If Comcast is upgrading its cable boxes and has 600 obsolete boxes in ending inventory.Beginning inventory and purchasesBeginning inventory: January 1March 1June 1September 1December 1FIFOLIFOWeighted-averageBoxes15,0006,000Endinginventory2,0001,2501,20025,450Box cost$ 1011What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method?Note: Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.151827Total cost$ 150,00066,00030,00022,50032,400$ 300,900

Solution:- There are various methods to value inventory in the books-such as First-In-First-Out…

Answered: If Comcast is upgrading its cable boxes…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 10EB: Calculate the cost of goods sold dollar value for B67 Company for the month, considering the...

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Similar questions

Calculate the cost of goods sold dollar value for B74 Company for the sale on November 20, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
Calculate the cost of goods sold dollar value for B67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
Given the following: Numberpurchased Costper unit Total January 1 inventory 30 $ 5 $ 150 April 1 50 8 400 June 1 40 9 360 November 1 45 10 450 165 $ 1,360 a. Calculate the cost of ending inventory using the LIFO (ending inventory shows 51 units). b. Calculate the cost of goods sold using the LIFO (ending inventory shows 51 units).
Given the following: Numberpurchased Costper unit Total January 1 inventory 40 $4 $160 April 1 60 7 420 June 1 50 8 400 November 1 55 9 495 205 $1,475 A. Calculate the cost of ending inventory using the FIFO (ending inventory shows 61 units). Cost of ending inventory is: B. Calculate the cost of goods sold using the FIFO (ending inventory shows 61 units). Cost of goods sold is:
Given the following: Numberpurchased Costper unit Total January 1 inventory 40 $4 $160 April 1 60 7 420 June 1 50 8 400 November 1 55 9 495 205 A. Calculate the cost of ending inventory using the LIFO (ending inventory shows 61 units). Cost of ending inventory is: B. Calculate the cost of goods sold using the LIFO (ending inventory shows 61 units). Cost of goods sold is:
Given the following: Numberpurchased Costper unit Total January 1 inventory 39 $ 5 $ 195 April 1 59 8 472 June 1 49 9 441 November 1 54 10 540 201 $ 1,648 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 60 units). b. Calculate the cost of goods sold using the FIFO (ending inventory shows 60 units).
Wilkenson Inc. has the following information available for November: Date Units Cost per Unit Total Cost Nov 1 Beginning Inventory 70 $50 $3500 Nov 5 Purchase 30 $60 1800 Nov 14 Sale (60) Nov 25 Purchase 60 $52 3120 Nov 30 Sale (80) Total 20 $162 8420 Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method. Description Perpetual-Weighted Average COGS Cost of Ending Inventory
Given the following: Numberpurchased Costper unit Total January 1 inventory 40 $4 $160 April 1 60 7 420 June 1 50 8 400 November 1 55 9 495 205 $1,475 A. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 61 units). (Round the "average unit cost" and final answer to the nearest cent.) Cost of ending inventory is: B. Calculate the cost of goods sold using the weighted-average method.(Round your intermediate calculations and final answer to the nearest cent.) Cost of goods sold is:
Given the following: Numberpurchased Costper unit Total January 1 inventory 39 $ 5 $ 195 April 1 59 8 472 June 1 49 9 441 November 1 54 10 540 201 $ 1,648 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 60 units). (Do not round intermediate calculations. Round your final answer to the nearest cent.) b. Calculate the cost of goods sold using the weighted-average method. (Use your rounded answer from Part a. Round your final answer to the nearest cent.)
Given the following: Number purchased Cost per unit Total January 1 inventory 42 $ 3 $ 126 April 1 62 6 372 June 1 52 7 364 November 1 57 8 456 213 $ 1,318 A. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 63 units). Note: Round the "average unit cost" and final answer to the nearest cent. Cost of ending inventory $389.97 B. Calculate the cost of goods sold using the weighted-average method. Note: Round your intermediate calculations and final answer to the nearest cent. Cost of goods sold $ Please help with B ONLY. I cannot figure out the weighted average method. Thank you!
Ivanhoe Corporation's computation of cost of goods sold is: Beginning inventory $64200 Add: Cost of goods purchased 540000 604200 Cost of goods available for sale 93000 Less: Ending inventory $511200 Cost of goods sold The average days to sell inventory for Ivanhoe are (Hint: Round intermediate calculation and final answer to 1 decimal place, eg O.6.) O 45.8 days. O 47.5 days. O 66.4 days. O 562 days.
Compute the ending inventory cost using : a. Moving Average Method b. FIFO Method c. LIFO Method

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