PROBLEMS P3-1 Ginża Company's provided the following information for the recent fiscal year: Annual inventory rëquirement Cost per unit (other than carrying and ordering costs) Cost of placing.each order. Carrying cost per unit. Ginza has the following alternative.order size in units: 4,000, 2000, 1,000, 500, and 400. Required: Determine the EOQ using the following: Tabular approach. Mathematical approach :4,000 units P90.00 P250.00 P2.00 а. b.
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- Akira Company had the following transactions for the month. Sales for the month are $25 per unit. # of Units Cost per Unit Beginning Inventory 150 $10 Purchased Mar. 31 160 $12 Purchased Oct. 15 130 $15 Ending Inventory 50 ? In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$". Weighted average cost per unit = ___?_____ per unit Cost Allocation Method Cost of Goods Available Cost of Goods Sold Ending Inventory Sales Gross Margin First-in, First-out (FIFO) Last-in, First-out (LIFO) Weighted Average (AVG)Sales during the year were 1,220 units. Beginning inventory was 380 units at a cost of $6 per unit. Purchase 1 was 610 units at $7 per unit. Purchase 2 was 940 units at $8 per unit. Required: a. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. (Enter all values as a positive value.) b. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. (Enter all values as a positive value.)Omega Company reports the following for the month of June. Units Unit Cost June 1 Beg Inventory 300 $4 12 Purchase 450 $6 23 Purchase 750 $5 30 Ending Inventory 222 Compute the cost of the ending inventory and the cost of goods sold under • FIFO • LIFO average-cost method. Answer:
- 10. Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: Unit Units Cost Beginning inventory Purchase (June 5). Purchase (June 15) Sale (June 20). Sale (June 25). Purchase (June 30) 50 $10 10 16 30 14 40 20 10 20 Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be a. $512 b. $560 c. $768 d. $720Sage Hill Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 78 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 33 $8 $264 15 Purchase 27 9 243 24 Purchase 40 10 400 Total 100 $907 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $Enter the Weighted-average unit cost in dollars Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $Enter a dollar amount $Enter a dollar amount $Enter a dollar amountCurrent Attempt in Progress Sunland Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $2 $300 12 Purchase 450 5 2,250 23 Purchase 400 6 2,400 30 Inventory 80 Assume a sale of 500 units occurred on June 15 for a selling price of $7 and a sale of 420 units on June 27 for $8. Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) FIFO LIFO Moving-Average Cost The cost ending inventory $Enter a dollar amount $Enter a dollar amount $Enter a dollar amount The cost of goods sold $Enter a dollar amount $Enter a dollar amount $Enter a dollar amount eTextbook and Media
- 1 Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 January 1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Note: Round your per unit costs to 2 decimal places. Date January 9 Average cost January 9 January 25 Average cost January 25 January 26 Total January 26 Goods purchased # of units Units 250 60 100 Cost per unit Unit Cost $ 2.30 2.50 2.64 Weighted Average - Perpetual: Cost of Goods Sold # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance Cost per unit Inventory BalanceCalculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO). Number of units Unit cost Sales Beginning inventory 800 $ 50 purchased 600 52 Sold 400 $ 80 Sold 350 90 Ending inventory 650 Use this chart: FIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number of Units Unit Cost Total Cost Number of Units Unit Cost Total Cost Number of Units Unit Cost Total Cost Beginning Purchase Sale…2. Consider the following transactions for DeTrees Company for the month shown in chronological order: Number of Units Unit Cost Sales Beginnig inventory 100 $66 Puchased 80 75 Sold 50 $120 Sold 25 125 Ending inventory 105 In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit,…
- Perpetual: LIFO and Moving-Average The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are shown. Date Beginning Inventory and Purchases Sales Units Cost/Unit Units April 1 (BI) 100 $4.10 100 4.70 200 4.80 April 20 400 5.40 April 30 650 BI: Beginning Inventory Required: Calculate the total amount to be assigned to cost of goods sold for April and the ending inventory on April 30, under each of the following methods. In your calculations round the average unit cost to the nearest cent and answers to the nearest dollar. Cost of Goods Sold Inventory on Hand 1. Perpetual LIFO inventory method $fill in the blank 1 $fill in the blank 2 2. Perpetual moving-average inventory method $fill in the blank 3Lemke Corp. uses a perpetual inventory system with a (moving) weighted average inventory costing method. The following information is available for the month of April: Apr. 1 On hand, 30 units at $5.00 each $150 8 Purchased 40 units at $5.35 each $214 15 Sold 50 units 22 Purchased 40 units at $5.50 each $220 30 On hand, 60 units Refer to the information provided for Lemke Corp. How much is the cost of goods sold for the units sold on April 15th? a.$245 b.$270 c.$260 d.$255Calculate Inventory Carrying Cost (ICC) using the information below. annual demand ordering cost per order inventory carrying cost percentage leadtime unit value #days in the period. EOQ 1000 $75 20% 3 days $30 360 158