AppleBook200 are from January 12, 20-2100 are from March 17400 are from June 2200 are from August 21300 are from September 27Required:3rd purchase4th purchase5th purchase6th purchase7th purchaseCalculate the total amount to be assigned to cost of goods sold for the fiscal year ended September 30, 20-2, and ending inventory on=20-2, under each of the following periodic inventory methods. For the weighted-average method, round the average unit cost to two deRound all final answers to the nearest dollar.Cost of Goods Sold Cost of Ending InventoryX1. FIFO2. LIFO3. Weighted-average4. Specific identification eBookSpecific Identification, FIFO, LIFO, and Weighted-AverageSwing Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, were as follows:Units Unit Price Total Cost$20.5October 1, 20-1October 18November 25January 12, 20-2March 17June 2August 21September 27Beginning inventory 4204901st purchase2nd purchase3rd purchase4th purchase5th purchase6th purchase7th purchase1903508707802006503,9501st purchase3rd purchase4th purchase212222.523.52425265th purchase6th purchase$8,61010,2904,1807,87520,44518,7205,00016,900.Use the following information for the specific identification method.There are 1,300 units of inventory on hand on September 30, 20-2. Of these 1,300 units:100 are from October 18, 20-1200 are from January 12, 20-2100 are from March 17400 are from June 2200 are from August 21$92,020

Name: AppleBook200 are from January 12, 20-2100 are from March 17400 are fr
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: AppleBook200 are from January 12, 20-2100 are from March 17400 are from June 2200 are from August 21300 are from September 27Required:3rd purchase4th purchase5th purchase6th purchase7th purchaseCalculate the total amount to be assigned to cost of go

"Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Business

Accounting

Calculate the total amount to be assigned to cost of goods sold for the fiscal year ended September 30, 20-2, and ending inventory on 20-2, under each of the following periodic inventory methods. For the weighted-average method, round the average unit cost to two de Round all final answers to the nearest dollar.

Calculate the total amount to be assigned to cost of goods sold for the fiscal year ended September 30, 20-2, and ending inventory on 20-2, under each of the following periodic inventory methods. For the weighted-average method, round the average unit cost to two de Round all final answers to the nearest dollar.

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

From the following, calculate the cost of ending inventory and cost of goods sold for the FIFO method, ending inventory is 52 units. (Round your answers to the nearest cent.) Beginning inventoryand purchases Units Unit cost January 1 4 $ 1.20 April 10 11 1.70 May 15 11 2.20 July 22 16 2.45 August 19 17 3.20 September 30 21 3.40 November 10 31 3.60 December 15 17 4.00 Cost of ending inventory Cost of goods sold
Calculate the ending inventory and cost of goods sold dollar values for ABC Company for the month, considering the following transactions under three different cost allocation methods and using periodic inventory updating: |(a) First-in, first-out (FIFO) (b) Last-in, first-out (LIFO) Number of Unit Cost Sales Price Units Beginning Inventory 100 $20 Purchase 400 22 Sold 300 $30 Purchase 200 24 Sold 180 $35 Ending Inventory 220
From the following, calculate the cost of ending inventory and cost of goods sold for the weighted-average method, ending inventory is 55 units. Note: Round your intermediate calculations and final answers to the nearest cent. Beginning inventory and purchases January 1 April 10 May 15 July 22 August 19 September 30 November 10 December 15 Cost of ending inventory Cost of goods sold Units 5 10 123 925 ∞ ON 6 000 10 12 15 18 20 32 16 Unit cost $ 2.60 3.10 3.60 3.85 4.60 4.80 5.00 5.40
Ch 9 Problem Set B Problem 9-1 Part B The company uses the perpetual inventory method. It began the month of March with 100 units of inventory, at a unit cost of $55. Purchases during March March 5, 60 units at $60 each. March 18, 200 units at $65 each March 29, 40 units at $75 each. Sales during March March 12, 60 units. March 25, 210 units. All units were sold to customer for $100 each. 1. Use the following format to set up this inventory costing problem, as shown in Video #2. Inventory Date Units Cost per Total Cost Date Units Total Cost Unit Beg Balance Units Cost Beginning Balance + Purchases Goods Available for Sale - Sold Ending Balance
The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 55 $ 10 July 13 Purchase 275 11 July 25 Sold (100 ) $ 14 July 31 Ending Inventory 230 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. How would i creat a FIFO periodic table?
Balamb Corporation had the following transactions for the month: Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. first-in, first-out (FIFO) last-in, first-out (LIFO) weighted average
2. Consider the following transactions for DeTrees Company for the month shown in chronological order: Number of Units Unit Cost Sales Beginnig inventory 100 $66 Puchased 80 75 Sold 50 $120 Sold 25 125 Ending inventory 105 In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit,…
Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG). Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning inventory 870 $60 Purchased 620 62 Sold 400 $80 Sold 350 90 Ending inventory 740 AVG (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Total Cost Beginning Purchase Sale Sale Total Purchases Total COGS
Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG). Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning inventory 860 $60 Purchased 650 62 Sold 400 $100 Sold 350 110 Ending inventory 760 AVG (perpetual) Inventory Cost of Goods Sold Cost of Inventory Remaining Cost of Goods Purchased Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Total Cost Beginning Purchase Sale Sale Total COGS Total Purchases
The Company uses a periodic inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.)
How do you calculate the total amount to be assigned to the ending inventory and cost of goods sold December 31 under each of the following methods?
The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 Second purchase on May 17 Third purchase on May 23 1,200 units @ $4.00 1,300 units @ $4.20 1,500 units @ $4.30 1,100 units@ $4.40 Sale on May 31 3,900 units @ $5.90 What is the amount of gross margin assuming the weighted average cost flow method is used? (Round your intermediate calculations to 2 dec Multiple Choice $10.920 $17160 $6,513 O $5.850