I need step by step. Using FIFO, calculate ending inventory if purchases were 100 units @ $10, then 100 units @ $12, and 150 units were sold.What is the value of ending inventory?
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I need step by step.
Using FIFO, calculate ending inventory if purchases were 100 units @ $10, then 100 units @ $12, and 150 units were sold.
What is the value of ending inventory?
Step by step
Solved in 2 steps
- Using FIFO, calculate ending inventory if purchases were 100 units @ $10, then 100 units @ $12, and 150 units were sold.What is the value of ending inventory?What is the correct Cost of Goods Sold under the FIFO method given the following information? Beginning Inventory: 50 units @€10, Purchase 1: 15 units @€13, Purchase 2: 15 units @€15, Ending Inventory: 12 units. Assume that the sale occurs after all inventory purchases. Answer: XCalculate the ending inventory value?
- What is the correct ending balance of Inventory under the LIFO method given the following information? Beginning Inventory: 35 units @€17, Purchase 1: 10 units @€22, Purchase 2: 15 units @€35, Ending Inventory: 40 units. Assume that the sale occurs after all inventory purchases. Answer: XRoss Electronics has one product in its ending inventory. Per unit data consist of the following: cost, $20; selling price, $30; selling costs, $4. What unit value should Ross use when applying the lower of cost or net realizable value rule to ending inventory?Use LIFO to determine the cost of the ending inventory. Assume 35 FitBits in inventory at the end of the year b. was the Cost of Goods Sold (COGS)?
- XYZ Company has the following inventory information: Beginning inventory: 100 units at $10 per unit Purchases: 200 units at $12 per unit Sales: 250 units Ending inventory: ? Calculate the ending inventory and cost of goods sold using the FIFO (First-In, First-Out) method.In a single period inventory model, we need to decide between stocking 5 units versus 6 units. The probability of demand being 5 or less is 0.6. The cost of each unit is 29 dollars, selling price is 66 dollars, and salvage price is 10 dollars. What is the expected value of the benefit of ordering that extra unit after 5? (Provide one decimal place)Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
- If $7,500 was the beginning inventory, purchases were $16,200, and cost of goods sold were $15,300, how much was the ending inventory last accounting period? helpIf beginning inventory is $200 and purchases are $800,which of the following could be true?a. Ending inventory is $400 and Cost of Goods Sold is$600.b. Ending inventory is $800 and Cost of Goods Sold is$800.c. Ending inventory is $200 and Cost of Goods Sold is$200.d. Ending inventory is $200 and Cost of Goods Sold is$600.solve qn properly.Question:A company has the following information: Beginning Inventory: $50,000Purchases: $120,000Ending Inventory: $60,000The company uses the periodic inventory system. What is the cost of goods sold (COGS) for the period?