Carla Vista Hockey Inc. has the largest selection of hockey equipment of any retailer in the city in which it operates. Carla Vistareported the following cost and net realizable value information for inventory at December 31:ItemHockey sticks:BauerCCMWarriorHelmets:AdidasNikeMissionUnits Unit Cost231357111025$100$205$255$195$180$80Unit NRV$205$155$255$130$180$205 Calculate the ending inventory balance for hockey sticks and helmets using the lower of cost and net realizable value for eachitem.ItemHockey sticks:BauerCCMWarriorHelmets:AdidasNikeMissionTotalLAEnding Inventory ($)

Name: Carla Vista Hockey Inc. has the largest selection of hockey equipment
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Description: Carla Vista Hockey Inc. has the largest selection of hockey equipment of any retailer in the city in which it operates. Carla Vistareported the following cost and net realizable value information for inventory at December 31:ItemHockey sticks:BauerC

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Calculate the ending inventory balance for hockey sticks and helmets using the lower of cost and net realizable value for each item. Item Hockey sticks: Bauer CCM Warrior Helmets: Adidas Nike Mission Total $ $ Ending Inventory ($)

Calculate the ending inventory balance for hockey sticks and helmets using the lower of cost and net realizable value for each item. Item Hockey sticks: Bauer CCM Warrior Helmets: Adidas Nike Mission Total $ $ Ending Inventory ($)

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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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Activities Units Acquired at Cost 215 units @ $14.00 = $3,010 Date Units sold at Retail Jan. 1 Beginning inventory Jan. 10 Sales 165 units @ $23.00 Jan. 20 Purchase 160 units @ $13.00 = 2,080 Jan. 25 Sales 190 units @ $23.00 Jan. 30 Purchase 330 units @ $12.50 = 4,125 Totals 705 units $9,215 355 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 350 units, where 330 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1 Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to…
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Ending inventory using Lower of cost or market
Wildhorse's Gift Shop uses a perpetual inventory system and the FIFO cost formula for valuing inventory. The company is now in the process of comparing the cost of its inventory with its net realizable value. The following data are available at Wildhorse's Gift Shop's year end, December 31: Clothing Units Unit Cost 91 $8 76 20 2017 Greeting cards 47 4 60 12 Jewellery Net Realizable Value per Unit Stuffed toys $6 27 5 38
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ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%25... A ☆ mework i Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2 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 JESTE Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units 1. FIFO 2. Moving weighted average 24 69 119 64 68 158 Unit Cost Cost of Goods Sold $ 49 $ 54 $59 $59 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.) Saved Ending Inventory Help
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SUNDAY ezto.mheducation.com rning | Home on II A Saved Help Save & Exit MC Qu. 6-40 Madison Manufacturing's ending inventory... Madison Manufacturing's ending inventory count was $65,000, cost of goods sold was $35,100, and purchases were $72,800, its beginning inventory must have been: 11 Multiple Choice $42,900. $27,300. $172,900. $102,700. MacBook DII DD F2 F3 F4 F5 F6 F7 F8 F9 F10 23 24 & ( 4 6. 7 8. 9. E R
A-7
find cost of goods sold ending inventory and gross margin using FIFO and weighted average Kindly answer in text with all workings
A and b please