Mountain Bikes purchased 100 units at $200 each on January 1. On January 15, they purchased 150 units at $220 each. If they sold 180 units during January, calculate the ending inventory value using FIFO method.
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Mountain Bikes purchased 100 units at $200 each on January 1. On January 15, they purchased 150 units at $220 each. If they sold 180 units during January, calculate the ending inventory value using FIFO method.
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- Jessie Stores uses the periodic system of calculating inventory. The following information is available for December of the current year when Jessie sold 500 units of inventory. Using the FIFO method, calculate Jessies inventory on December 31 and its cost of goods sold for December.Carla Company uses the perpetual inventory system. The following information is available for January of the current year when Carla sold 1,600 units of inventory on January 14. Using the FIFO method, calculate Carlas cost of goods sold for January and its January 31 inventory.Mountain Bikes purchased 100 units at $200 each on January 1. On January 15, they purchased 150 units at $220 each. If they sold 180 units during January, calculate the ending inventory value using FIFO method.
- HaiJacobs Company has inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit. On June 12, it purchased 20 units at $14 per unit. On June 17, it sold 30 units. Using FIFO, what is the value of the inventory at June 17 after the sale?A company has inventory of 17 units at a cost of $11 each on May 1. On May 5, they purchased 11 units at $16 per unit. On May 12, they purchased 18 units at $17 per unit. On May 15, they sold 30 units. Using the FIFO periodic inventory method, what is the value of the inventory at May 15 after the sale?
- Red Company has beginning inventory of 22 units at a cost of $12.00 each on May 1. On May 5, it purchases 9 units at $14.00 per unit. On May 12 it purchases 25 units at $15.00 per unit. On May 15, it sells 39 units for $32 each. Using the FIFO perpetual inventory method, what is the value of the inventory on May 15 after the sale?a company has a beginning inventory of 32 units at a cost of 12.00 each on oct. 1. on October 5, it purchases 22 units at 13.00 per unit. on October 12 it purchases 32 units at 14.00 per unit. on oct. 15 it sells 66 units. using FIFO periodic inventory method, what is the value of the inventory at October 15 after the sale?A company has beginning inventory of 300 units at $ 16.75 each; They purchased 400 units at $ 6.51 each on June 2; On June 15, they also purchased 200 units at $ 12.62 each. A physical count of merchandise inventory at the end of the month revealed that 500 units were sold. What is the cost of goods sold using the FIFO inventory method? Round your answer to the nearest dollar.
- June Corp. sells one product and uses perpetual inventory system. The beginning inventort consisted of 10 units that cost P20 per unit. During the current month, the company purchased 60 units at P20 each. Sales during the month totaled 45 units for P43 each. What is the cost of goods sold using the FIFO method?Sunland Company sells one product and uses a perpetual inventory system. The beginning inventory consisted of 83 units that cost $20 per unit. During the current month, the company purchased 479 units at $20 each. Sales during the month totaled 362 units for $43 each. What is the cost of goods sold using the LIFO method?A company purchased 130 units for $30 each on January 31. It purchased 170 units for $25 each on February 28. It sold 170 units for $60 each from March 1 through December 31. If the company uses the first-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)
