Global company provided the following inventory information for the month of March 2019.   Units Cost (RO) Amount (RO) Mar-1 Beginning inventory 230 20 4,600 Mar 8- Purchases 340 24 8,160 Mar 16- Purchases 380 30 11,400 Mar 14- Sales 350 40 14,000 Based on the above table find out the amount of Closing inventory for the month of March 2019, if the business is evaluating the inventory by using Weighted average method under the Periodic inventory system. a. RO 15,258 b. RO 11,400 c. RO 8,901 d. RO 7,480

Q: Compute the ending inventory and the cost of goods sold under the LIFO cost flow assumption assuming…

A: LIFO is last in first out method in which inventories which are purchased in last will be sold out…

Q: 99) A company uses the periodic inventory system and had the following activity during the current…

A: Weighted Average Inventory MethodThe Weighted Average Inventory Method is an accounting cost flow…

Q: Please explain how to calculate the FIFO and LIFO for the below problem and to prepare the income…

A: First-in-First-Out (FIFO): In First-in-First-Out method, the costs of the initially purchased items…

Q: The following data are available for Sellco for the fiscal year ended on January 31, 2023: 800 units…

A: Costing Methods:For calculating cost of Goods Sold and Cost of Ending Inventory various methods are…

Q: The following inventory data are available for the company: Transactions…

A: Under FIFO method, the ending inventory consists of the most recent inventory purchased. The first…

Q: Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the…

A: Bank Reconciliation Statement - It is the statement showing a summary of banking and business…

Q: WHAT IS THE WEIGHTED-AVERAGE COST PER UNIT BASE OFF THE CHART??   You are provided with the…

A: Weighted average unit cost of inventory means on an average what will be unit cost of inventory.…

Q: Coulter Company uses the LIFO inventory method under theperiodic inventory system. The following…

A: In this numerical has covered the concept of LIFO under Periodic Inventory System for valuing the…

Q: Taylor Company uses a periodic inventory system. The following is partial information from its…

A: The missing values are calculated using the accounting formulas. Sometimes single-entry books are…

Q: You have the following information for Waterway Industries for the month ended October 31, 2022.…

A: "LIFO" stands for last-in, first-out, meaning that the recently purchased inventory items are…

Q: The following data are available for Sellco for the fiscal year ended on January 31, 2023: Sales…

A: FIFO is first in first out which means inventory bought first is sold first.LIFO is last in first…

Q: You have the following information for Wildhorse Inc. for the month ended October 31, 2025.…

A: Weighted-average cost (WAC):Weighted Average Cost (WAC) method is a method of valuation of inventory…

Q: Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1   Inventory 40…

A: FIFO (First-In First Out): Under FIFO inventory accounting, units purchased first are sold first.

Q: Splish Company began operations in 2019 and determined its ending inventory at cost and at…

A: Cost of inventory at 31 Dec 2019 $378,170 Less: Lower of cost or Market at 31 Dec 2019 $358,260…

Q: The following is the information for ABC Corporation for the inventory transactions. The company…

A: 1. FIFO Method - Under FIFO Method, Inventory purchased first is sold first.

Q: You have the following information for Sheridan Inc. for the month ended October 31, 2025. Sheridan…

A: The inventory valuation method includes:FIFO methodLIFO MethodWeighted average methodFIFO method -…

Q: You have the following information for Carla Vista Inc. for the month ended October 31, 2025. Carla…

A: Periodic inventory system:There are different types of inventory systems one of which is the period…

Q: The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 First…

A: Weighted average method is the one which is used to measure the cost of inventory on average cost…

Q: Kimberly Young Company was formed on December 1, 2019. The following information is available from…

A: Under periodic inventory system the cost of goods sold and inventory are not updated simultaneously.…

Q: You are provided with the following information for Concord Inc. for the month ended June 30, 2020.…

A: SOLUTION-                                   COST OF GOODS AVAILABLE FOR SALE      DATE…

Q: The Toso Company uses the retail inventory method. The following information is available for the…

A: Ending inventory is the amount of inventory in hand at the end of the period. It is reported on the…

Q: You have the following information for Sheridan Inc. for the month ended October 31, 2025. Sheridan…

A: DateQty Rate Total01-OctBeg…

Q: .The following data pertain to Cross Company (assume a perpetual inventory system) for the month…

A: FIFO stands for First in first out. Using FIFO method, older units are sold first and newer units…

Q: You have the following information for Bramble Inc. for the month ended October 31, 2022. Bramble…

A: (1 )   LIFO   Method    DatePurchase COGSBalance October  1  54 × 23      =  $ 1242October 3132  ×…

Q: Use this inventory information for the month of March to answer the following questions. March…

A: Particulars No. of Units Cost per unit Total Value Beginning inventory 30 $56 $1,680…

Q: The following data represent the beginning inventory and, in order of occurrence, the purchases and…

A: Inventory valuation is based on the method of flow used by the organization. It can be the first in…

Q: June 1 Balance 11 Purchased 20 Purchased 450 units @ $1 1,200 units @ $2 750 units @ $3 300 units @…

A: .FIFO: This is a method of  inventory valuation .Asset acquired first are sold first in this method…

Q: Consider the following information for Maynor Company, which uses a periodic Inventory system:…

A: Companies use inventory valuation as a method of accounting to determine the worth of unsold…

Q: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, what would the…

A: The cost of goods sold is the total amount your company paid as a cost directly related to the sale…

Q: Crane Company uses a periodic inventory system and the average cost method. At December 31, 2025,…

A: Lower-of-cost-or-net realizable value is the concept that tells the inventory should be recorded at…