Consider the following case and calculate the missing information. Cost of Cost of Cost of Sales Beginning Goods Gross Purchases Goods Ending Revenue Inventory Available Profit Sold Inventory for Sale $900 $1,000 $1,100 $1,200

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Consider the following case and calculate the missing information.

Using the lower of cost or market, what should the total inventory value be for the following items: Item InventoryQuantity Costper Unit Market Valueper Unit Total CostPrice Total MarketPrice Lower of Cost orMarket A 186 $6 $8 $1,116 $1,488 $fill in the blank 1 B 95 $18 $14 $1,710 $1,330 $fill in the blank 2 C 44 $22 $25 $968 $1,100 $fill in the blank 3             $fill in the blank 4

a.) determine the cost assigned to ending inventory and to the cost of goods sold using FIFO. b.) determine the cost assigned to ending inventory and to cost of good solc using LIFO.  c.) compute the gross margin for each method

You are given the following data in relation to two items held in inventory. Item A Item B Purchase price Select one: O a. 230 b. 240 O c. 170 d. 196 e. 206 160 40 200 Costs incurred to date 20 10 30 Estimated selling price 170 80 250 Selling costs 24 20 44 What is the aggregate amount at which inventories of these items should be stated in the statement of financial position?

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can you please answer this account query?

The following information is taken from a company’s records.   Costper Unit Market valueper Unit Inventory Item 1 (10 units) $39     $38         Inventory Item 2 (22 units) 19     19         Inventory Item 3 (12 units) 9     11         Applying the lower-of-cost-or-market approach, what is the correct value that should be reported on the balance sheet for the inventory? $fill in the blank 1

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