Sylvia's Designs Co. had the following inventory activity during April:                                                             Units             Unit cost Beginning inventory                            100                  $10 Purchase (April 3)                                 50                     12 Sale (April 10)                                       80 Purchase (April 18)                               40                     14 Purchase (April 23)                               60                     15 Sale (April 28)                                      120   Assuming Sylvia's uses a periodic FIFO cost flow assumption, cost of goods sold for April would be: a. $2,560 b. $750 c. $2,310 d. $500

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A: Calculation of gross profit and ending inventory:

Q: the activity for one of the products of Random Creations: ance, 80 units sse $4,00e 40 units $51 40…

A: Date Units  Rate Total 01-Jan 80  $   50.00  $      4,000 18-Jan 40  $   51.00  $      2,040…

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A: Under the FIFO method, the oldest products in inventory are sold first.Under the LIFO method, the…

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A: Weighted Average Method :— It is one of the methods of inventory valuation in which it is assumed…

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A: Introduction:- The following inventory methods used for inventory valuation as follows under:--…

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A: Average cost per unit = Total cost of Goods available for sale / Total no. of units available for…

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A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods…

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A: The inventory management is one of the most important aspect for cost accounting for any firm. There…

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A: It is an inventory valuation method. Under the weighted average method, the inventory is based on…

Q: The beginning inventory of merchandise at Alfredson Co. and data on purchases and sales for a…

A: 1.

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A: The question is based on the concept of Cost Accounting.

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A: Cost of goods sold is the cost incurred on the making of the goods sold by the entity in the…

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A: In the case of the FIFO method, the inventory which is purchased first is also sold first. Whereas…

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A: Numberof Units Costper Unit Total cost Beginning Inventory 160     $10     $1600 Purchased…

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A: The different methods for valuation of inventory are: 1. LIFO 2. FIFO 3. Weighted Average method

Q: pre.2

A: The objective of the question is to calculate the cost per unit for the units in ending inventory…

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A: Lets understand the basics.There are various inventory methods are followed for calculating cost of…

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Q: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

A: First-in, First Out (FIFO) Under the First in first out (FIFO) method of inventory valuation, Cost…

Q: ble for sale during the year were as follows: r. 1 Inventory 25 units @ $32 $800 ne 16 Purchase 29…

A: Solution: Under periodic method Inventory cost is determined at the end of a specific period as…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.