The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balanceson hand, purchases, and requisitions of throttles is given in the following table.Number ofUnitsUnit PriceBalance ofUnitsTransactionDateJan. 1Beginning balance50$2.5050Purchased150$3.00200Jan. 20Feb. 3Issued40160Mar. 25Issued7090Jun. 14Purchased75$4.00165Aug. 27Sep. 16Oct. 7Dec. 13Issued65100Issued5545Purchased75$4.50120Issued7050If a perpetual inventory record of throttles is maintained on a moving average basis, the 165 itemsin inventory on June 14 will have a unit cost of (rounded to three decimal places):

Name: The Kennedy Company uses throttles in its assembly of lawn mowers. In
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balanceson hand, purchases, and requisitions of throttles is given in the following table.Number ofUnitsUnit PriceBalance ofUnitsTransactionDateJan. 1Beginning bala

Inventory Valuation Method: Inventory valuation methods are used to determine the cost of goods sold…

Business

Accounting

The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balances on hand, purchases, and requisitions of throttles is given in the following table. Number of Units 50 Balance of Units Transaction Unit Price Date Jan. 1 Beginning balance $2.50 50 Jan. 20 Purchased 150 $3.00 200 Feb. 3 Issued 40 160 Mar. 25 Issued 70 90 Jun. 14 Purchased 75 $4.00 165 Aug. 27 Sep. 16 Oct. 7 Issued 65 100 Issued 55 45 Purchased 75 $4.50 120 Dec. 13 Issued 70 50 If a perpetual inventory record of throttles is maintained on a moving average basis, the 165 items in inventory on June 14 will have a unit cost of (rounded to three decimal places):

The Kennedy Company uses throttles in its assembly of lawn mowers. Information as to balances on hand, purchases, and requisitions of throttles is given in the following table. Number of Units 50 Balance of Units Transaction Unit Price Date Jan. 1 Beginning balance $2.50 50 Jan. 20 Purchased 150 $3.00 200 Feb. 3 Issued 40 160 Mar. 25 Issued 70 90 Jun. 14 Purchased 75 $4.00 165 Aug. 27 Sep. 16 Oct. 7 Issued 65 100 Issued 55 45 Purchased 75 $4.50 120 Dec. 13 Issued 70 50 If a perpetual inventory record of throttles is maintained on a moving average basis, the 165 items in inventory on June 14 will have a unit cost of (rounded to three decimal places):

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The following is the summary of the receipts and issues of material in a Special Ice factory during December 2020. Prepare Store Ledger according to First in First Out Method. December 2020 Dec 1. Opening balance 500 units @ GH¢25 per unit Dec 3. Issue 70 units Dec 4. Issue 100 units Dec 8. Issue 80 units Dec 13. Received from supplier 200 units @ GH¢24.50 per unit Dec 14. Returned to store 15 units @ GH¢24 per unit Dec 16. Issue 180 units. Dec 20. Received from supplier 240 units @ GH¢24.75 per unit Dec 24. Issue 304 units. Dec 25. Received from supplier 320 units @ GH¢24.50 per unit Dec 26. Issue 112 units Dec 27. Returned to store 12 units @ GH¢24.50 per unit Dec 28. Received from supplier 100 units @ GH¢25 per unit b. Two components P, Q are used as follows. Normal usage 1000 units per week each. Re-ordering quantity P - 20,000 units Q - 8,000 units Re-ordering period P - 4 to 6 weeks Q…
Subject :- Accouning
Please solve the question
Ivanhoe center began opsratons on July 1. It uses a parpstual invantory system. Uuring July, the company had the following purchases and aales. Calsulate waighted-avarage unit cost (Round answers to 3 decimal places, eg. 15.251.) July 1$ July6 $ July 11$ July 14$ July 21$ July 27$ (a2) Determins the ending imentory under a perpatual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO. (For calculation and answers purpose round unit costs to 3 decimal places, eg. 15.251 and ending inventory values to 0 decimal places, eg. 515.) Attempts: 0 of 3 used Using multiple attempts will impact your score. 2096 scors reduction after attempt 2 (b) The parts of this question must be completed in order. This part will be available when you complete the part above.
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Buffalo Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Buffalo Corp.’s purchases of EZslide snowboards during September. During the same month, 103 EZslide snowboards were sold. Buffalo Corp. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 14 $110 $ 1,540 Sept. 12 Purchases 50 113 5,650 Sept. 19 Purchases 54 114 6,156 Sept. 26 Purchases 22 115 2,530 Totals 140 $15,876 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $Enter a dollar amount $Enter a dollar amount $Enter a dollar amount (b) Compute the…
Rahul
Required Information [The following information applies to the questions displayed below.] The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased 410 units @ $ 9 = 210 units@ $ 11 = 290 units @ $ 14 = 100 units @ $ 16 = $3,690 2,310 4,060 1,600 During the year, The Shirt Shop sold 840 T-shirts for $25 each. c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. Difference in gross margin between the FIFO and LIFO cost flow assumptions
The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 32 MCQ 32. Identify the total receipts amount for the month of March 2021 for Al Reem Manufacturing LLC. a.RO 765 b.RO 1,480 c.RO 1,285 d.RO 1,850
the following information is for the inventory of mini-kettles at Pronghorn Company Limited for the month of May. Date Transaction UnitsIn UnitCost Total UnitsSold UnitPrice Total May 1 Balance 100 $4.00 $400 6 Purchase 810 4.40 3,564 7 Sale 350 $7.20 $2,520 10 Sale 350 7.40 2,590 12 Purchase 450 5.00 2,250 15 Sale 250 8.00 2,000 18 Purchase 340 4.80 1,632 22 Sale 450 7.60 3,420 25 Purchase 510 4.60…
Haresh
The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Identify the total issues amount for the month of March 2021 for Al Reem Manufacturing LLC. a. RO 765 b. RO 1,850 c. RO 1,285 d. RO 1,480