Caro Corporation has provided the following information for its most recent month of operations: Sales $16,000 Ending inventory $4,000 Purchases Gross profit $8,000 $10,000 How much was Carp's beginning inventory? a. $2,000 b. $18,000 c. $6,000 d. $12,000

The 200X records of Thompson Company showed a beginning inventory of $6,000, cost of goods sold of $14,000, and ending inventory of $8,000. The cost of purchases for 200X was:$12,000$10,000$ 9,000$16,000 Question 2Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost of $35,000. The inventory at the end of the month was $20,000. The cost of goods sold would be:$30,000$35,000$15,000$25,000 Question 3Following is the inventory activity for July:Beginning Balance 10 sweaters @ $12 each1-JulPurchased 5 sweaters at $14 each8-JulPurchased 8 sweaters at $17 each17-JulPurchased 6 sweaters at $20 each24-JulSold 12 sweaters for $30 eachWhat is the ending inventory $ amount using the FIFO method?$298$224$261 Question 4Following is the inventory activity for July: Beginning Balance 10 sweaters @ $12 each1-JulPurchased 5 sweaters at $14 each8-JulPurchased 8 sweaters at $17 each17-JulPurchased 6 sweaters at $20 each24-JulSold 12 sweaters for $30 each what…

Blue Company has the following data for the year. Beginning inventory Net sales revenue $100,000 Net purchases $320,000 Normal gross profit rate $140,000 40% What is the estimated ending inventory? (Round your final answer to the nearest dollar.) O A. $240,000 O B. $192,000 O C. $112,000 O D. $48,000

Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $60,000; beginning inventory of $6,000 and purchases of $42,000. What is the estimated amount of ending inventory at the end of the period? Multiple Choice O O O $19,200 $36,000 $12,000 $24,000

Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $95,000; beginning inventory of $9,500 and purchases of $66,500. What is the estimated amount of ending inventory at the end of the period? Multiple Choice ο ο ο ο $30,400 $57,000 $38,000 $19,000

Anthony Corporation reported the following amounts for the year:          Net sales $ 296,000   Cost of goods sold   138,000   Average inventory   50,000     Anthony's average days in inventory is: (Round to the nearest whole day.)   Multiple Choice   170 days.   114 days.   132 days.   151 days.

Bernie Bird Company provided the following information for the current year: Inventory, January 1 2,000,000 Purchases 7,500,000 Purchase returns and 500,000 allowances Sales returns and 750,000 allowances Inventory, December 31 20% Gross profit rate on net sales What is the amount of gross sales for the current year? O P7,000,000 P7,750,000 O P8,500,000 O P9,125,000

Altis Company reported the following information for the currentyear: Sales (100,000 units atP150). Sales discount. Purchases Purchase discount. 15,000,000 1,000,000 9,300,000 400,000 The inventory purchases during the year were as follows: Unit cost Total cost 1,200,000 1,950,000 2,800,000 3,750,000 800,000 10,500,000 Units Beginning inventory, January 1 Purchases, quarter ended March 31 Purchases, quarter ended June 30 Purchases, quarter ended Sept. 30 Purchases, quarter ended Dec. 31 20,000 30,000 40,000 50,000 10,000 150,000 60 65 70 75 80 The accounting policy is to report inventory in the financial statements at the lower of cost and net realizable value. Cost is determined under the first-in, first-out method. Atyear-end,theentityhasdeterminedthatthereplacementcostofinventorywasP70perunitandthenetrealizable value was P72 per unit. The normal profit margin is P10 perunit. What amount should be reported as cost of goods sold for the currentyear? a.6,500,000 b.6,300,000 c.6,700,000…

Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost of $35,000. The inventory at the end of the month was $20,000. The cost of goods sold would be: $30,000 $35,000 $15,000 $25,000

1.  DeForest Company had the following transactions for the month. Sales for the month are $85 per unit.                                             Number of Units             Cost per Unit              Total  Beginning inventory                  500                                     $40                  $20,000 Purchased Apr.  30                    600                                       45                    27,000 Purchased Aug. 15                    650                                       40                    26,000 Purchased Dec. 10                    700                                       35                    24,500 Totals (goods available)           2,450                                                              97,500 Ending Inventory                       550                                          ?                 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…