(in millions) 2020 2021 2022 Beginning inventory $2,000 $2,400 $2,600 Ending inventory 2 400 2 600 2 700
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Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022.
Calculate the days in inventory for 2020, 2021, and 2022:
Step by step
Solved in 2 steps
- What is the estimated cost of the missing inventory on December 31,2021? a. P151,000 b. P165,000 c. P420,000 d. P585,000The estimated inventory amount is: P550,000 P600,000 P784,000 P840,000 P720,0001. Details of OCC Corp inventory balance and Cost of Good Sold are given below: $ Million 2022 2021 Inventory Balance 2032 1940 Cost of Goods Sold 22344 21998 OCC uses LIFO for valuation of approximately 60% of its inventory, and FIFO for the rest. LIFO reserve for 2022 and 2021 are respectively $ 205 and $212. What would be inventory values respectively for 2022 and 2021 if FIFO was being used for inventory valuation? a. $ 2237 and $ 2152 b. $ 1424 and $ 1376 c. $ 1827 and $1728 d. $ 2155 and $ 2067 e. None of the above
- P 750,000 19. Sales revenue Freight in Beginning inventory Purchases discounts Sales returns and allowances Operating expenses Ending inventory Purchases 44,000 75,000 20,000 44,000 99,000 72,000 415,000 Sales discounts 25,000 William Browning, withdrawals Purchase returns and allowances 61,000 36,000 A. The total cost of goods available for sale is: a. P388,000 b. P478,000 C. P470,000 d. P394,000 B.The cost of goods sold is: a. P470,000 b. P478,000 C. P406,000 d. P351,000The estimated inventory amount is: A. P720,000 B. P600,000 C. P784,000 D. P840,000 E. P550,000Calculate the 2022 purchases. Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold $188,500 $588,500 $0 $313,500 2021 $700,000 875,000 675,000 2022 $200,000 388,500 75,000 313,500
- The inventory of Carla Vista Company on December 31, 2020, consists of the following items. Cost per Net Realizable Part Quantity unit Value A419 6,800 $ 16 $ 29 A435 5,780 12 10 A545 13,736 11 16 A615 10,200 15 11 A721 14,960 14 15 A885 19,040 22 27 a A999 12,512 10 1 a Part No. A999 is obsolete and has a realizable value of $ 1 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2020 $ (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2020 %24P 750,000 19. Sales revenue Freight in Beginning inventory 44,000 75,000 20,000 Purchases discounts 44,000 99,000 Sales returns and allowances Operating expenses Ending inventory 72,000 Purchases 415,000 25,000 61,000 Sales discounts William Browning, withdrawals Purchase returns and allowances 36,000 The total cost of goods available for sale is: a. P388,000 b. P478,000 C. P470,000 d. P394,000The inventory of Ivanhoe Company on December 31, 2020, consists of the following items. Cost per Net Realizable Part Quantity unit Value A419 3,400 $ 8 $ 14 A435 2,890 6 5 A545 6,868 5 8 A615 5,100 7 5 A721 7,480 7 7 A885 9,520 11 14 a A999 6,256 5 1 a Part No. A999 is obsolete and has a realizable value of $ 1 each as scrap. LO
- What should be the reported amount of inventory on December 31, 2021? a.3,330,000 b.3,555,000 c.3,705,000 d.3,880,000Determine the Sales for the year, Gross Profit P240,000.00, Ending Inventory P120,000.00, Goods available for sale P 200,000.00 P 460,000.00 P 320,000.00 P 400,000.00 P 300,000.00Assuming that net purchases was P90,000 during the year and that ending merchandise inventory was P20,000 less than beginning merchandise inventory of P250,000, how much was the cost of goods sold? a. P1,130,000 b. P670,000 c. P920,000 d. P1,170,000.