The Houston Textile Company (HTC) has the following inventory data for the year 2023 (stated in thousands): Raw Materials: Beginning: $180 Ending: $620 Work-in-Process (WIP): Beginning: $450 Ending: $380 Finished Goods: Beginning: $800 Ending: $950 The cost of goods available for sale was $2,500. What was the cost of goods sold? Options: a) $2,550 b) $1,600 c) $1,650 d) $1,450 The Austin Electronics Company (AEC) has the following inventory data for the year 2022 (stated in thousands): Raw Materials: Beginning: $250 Ending: $600 Work-in-Process (WIP): Beginning: $420 Ending: $500 Finished Goods: Beginning: $900 Ending: $1,050 The cost of goods available for sale was $3,200. What was the cost of goods sold? Options: a) $3,150 b) $2,500 c) $2,300 d) $2,150 The Dallas Auto Parts Company (DAPC) has the following inventory data for the year 2021 (stated in thousands): Raw Materials: Beginning: $320 Ending: $520 Work-in-Process (WIP): Beginning: $600 Ending: $550 Finished Goods: Beginning: $1,200 Ending: $1,100 The cost of goods available for sale was $4,000. What was the cost of goods sold? Options: a) $2,800 b) $2,900 c) $3,000 d) $3,200 The San Antonio Furniture Company (SAFC) has the following inventory data for the year 2020 (stated in thousands): Raw Materials: Beginning: $400 Ending: $450 Work-in-Process (WIP): Beginning: $500 Ending: $400 Finished Goods: Beginning: $1,500 Ending: $1,300 The cost of goods available for sale was $5,000. What was the cost of goods sold? The Fort Worth Machinery Company (FWMC) has the following inventory data for the year 2024 (stated in thousands): Raw Materials: Beginning: $280 Ending: $350 Work-in-Process (WIP): Beginning: $600 Ending: $500 Finished Goods: Beginning: $1,100 Ending: $1,250 The cost of goods available for sale was $4,500. What was the cost of goods sold? The El Paso Paper Company (EPPC) has the following inventory data for the year 2025 (stated in thousands): Raw Materials: Beginning: $330 Ending: $420 Work-in-Process (WIP): Beginning: $460 Ending: $400 Finished Goods: Beginning: $1,300 Ending: $1,450 The cost of goods available for sale was $3,800. What was the cost of goods sold?

The Houston Textile Company (HTC) has the following inventory data for the year 2023 (stated in thousands): Raw Materials: Beginning: $180 Ending: $620 Work-in-Process (WIP): Beginning: $450 Ending: $380 Finished Goods: Beginning: $800 Ending: $950 The cost of goods available for sale was $2,500. What was the cost of goods sold? Options: a) $2,550 b) $1,600 c) $1,650 d) $1,450 The Austin Electronics Company (AEC) has the following inventory data for the year 2022 (stated in thousands): Raw Materials: Beginning: $250 Ending: $600 Work-in-Process (WIP): Beginning: $420 Ending: $500 Finished Goods: Beginning: $900 Ending: $1,050 The cost of goods available for sale was $3,200. What was the cost of goods sold? Options: a) $3,150 b) $2,500 c) $2,300 d) $2,150 The Dallas Auto Parts Company (DAPC) has the following inventory data for the year 2021 (stated in thousands): Raw Materials: Beginning: $320 Ending: $520 Work-in-Process (WIP): Beginning: $600 Ending: $550 Finished Goods: Beginning: $1,200 Ending: $1,100 The cost of goods available for sale was $4,000. What was the cost of goods sold? Options: a) $2,800 b) $2,900 c) $3,000 d) $3,200 The San Antonio Furniture Company (SAFC) has the following inventory data for the year 2020 (stated in thousands): Raw Materials: Beginning: $400 Ending: $450 Work-in-Process (WIP): Beginning: $500 Ending: $400 Finished Goods: Beginning: $1,500 Ending: $1,300 The cost of goods available for sale was $5,000. What was the cost of goods sold? The Fort Worth Machinery Company (FWMC) has the following inventory data for the year 2024 (stated in thousands): Raw Materials: Beginning: $280 Ending: $350 Work-in-Process (WIP): Beginning: $600 Ending: $500 Finished Goods: Beginning: $1,100 Ending: $1,250 The cost of goods available for sale was $4,500. What was the cost of goods sold? The El Paso Paper Company (EPPC) has the following inventory data for the year 2025 (stated in thousands): Raw Materials: Beginning: $330 Ending: $420 Work-in-Process (WIP): Beginning: $460 Ending: $400 Finished Goods: Beginning: $1,300 Ending: $1,450 The cost of goods available for sale was $3,800. What was the cost of goods sold?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 5MC: The moving average inventory cost flow assumption is applicable to which of the following inventory...

See similar textbooks