odf $600 QUESTION 3 At the end of the year, a company reports the following inventory amounts ($ per unit): Item # of Units Cost Net Realizable Value A 100 $4 $6 B 150 $8 $4 The amount to report for ending inventory using the lower of cost and net realizable value is: O $1,000 $1,600 $1,300 O $1,700 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Il meet.goo

odf $600 QUESTION 3 At the end of the year, a company reports the following inventory amounts ($ per unit): Item # of Units Cost Net Realizable Value A 100 $4 $6 B 150 $8 $4 The amount to report for ending inventory using the lower of cost and net realizable value is: O $1,000 $1,600 $1,300 O $1,700 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Il meet.goo

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Description: ces 7.pdfO $600QUESTION 3At the end of the year, a company reports the following inventory amounts ($ per unit):Item# of UnitsCost Net Realizable ValueA100$4$6B150$8$4The amount to report for ending inventory using the lower of cost and net realizab

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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Question 8 0.5 points Save Answer Jlo uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Beginning Inventory (Jan.1) 16 units @ $11 each 14 units @ $18 each Purchase Jan. 11 Purchase Jan. 20 23 units @ $22 each On January 24, the company sold 25 units of this product. The other 28 units remained in inventory at January 31. Assuming average cost flow, the total value of ending inventory at January 31 is: Round ONLY your final answer to the nearest dollar. GIVE ANSWERS FOR ALL NUMERIC COMPUTATIONS AS A SINGLE TOTAL DOLLAR AMOUNT WITHOUT USING $ SIGN Moving to another question will save this response. <
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W Using the specific identification method: Units purchased 15 Echo Show's 360 45 Echo Show's 360 60 Echo Show's 360 a. Calculate the cost of ending inventory. Date June 1 July 1 August 1 Ending inventory b. Calculate the cost of goods sold. Cost of goods sold Cost per unit $ 275 250 240
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Concept Videos i es Required information UNIT 30s $45 May 1 April 5 April 10 April 15 April 201 April 22 # Knowledge Check 01 Assume that we use a perpetual inventory system and that five identical units are purchased at the following four dates and costs: 3 $ 10 $ 12 0:00-0:54 $14 $16 - $17 Cost of the ending inventory $ One unit is sold on April 25. The company uses the weighted average inventory costing method. Identify the cost of the ending inventory on the balance sheet. Note: Round your answer to 2 decimal places. 4 % 5 H 6 In
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Given the following: Numberpurchased Costper unit Total January 1 inventory 32 $ 4 $ 128 April 1 52 6 312 June 1 42 7 294 November 1 47 8 376 173 $ 1,110 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 53 units). b. Calculate the cost of goods sold using the FIFO (ending inventory shows 53 units).
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