On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current Cost Index 2018 $41,800 100 2019 57,540 120 2020 60,710 130 2021 73,640 140 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: Compute the ending inventory for the years 2018, 2019, 2020, and 2021, using the dollar-value LIFO method. Year Ending inventory 2018 41,800 V 2019 69,048 X 2020 60,710 x 2021 73,640 x

On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current Cost Index 2018 $41,800 100 2019 57,540 120 2020 60,710 130 2021 73,640 140 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Required: Compute the ending inventory for the years 2018, 2019, 2020, and 2021, using the dollar-value LIFO method. Year Ending inventory 2018 41,800 V 2019 69,048 X 2020 60,710 x 2021 73,640 x

Name: Dollar-Value LIFOOn January 1, 2018, Sato Company adopted the dollar-
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Description: Dollar-Value LIFOOn January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows:YearCurrent CostIndex2018$41,800100201957,540120202060,710130202173,640140This information

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section20.2: Determining The Cost Of Merchandise Inventory

Problem 1OYO

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Dollar-Value LIFO On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's ending inventory records appear as follows: Year Current Cost Index 2018 $35,100 100 2019 48,900 120 2020 51,480 130 2021 62,580 140 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Required: Compute the ending inventory for the years 2018, 2019, 2020, and 2021, using the dollar-value LIFO method. Year Ending inventory 2018 35,100 V 2019 %24 2020 2021 %24
Solve it by creating tables in average cost and fifo lifo method Harbor Company uses a periodic inventory system. The company’s records show the beginning inventory of product no. T-12 on January 1 and the purchases of this item during the current year to be as follows: Date Purchases Units Unit cost Total cost January 1 Beginning inventory 800 11.25 9,000 February 23 Purchase 1,000 13.20 13,200 April 20 Purchase 3,200 10.50 33,600 May 4 Purchase 3,800 12.21 46,398 November 30 Purchase 1,100 10.64 11,704 Totals 9,900 units $113,902 A physical count indicates 1,500 units in inventory at year-end. Determine the cost of the ending inventory based on each of the following methods of. Inventory valuation Average cost method FIFO LIFO Harbor Company uses a periodic inventory system. The company’s records show the beginning inventory of product no. T-12 on January 1 and the purchases of…
File Edit View History Bookmarks Window Help A education.wiley.com ran Hassan D (74) XAYAAD XIKMO O0. w NWP Assessment Playe. N Solved > 5 -1 Accounti. C Home | Chegg.com A D09: Data Min Question 6 of 10 -/3 View Policies Current Attempt in Progress The Vogelson Company accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Camera $11,000 $9.900 Camcorders 7,800 8,500 DVDS 14,000 12,000 What is the lower-of-cost-or-net realizable value of the inventory? Lower-of-cost-or-net realizable value of the inventory 24 Save for Later Attempts: 0 of 1 used Submit Answer 7,288 MAR ¢tv S 80 00 D00 DII DD F2 F3 F4 F5 F6 F7 FB F9 F10 @ # $ & % * 2 3 4 6 7 8 9 日
Edit View History Bookmarks Window Help A education.wiley.com ssan D 74) XAYAAD XIKMO OO. w NWP Assessment Playe. N Solved > 5-1 Accounti.. C Home | Chegg.com A DQ9: Data Mining - S Question 5 of 10 - /3 view Policies Current Attempt in Progress Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 100 $3,34 Purchases: September 8 450 3.50 September 18 350 3.70 A physical inventory on September 30 shows 200 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. (Round cost per unit to 2 decimal places, e.g. 15.25 and ending inventory and cost of goods sold to the nearest dollar, e.g. 5,275.) Ending inventory Cost of goods sold $ Save for Later Attempts: 0 of 1 used Submit Answer 7,288 MAR 7 tv ... 80
* CengageNOWV2 |Online teachi X (310) Inventory Cost Flow First a https://v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLo... Chapter 10 Lab Application eBook Calculate the cost of gods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 850 $70 Purchased 610 72 Sold 400 $90 Sold 350 100 Ending inventory 710 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of units Unit Cost Total Cost of units Unit Cost Total Cost Unit Cost of units Total Cost Beginning Purchase Sale Sale 1:5 O O * A 4O D ENG O Type here to search 5/1
