Chipte ne June 5 June 10 June 15 June 20 Purchased 1 unit for $70 Purchased 1 more unit for $80 Purchased 1 more unit for $85 Purchased 1 more unit for $90 Sold 3 units for $90 per unit for total sales of $270 What is the ending inventory under FIFO? What is the ending inventory under LIFO? 175 150 What is the ending inventory under average cost? 108.3 90 +85 175 70 +80 130 90 85 80 +70 325 3 (108.3 Assume that using specific identification, you can identify that the units sold were the one purchased on June 1, June 5 and June 15. What is the ending inventory under specific identification?

Chipte ne June 5 June 10 June 15 June 20 Purchased 1 unit for $70 Purchased 1 more unit for $80 Purchased 1 more unit for $85 Purchased 1 more unit for $90 Sold 3 units for $90 per unit for total sales of $270 What is the ending inventory under FIFO? What is the ending inventory under LIFO? 175 150 What is the ending inventory under average cost? 108.3 90 +85 175 70 +80 130 90 85 80 +70 325 3 (108.3 Assume that using specific identification, you can identify that the units sold were the one purchased on June 1, June 5 and June 15. What is the ending inventory under specific identification?

Name: How do I solve these accouting practice problems? I started on them bu
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Description: How do I solve these accouting practice problems? I started on them but I just want to make sure if I have solved them correctly. Chapter 7June 1June 5June 10June 15June 20-5till ProblemPurchased 1 unit for $70Purchased 1 more unit for $80Purchased 1

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 1MC: Sienna Company uses the FIFO cost flow assumption. Sierra has inventory with a selling price of 100,...

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005 276 FIFO June 1 Purchased 1 unit for $70 June 5 Purchased 1 more unit for $80 June 10 Purchased 1 more unit for $85 >LIFO June 15 Purchased 1 move unit for $90 June 20 Sold 2 units for $100 per unit for total sales of $200 What is the Cost of Goods Sold under FIFO? What is the cast of Goods Sold under LIFO? Sou coiben Mit What is the cost of Goods Sold under average cost? sual ika You can identify that the units sold were the one purchased on Jines and the one purchased on June 15. What is the cost of Goods Sold under specific identification? Do * Take what you have left nebra SVO uni 20 anto sul 2T FANU br Foru
How did you find these?
If the cost of goods available for sale equals $116,029, calculate the cost of goods sold using the table below. Cost per unit Number of units on hand Total cost $860 8 $1760 10 $945 8 6 32 $480 Ending inventory The cost of goods sold is S $6,880 $17,600 $7,560 $2,880 $34,920 ***
Al Shahba has net sales are RO 57500 and gross profit rate is 45% of net sales, then estimated cost of goods sold will be: a. RO 28750 b. RO 31625 c. RO 23000 d. RO 25875
The Oman company exported 200 gauge wires. The cost per unit OMR 140. What is the entry of cost of goods sold?Select one:a.Cost of goods sold Dr14,000Inventory Cr14,000b.Cost of goods sold Dr140Inventory Cr140c.Cost of goods sold Dr28,000Inventory Cr28,000d.Inventory Dr28,000Cost of goods sold Cr
Financial information is presented below: Operating expenses Sales returns and allowances 3000 Sales discounts Sales revenue Cost of goods sold The gross profit rate would be 0.40. 0.60. 0.44. $ 45000 0.38. 8000 180000 101000
Find expressions for the Revenue, Cost, and Profit from selling x thousand items. 2) Item Price Fixed Cost Variable Cost $3.00 $31,471 3775x
Solving pls find
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What is the cost of goods sold? O A. $751,700 OB. $364,500 O C. $455,400 O D. $520,600
(b) Prove the cost of goods sold calculations. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and other answers to O decimal places, e.g. 5,275.) Check of Cost of Goods Sold (FIFO): Apr. 1 Apr. 12 Weighted Average Units Check of Cost of Goods Sold: $ Unit Cost units x $ $ $ Total Cost per unit = $
Do not use dollar signs in your answers. It your answer is a negative number, put a minus sign in front. What is the balance in ending inventory using a LIFO cost flow when you sell 2,300 units for $18 per unit? Date Source 1/1/2011 Beginning Inventory 2/1/2011 Purchase 3/1/2011 Purchase Total Goods Available for Sale 33,400 Units Purchased 950 800 1,500 3,250 Cost Per Unit $14 $10 $12 Total Cost $ 13,300 $ 8,000 $ 18,000 $39,300