sales Revenue 1,170 Accounts Receivable 1,170 2. Accounts Receivable 1,170 Sales Revenue 1,170 Cost of Goods Sold 550 Inventory 550 550 3. Inventory 620 Gain 1,170 Sales Revenue 1,170 Accounts Receivable 550 Sales Revenues 620 Gain Multiple Choice Ne