now how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Show how the three inventory accounts are reported on the April 30 balance sheet. Raw materials Work in process Finished goods Inventories Total inventories N 8 hulu
Jeff Whiteheart Practice questions - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do X Cut Calibri 11 Wrap Text General à Copy - BIU - Paste Conditi = E E Merge & Center - $ % * Format Painter Formatt Cipboard Fent Aligrment Number P11 B E F Ava Inc. had the following transactions on its inventory during 2021. Ava uses perpetual inventory system. Ava started the year with 300 units of inventory at a cost of $19. 2 3 4 Date Unit Purchases Selling Price Price per unit $20 Unit Sales 5 March 500 6 Аpril 7 Junie 650 $21 B00 $30 8 August $32 200 9 September 700 $22 10 November 550 $33 11 12 Required: 13 a. Calculate the total cost of goods sold for the year 2021 using perpetual moving average. 14 b. Calculate ending inventory using perpetual moving average. 15 16 17 18 19 20 71 22 23 24 25 76 27 21 25 mins 2 25 mins Q3 15 mins (24 15 mins Q5 15 mins 26 25 mins (+) Reacy Accessibiity: Investigate
Perpetual inventory using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,300 units at $42 Apr. 19 Sale 2,000 units June 30 Purchase 4,800 units at $47 Sept. 2 Sale 6,600 units Nov. 15 Purchase 2,400 units at $49 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Round your answers for quantity values to the nearest whole number, for unit cost values to the nearest cent, and for total cost values to…
Perpetual inventory using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,400 units at $38 Apr. 19 Sale 2,700 units June 30 Purchase 4,000 units at $42 Sept. 2 Sale 5,200 units Nov. 15 Purchase 2,400 units at $43 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Round your answers for quantity values to the nearest whole number, for unit cost values to the nearest cent,…
B66's transactions involving inventory for the month are shown below. Calculate the dollar amount of Sales, Cost of Goods Sold, Gross Margin and Ending Inventory using the three cost allocation methods (FIFO, LIFO, and Weighted Average) with perpetual inventory updating. Number of Units Unit Cost Sales Beginning Inventory 100 $66 Sold 50 $120 Purchased 80 $75 Sold 25 $125 Ending Inventory 105 Show your calculations and clearly label your solution. Submit your work as an attachment to this assignment.
A ebooks.cenreader.com eTextbook: Intermediate Accounting: Reporting and Analysis TT Annotations Accessibility Bookmark Quick Tour Print Search Exercises E8-1. Inventory Write-Down LO 8.1 Stiles Corporation uses the FIFO cost flow assumption and is in the process of applying the LCNRV rule for each of two products in its ending inventory. A profit margin of 30% on the selling price is considered normal for each product. Specific data for each product are as follows: Product A Product B Historical cost $ 80 $ 96 Replacement cost 70 98 Estimated cost of disposal 32 30 Estimated selling price 150 120 E8-2. Inventory Write-Down
ded es Comparing Inventory Costing Methods Better Bottles, Incorporated uses a periodic inventory system and has provided its current inventory information. The Controller has asked you to prepare a comparison of the Ending Inventory and Cost of Goods Sold totals for three different inventory costing methods: Periodic FIFO, LIFO, and Weighted-Average. Description Beginning Inventory Jan. 15 Purchase Jan. 20 Purchase Goods Available for Sale Less: January Sales Ending Inventory Required: of Units Cost per Unit $ 20.00 22.00 30.00 20 27 33 80 36 44 Total Cost $ 400.00 594.00 990.00 $ 1,984.00 1. Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 2. Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 3. Using Periodic Weighted Average, first calculate the cost per unit using the formula below. Next, apply that same cost per unit to calculate both the Ending Inventory and Cost of Goods Sold. 4. Use the given information and your…