Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. Cost of goods sold $ eTextbook and Media 20640 Marigold Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 480 @ $5.40 April 3 400 @ $10.00 4 1,200 @ 5.50 9 1,120 (a 10.00 640 @ 5.80 11 480 11.00 13 960 @ 5.90 23 960 (a) 11.00 21 560 @ 6.00 27 720 @ 12.00 29 400 @ 6.20 3,680 4,240 (a1) Your answer is correct. 6/10 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76.) Average-cost per unit $ 5.76 per unit

Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. Cost of goods sold $ eTextbook and Media 20640 Marigold Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 480 @ $5.40 April 3 400 @ $10.00 4 1,200 @ 5.50 9 1,120 (a 10.00 640 @ 5.80 11 480 11.00 13 960 @ 5.90 23 960 (a) 11.00 21 560 @ 6.00 27 720 @ 12.00 29 400 @ 6.20 3,680 4,240 (a1) Your answer is correct. 6/10 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, eg. 2.76.) Average-cost per unit $ 5.76 per unit

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Sheridan Company had the following transactions for the month of June: Purchases Sales June 1 (balance) 3290@ $3.00 June 2 2400@ $5.40 3 8700 @ 2.90 6 6450@ 5.40 7 4730@ 3.10. 9 3910@ 5.40 15 7100@ 3.20 10 1690@ 8.00 22 1990 @ 3.30 25 22 18 5550@ 8.00 760 @ 8.00 Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is $15655. $15150. O $16359. O $14974.
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Oriole Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 11 18 20 30 390 @ 690 @ 590 @ 490 @ 890 @ 490 $7.00 7.10 7.40 7.50 7.80 8.10 Sales April 5 12 27 28 590 490 1,380 150
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Transactions for the month of June were: Purchases Sales (balance) 1,200 @ $3.20 3,300 @ 3.10 1,800 @ 3.30 2,700 @ 3.40 750 @ 3.50 June 1 June 2 900 @ $5.50 2,400 @ 5.50 1,500 @ 5.50 600 @ 6.00 3 7 15 10 2,100 @ 6.00 300 @ 6.00 22 18 25 12. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is a. $6,165. b. $6,240. c. $6,435. d. $6,705. 13. Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar, is a. $6,144. b. $6,357. c. $6,435. d. $6,483.
A record of transactions for the month of May was as follows: Purchases Sales May 1 (balance) 480 @ $5.50 May 3 240@ $8.00 4 1,390 @ $5.40 6 1,080 @ $8.00 8 800 @ $5.60 12 900 @ $8.50 14 700 @ $5.70 18 450 @ $8.50 22 1,250 @ $5.80 25 1,400 @ $9.00 29 560 @ $5.85 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO. Ending inventory +A $
Subject: acounting
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Oriole Company's record of transactions concerning part X for the month of April was as follows. Purchases April 1 (balance on hand) 4 11 18 26 30 390 690 590 490 890 490 Ⓡ $7.00 April 5 7.10 7.40 7.50 7.80 Sales 8.10 12 27 28 590 490 1,380 150
From the following information regarding the year to 31 August 20X6, what is the accounts payable payment period? You should calculate the ratio using purchases as the denominator. $ Sales 43,000 Cost of sales 32,500 Opening inventory 6,000 Closing inventory 3,800 Trade accounts payable at 31 August 20X6 4,750 A 40 days B 50 days C 53 days D 57 days
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