Please do not give solution in image format thanku Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top sellinghockey stick. The hockey stick sells for $130.DescriptionMar. 1Mar. 3Mar. 6Mar. 17Mar. 23Mar. 31BeginningInventoryPurchasePurchaseSalePurchaseSaleUnits Unit Cost5$3050$35100$4045$401. FIFO2. Moving weighted average30120Required:Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do notround your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.)Ending Cost of GoodsInventorySold

The perpetual inventory system is the method of costing of the inventory in which at the time of…

Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) 1. FIFO 2. Moving weighted average Ending Inventory Cost of Goods Sold

Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) 1. FIFO 2. Moving weighted average Ending Inventory Cost of Goods Sold

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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Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units 35 80 130 75 90 180 1. FIFO 2. Moving weighted average Unit Cost $ 60 $65 $ 70 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) Cost of Goods Sold $70 Ending Inventory I
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Q1. Murray furniture store sells couches as a retailer. The wholesale cost to them of their most popular model of couch varies depending on how many they purchase for sale. For the first 200 couches the cost is $299 each; for the next 200 couches it drops to $250 each; and for every couch after that it costs $225. Create an excel function using the IF function to show the gross profit under the following scenarios: a. b. It sells at a price of $650 and 350 units are purchased for sale and sold It sells at a price of $625 and 300 units are purchased for sale and sold It sells at a price are $700 and 1,000 units are purchased for sale and sold C.
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. 6 Purchase. Mar. 17 Sale Mar 23 Purchase Mar. 31 Sale Units 29 74 124 1. FIFO 69 78 168 Ending Inventory Unit Cost $54 $ 59 5.64 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) $.64 Cost of Goods Sold
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $125. Description Units Unit Cost Mar. 1 Beginning Inventory 15 $ 40 Mar. 3 Purchase 60 $ 45 Mar. 6 Purchase 110 $ 50 Mar. 17 Sale 55 Mar. 23 Purchase 50 $ 50 Mar. 31 Sale 140 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.)
he company has these parties of goods on hand: 10x1.000 TL; 20x900 TL; 10x800 TL; 10x700 TL. If 37 items are sold with 20% profit margin (COGS +20% Profit), what is COGS and Sales Revenue in LIFO? a. COGS: 9.400 TL; Sales Revenue: 11.280 TL b. COGS: 33.600 TL; Sales Revenue: 40.320 TL c. COGS: 30.300 TL; Sales Revenue: 36.360 TL d. COGS: 12.700 TL; Sales Revenue: 15.240 TL
Please do not give solution in image format thanku
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale 1. FIFO Units. 19 64 114 59 58 148 2. Moving weighted average Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) Unit Cost $44 $49 $54 Cost of Goods Sold $54 Ending Inventory < Prev www 2 of 8 --- Nex
Q1) Pier 1 Imports operates almost 1,000 stores around the world. Assume you are dealing with a Pier 1 store in Dallas. Assume the store began with an inventory of 50 chairs that cost a total of $1,500. The store purchased and sold merchandise on account as follows: Purchase 1 60 chairs @ $35 Sale 1. @ $60 100 chairs Purchase 2 . 80 chairs @ $40 Sale 2. @ $70 Assume that Pier 1 uses the FIFO cost method. Cash payments on account totaled $5,100. Operating expenses were $2,400; the store paid two-thirds in cash and accrued the rest as Accounts Payable. Required 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise. 70 chairs 2. Make journal entries to record the store's transactions.
The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000
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