44 **Understanding Inventory Transactions and Cost Calculations with Bramble Ltd.**Bramble Ltd. (BL) is a retailer of office equipment that manages its inventory using a periodic inventory system. At the start of October, the company held 2,100 units in inventory with a total cost of $39,900. Throughout October, several inventory transactions were recorded, as detailed below:### Inventory Transactions:| Date | Explanation | Units | Unit Cost/Price | Total Cost ||----------|-------------|--------|-----------------|------------|| **Oct. 9** | Purchase | 5,300 | $20.00 | $106,000 || **12** | Purchase | 3,700 | $19.50 | 72,150 || **17** | Sale | (5,300) | $40.00 | - || **25** | Purchase | 4,100 | $19.80 | 81,180 || **28** | Sale | (5,800) | $40.00 | - |### Cost Calculation Section:**(a)** *Determine the cost of goods available for sale for the month.*This section provides spaces to calculate the cost of goods available for sale using two inventory costing methods: - **FIFO (First-In, First-Out)**- **Average Cost**| | FIFO | Average Cost ||---------------------|-------------|--------------|| Cost of goods available for sale | $ [ ] | $ [ ] |These calculations help determine the cost attributed to the inventory sold and remaining, using different methods to address inventory valuation.Understanding these transactions and calculations is crucial for accurately reporting financial performance and making informed business decisions.

Name: 44 **Understanding Inventory Transactions and Cost Calculations with B
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: 44 **Understanding Inventory Transactions and Cost Calculations with Bramble Ltd.**Bramble Ltd. (BL) is a retailer of office equipment that manages its inventory using a periodic inventory system. At the start of October, the company held 2,100 units

The "goods available for sale" means the stock or goods that a company keeps on hand for the purpose…

Business

Accounting

Bramble Ltd. (BL) is a retailer of office equipment. The company uses a periodic inventory system and on October 1 had 2,100 units of inventory with a total cost of $39,900. During the month of October, BL had the following inventory-related transactions: Date Oct. 9 (a) 12 17 25 28 Explanation Purchase Purchase Sale Purchase Sale Units 5,300 3,700 (5,300) 4,100 (5,800) Unit Cost/Price Cost of goods available for sale $ $20.00 FIFO 19.50 40.00 19.80 Determine the cost of goods available for sale for the month. 40.00 Total Cost $ $106,000 72,150 81,180 Average Cost

Bramble Ltd. (BL) is a retailer of office equipment. The company uses a periodic inventory system and on October 1 had 2,100 units of inventory with a total cost of $39,900. During the month of October, BL had the following inventory-related transactions: Date Oct. 9 (a) 12 17 25 28 Explanation Purchase Purchase Sale Purchase Sale Units 5,300 3,700 (5,300) 4,100 (5,800) Unit Cost/Price Cost of goods available for sale $ $20.00 FIFO 19.50 40.00 19.80 Determine the cost of goods available for sale for the month. 40.00 Total Cost $ $106,000 72,150 81,180 Average Cost

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

it say 43,636.36 is incorrect
What Is Section 1031? A brief explanation on this?
E14.7
7-3 A
E10.15
Problem 20-96 from pic.
12-10
State four (4) main criticisms against the adoption of IFRSs in some countries.
That is not a possible solution. The possible anwsers are --> a. 122329.9877 b. 127159.8450 c. 122132.1253 d. 126907.4914 Please explain