Telamark Company uses the moving weighted average method for Inventory costing. Requlred: The following Incomplete inventory sheet regarding Product W506 Is avalable for the month of March 2020. Complete the Inventory sheet. (Use the value of the ending Inventory as your base number and adjust the COGS S amount to the requlred amount to make the Total Goods Avallable for Sale to the total of the Value of the ending Inventory and the COGS total. Negative value should be Indicated with minus sign. Round your Intermedlate and final answers to 2 decimal places.) Purchases/Transportation-In/ (PurchaseReturns/Discounts) Cost of Goods Sold/(Returns to Inventory) Balance in Inventory Date Units Total $ Units Cost/Unit Units Avg Cost/Unit Cost/Unit Total $ Total $ Mar. 1 Brought Forward 80 $ 04.00 5.640.00 2 35 06.00 22 4 (2) 7 65 17 40 07.00 28 43 Totals Goods Available for Sale Goods Sold Ending Inventory

Telamark Company uses the moving weighted average method for Inventory costing. Requlred: The following Incomplete inventory sheet regarding Product W506 Is avalable for the month of March 2020. Complete the Inventory sheet. (Use the value of the ending Inventory as your base number and adjust the COGS S amount to the requlred amount to make the Total Goods Avallable for Sale to the total of the Value of the ending Inventory and the COGS total. Negative value should be Indicated with minus sign. Round your Intermedlate and final answers to 2 decimal places.) Purchases/Transportation-In/ (PurchaseReturns/Discounts) Cost of Goods Sold/(Returns to Inventory) Balance in Inventory Date Units Total $ Units Cost/Unit Units Avg Cost/Unit Cost/Unit Total $ Total $ Mar. 1 Brought Forward 80 $ 04.00 5.640.00 2 35 06.00 22 4 (2) 7 65 17 40 07.00 28 43 Totals Goods Available for Sale Goods Sold Ending Inventory

Name: Telamark Company uses the moving weighted average method for Inventor
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Description: Telamark Company uses the moving weighted average method for Inventory costing.Required:The following Incomplete inventory sheet regarding Product W506 is avallable for the month of March 2020. Complete the Inventorysheet. (Use the value of the endi

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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UMET's Stores had the following inventory transactions in 2020: Transaction Units Cost per unit 1/1 Balance 50 $6 2/14 Sale 25 5/23 Purchase 100 8 8/21 Sale 50 11/5 Purchase 25 12 11/18 Sale 95 Required: Compute tge cost of goods sold and the ending inventory using the periodic inventory system for each of the following cost flow assumptions: a. FIFO b. LIFO c. Weighted average
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FlinFlon Limited sells three products whose prices are sensitive to price fluctuations. The following inventory information is available for these products at March 31, 2018: Product Units Unit Cost Net Realizable Value A 25 $ 7 $ 7 B 30 6 8 C 60 11 10 Instructions: Calculate FlinFlon's inventory at the Lower of Cost and Net Realizable Value (LCNRV). Prepare any journal entry required to record the LCNRV, assuming that FlinFlon uses a perpetual inventory system.
Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2020. Complete the inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS S amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) Date Units Mar 1 12 3 4 7 17 28 Totals Purchases/Transportation-In/ (PurchaseReturns/Discounts) 32 27 S Cost/Unit Brought Forward 96.00 97.00 Goods Available for Sale Total $ Cost of Goods Sold (Returns to Inventory) Units 40 (20) 47 35 Cost/Unit Goods Sold Total S Units 52 $ Balance in Inventory Avg Cost/Unit 94.00 S Ending Inventory Total $ 4,888 00
You have the following information for Bramble Inc. for the month ended June 30, 2022. Bramble uses a periodic inventory system. Date Description Quantity Unit Cost orSelling Price June 1 Beginning inventory 40 $31 June 4 Purchase 135 34 June 10 Sale 110 61 June 11 Sale return 15 61 June 18 Purchase 55 37 June 18 Purchase return 10 37 June 25 Sale 65 67 June 28 Purchase 35 41
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