The following information pertains to Julia & Company: March 1 Beginning inventory = 33 units @ $5.80 %3D March 3 Purchased 16 units @ 3.60 March 9 Sold 26 units @ 8.60 What is the ending inventory balance for Julia & Company assuming that it uses FIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $98. $58. $133.

The following information pertains to Julia & Company: March 1 Beginning inventory = 33 units @ $5.80 %3D March 3 Purchased 16 units @ 3.60 March 9 Sold 26 units @ 8.60 What is the ending inventory balance for Julia & Company assuming that it uses FIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $98. $58. $133.

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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Riverbed Corp reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 129 $ 5 $ 645 12 Purchases 344 6 2,064 23 Purchases 203 7 1,421 30 Inventory 234 Correct answer icon Your answer is correct. Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ enter weighted-average unit cost in dollars rounded to 3 decimal places Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places The cost of goods sold $ enter a dollar amount rounded to 0…
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The following information pertains to Julia & Company: March 1 Beginning inventory = 26 units @ $5.40 March 3 Purchased 17 units @ 4.20 March 9 Sold 26 units @ 8.30 What is the cost of goods sold for Julia & Company assuming it uses LIFO?
Oriole Company's record of transactions concerning part WA6 for the month of September was as follows. Purchases September 1 (balance on hand) 3 (a1) نا 12 292 2 16 300 200 @ 300 @ 300 @ 500 @ 300 @ $13.00 Average-cost per unit $ @ 13.10 13.25 13.30 13.30 13.40 Sales September 4 17 27 30 400 600 300 200 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, eg. 2.76.)
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A company had inventory, on November 1 of 22 units at a cost of $26 each. On November 2, they purchased 27 units at $27 each. On November 6, they purchased 23 units at $29 each. On November 8, 25 units were sold for $38 each. Using the FIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? Multiple Choice о $1,315 $1,269 $1,222 $1,247 $1,271