Sunshine Electronics started with 300 printers in inventory. They purchased 500 more and sold 600 during the period. Their ending physical count shows 150 printers. Calculate the number of missing units.
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- Calculate the numberSequoia Co. is evaluating its inventory, computer paper, at the end of the period. The cost of each package of paper costs Sequoia $5 and there are 5,000 units in ending inventory. They sold 27,000 packages during the period. Due to increased use of the electronic cloud, the net realizable value of each package of paper is $3.50. What is the correct amount of the inventory write-down?Great Electronics sells two types of products: laptops and monitors. They purchased the laptops at $500/unit and the monitors at $180/unit. When they examine the ending inventory at the end of the accounting period, they count 50 laptops and 30 monitors. They determine the market value of the laptops is $520/unit and the value of the monitors is $140/unit. Record the journal entry to bring the inventory to the correct amount on the balance sheet.
- Hi there, I'm really stuck on how to solve and sort this problem. Here is a picture of the problem as well as the cells they want me to put the transactions intoAt the end of the current period, a company checks its physical inventory against its records and discovers the following. . 1,700 units (products) were in the warehouse. . 23 of the 1,700 units in the warehouse were destroyed when a storage shelf collapsed. . 180 units were loaded in a trailer. The units are to be delivered to a customer, terms FOB destination. • 140 units were out on consignment to a retailer. Determine the number of units in the company's period-end inventory. Units in Ending Inventory Units of Product in warehouse: Add: Less: Total units in period-end inventory 1,700 units unitsCortez Company sells chairs that are used at computer stations. Its beginning Inventory of chairs was 150 units at $42 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 305-unit purchase at $47 per unit; the second was a 400-unit purchase at $49 per unit. During the period, it sold 495 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending Inventory, assuming that Cortez uses a. FIFO. b. LIFO. c. Weighted average. Do not round Intermediate calculations. Round your final answers to nearest whole dollar amount. FIFO Weighted LIFO Average Cost of goods sold Ending inventory $ 22,595 $ 24,235 $ 23,275 $ 17,640 $ 16,909 $ 16,909
- Do not answer in image format. Maintain accuracy and quality in your answer. Answer completely.Company XYZ is a smart phone merchant. The company purchases smart phones directly from the manufacturer and sells them to customers. During the month of April, the company purchased 55 smart phones and paid $800 for each one. The company managed to sell 50 smart phones during the same month for $1,100 each. The company incurred total Selling and Administrative costs of $4,000 of which 20% is fixed costs. ?Assume that XYZ did not have a beginning inventory during April, what was the gross margin ($) for April 7,800 a O 11,800 b O 15,000 .cO 11,000 d O None of the given answers .e OQuidditch, Inc. is a merchandiser of a single line of broomsticks. At the beginning of the day, the shop had 15 brooms in its inventory. During the day, 5 new brooms were delivered to the shop. By close of business, only 9 brooms remained in inventory The purchase price of each broom from the supplier is $250. In addition, the company pays $5 for shipping on each broomstick and 2% of the purchase price for delivery insurance on each broomstick. These costs have remained consistent since the company began business. Quidditch sells each broomstick for $475. Which of the following statements is correct? A. The product cost per broomstick is $260. B. The ending inventory reported on the company's balance sheet is $2,340. OC. The company's total gross profit for the day is $2,365 OD. The gross profit per broomstick is $215. OE. All of the above statements are correct.
- [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 30 shovels, for a total cost of $90. The company had the following transactions during the month: January 2 Sold 7 shovels on account at a selling price of $10 per unit. January 16 Sold 12 shovels on account at a selling price of $10 per unit. January 18 Bought 4 shovels on account at a cost of $3 per unit. January 19 Sold 12 shovels on account at a selling price of $10 per unit. January 24 Bought 12 shovels on account at a cost of $3 per unit. January 31 Counted inventory and determined that 13 units were on hand. 3-a. What is the dollar amount of shrinkage that you were able to determine in periodic inventory system? 3-b. What is the dollar amount of shrinkage that you were able to determine in perpetual inventory system? Do not give answer in imageVishnuMunabhai