Eneri Company's inventory records show the following data: Units Unit Cost Inventory January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.00 A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the cost of goods available for sale? $169,200 $325,000 $178,000 $206,000
Eneri Company's inventory records show the following data: Units Unit Cost Inventory January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.00 A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the cost of goods available for sale? $169,200 $325,000 $178,000 $206,000
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 4CE: Kulsrud Company would like to estimate the current inventory level. Using the gross profit method...
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.Eneri Company's inventory records show the following data:
Units |
Unit Cost |
|||||
Inventory |
January 1 |
10,000 |
$9.20 |
|||
Purchases: |
June 18 |
9,000 |
8.00 |
|||
November 8 |
6,000 |
7.00 |
A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. What is the cost of goods available for sale?
$169,200 |
$325,000 |
$178,000 |
$206,000 |
|
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