CALCULATORFULL SCREENPRINTER VERSION( BACKNEXTURCESExercise 6-09 a1,a2, b (Part Level Submission)prkMoath Company reports the following for the month of June.-02 a-c-04 a-UnitsUnit CostTotal CostJune 1Inventory$5$ 1,000200E (Part12Purchase40062,40023Purchase30072,100a2, bission)30Inventory100Study(a1)M Your answer is correct.Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.)Weighted Average Unit Cost6.11SHOW SOLUTIONLINK TO TEXT Open AssignmentCALCULATORFULL SCREENPRINTER VERSION4 BACKNEXTURCESLINK TO TEXTprk-02 a-c04 a-Attempts: 2 of 15 usedE (Part(a2)а2, ыission)Compute the cost of the ending inventory and the cost of goods sold using the average-cost method. (Roundanswers to 0 decimal places, e.g. 1,250.)StudyThe ending inventoryThe cost of goods soldLINK TO TEXTAttempts: 0 of 15 usedSAVE FOR LATERSUBMIT ANSWER» (b)The parts of this question must be completed in order. This part will be available when you complete the part

Given, Total Units = 900 Ending Units = 100 Units Sold = 800

Moath Company reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 200 $5 $ 1,000 12 Purchase 400 6 2,400 23 Purchase 300 7 2,100 30 Inventory 100 (a1) MYour answer is correct. Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.) Weighted Average Unit Cost 6.11

Moath Company reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 200 $5 $ 1,000 12 Purchase 400 6 2,400 23 Purchase 300 7 2,100 30 Inventory 100 (a1) MYour answer is correct. Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.) Weighted Average Unit Cost 6.11

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Exercise 211 (Part Level Submission) Concord Company reports the following for the month of June. Unit Date Explanation Units Total Cost Cost June 1 Inventory 360 $3 $1,080 12 Purchase 840 4 3,360 23 Purchase 1,200 6,000 30 Inventory 448 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average cost. (Round average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 2,520.) FIFO LIFO AVERAGE COST Ending inventory Cost of goods sold this auoction Onon Show Work %24 %24 %24
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Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Cost April 2 April 15 April 20 Total Purchase Purchase Purchase a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 1 1 1 3 Average cost per unit ($837+ 3 units) Assume that one unit is sold on April 27 for $374. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last- in, first-out (LIFO); and (c) weighted average cost method. $276 279 282 $837 $279 Gross Profit Ending Inventory
Cullumber Company sells one product. Presented below is information for January for Cullumber Company. Nov. 1 Inventory 300 units at $ 12 each 5 Purchase 180 units at $ 13 each 10 Sale 410 units at $ 19 each 15 Purchase 410 units at $ 12.50 each 21 Sale 430 units at $ 20 each 30 Purchase 400 units at $ 12.80 each Cullumber uses the FIFO cost flow assumption. All purchases and sales are on account.
Joe's Products Co. had the following purchase transaction during the first quarter of its fiscal year: Number : Per of Units Unit Date Transaction Jan. 1 Beg. Inv. 50 $15 | Jan. 15 Purchase 100 $18 Feb. 15 Purchase 120 $21 March 15 Purhcase 80 $25 Joe's Products sold 170 units at $30/unit during the quarter. Of the untis sold, 20 came from beginning inventory, 30 came from the Feb. 15 purchase, and 50 came form the March 15 purchase with the remaining units coming from Jan. 15. Fill out the table below with the COGS, Ending Inventory, and Gross Margin under the four different inventory flow assumptions: Specific First-In, Last-In, Weighted Identification First-Out First-Out Average Cost Cost of Goods Sold 3,640 2,970 3,890 3,434 Ending Inventory 3,430 4,100 3,180 3,636 Gross Margin 1,460 2,130 1,210 1,666
Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 129 $ 5 $ 645 12 Purchases 344 6 2,064 23 Purchases 203 7 1,421 30 Inventory 234 Correct answer icon Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ enter weighted-average unit cost in dollars rounded to 3 decimal places Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places The cost of goods sold $ enter a dollar amount rounded to 0…
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A company estimated the sales of 20,000 units during the month of June. The beginning inventory on hand is 2,100 units and the desired ending inventory for the month of June is 2,400 units. How many units should the company produce during the month of June? а. 19,700 units b. 20,300 units с. 24,500 units d. 15,500 units
The related data of Finland Company: Quantity Unit cost January 1 800 P200 January 12 600 220 January 24 280 230 At month-end, the physical count show 350 units remained. The entity rounds off the unit cost in 2 decimal places. Under FIFO, how much is the cost of ending inventory?
Using the specific identification method: Date Units purchased Cost per unit Ending inventory March 1 18 Xbox′s 360 $ 265 4 Xbox′s from March April 1 43 Xbox′s 360 240 15 Xbox′s from April May 1 68 Xbox′s 360 230 12 Xbox′s from May a. Calculate the ending inventory. b. Calculate the cost of goods sold.