Problem 2what is the total inventory value of the following products?Physical InventoryType of Product:Month:Amount inProductUnitPurchase CostTotal CostStorageGround Beef10-lb bag6 bags$2.10/lbCanned Peaches6 #10/cs3-5/6 cs$39.40/csFlour50 lb2 bags$22.10/bagShrimp10/5 lb per case3-8/10 cs$7.50/lbTotalWhat is the total value of the products?

The total inventory value is given below:

Answered: Gr Canr

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

How much are the ending inventory and cost of sales under the moving average method?
Assuming Average cost flow method is used, how much is the ending inventroy and cost of sales, respectively? A. 130,300 and 101,000 B. 101,000 and 130,000 C. 105,000 and 126,300 D. 126,300 and 105,000
get solutions
Cost formula Information on Entity A's inventory of Product A is as follows: Units Unit Cost Total Cost P 58,650 Balance at Jan. 1 5. Info sho 3,000 P19.55 Lower o Purchases: Jan. 6 Jan. 26 Sales: 10,200 21.50 219,300 2,250 20.60 46,350 Purch Jan. 7 Jan. 31 Freig Sell 2,700 7,200 Fre 2. How much are the ending inventory and cost of sales under Ge the FIFO cost formula? Ending inventory a. 117,300 b. 120,300 Cost of sales 207,000 204,000 C. 121,300 d. 124,300 203,000 200,000 3. How much are the ending inventory and cost
Suppose have The Following infarmasion you Cost Per unit units Po tar Beguing inventory 200 lo Purchases s 5600 14 Feb. 15 400 b,800 17 Jan. 2 400 9000 18 sep. 12 5.. 155 0s 21 Dec. 2 48,000 1,600 30 Sales 12,000 30 400 oPerah ng exp * Prepare Compar tive income statment under [ fi Fog Lifo, weighted average I A ssume company is subject that the to 30% income tax rare
A1 plaese help......
pvn.4 The following information pertains to inventory for a company:March 1Beginning inventory = 32 units @ $5.60March 3Purchased 21 units @ 4.30March 9Sold 29 units @ 8.10What is the cost of goods sold, assuming the company uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Long Answer Problem - Inventory Triangular Scone Inc. sells just one product and had the following transactions during the month: Units Unit Cost/Price Мay: inventory Beginning 280 4.00 11 Purchase 150 2$ 6.00 16 Sale 125 $4 25.00 18 Purchase 130 2$ 15.00 20 Sale 150 2$ 25.00 23 Purchase 75 24 6.00
1. 6 points Calculate the goods available for sale for Atlantis Company, in units and in dollar amounts, given the following facts about their inventory for the period: LO 10.1 Number of Units Cost per Unit Beginning inventory 140 $75 Purchased goods during the period 240 77 Sold goods during the period 80 125 Purchased goods during the period 220 80
15
Using Average - perpetual, how much is the cost of ending inventory per unit? Using Average - perpetual, the cost of goods sold is?
Problem 3 Inventory, CGS, Gross Margin - Inventory Cost Methods. The records of Cookie Company showed the following transactions, in the order given, relating to the major inventory item: Units Unit Cost P6.90 1. Inventory.. 2. Purchase. 3. Sales (at P15). 4. Purchase. 5. Sales (at P15)... 6. Purchase.. 7. Sales (at P18).. 8. Purchase.. 3,000 6,000 4,000 5,000 9,000 11,000 9,000 6,000 7.20 7.50 7:66 7.80

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS