Units Unit Cost nuary 1, 2017 (beginning inventory) 1,200 $77 rchases anuary 8, 2017 300 78 anuary 23, 2017 1,250 80.00 February 9, 2017 350 82 February 25, 2017 650 84 hysical inventory on February 28, 2017, shows 1,250 units on hand.
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- Tinker Bell Company has the following: Units Unit Cost ---------- -------------- Inventory, Jan. 1 8,000 $11 Purchase, June 19 13,000 12 Purchase, Nov. 8 5,000 13 If Tinker Bell has 9000 units on hand at Dec. 31, the cost of the ending inventory under FIFO is:36. Inventory records for DD Incorporated revealed the following: Number Unit Date Transaction of Units Cost Apr. 1 Beginning inventory 100 $82.00 Apr. 10 Purchase 1,500 S84.00 DD sold 1,550 units of inventory during the month. Ending inventory assuming LIFO would be $ 37. Inventory records for MM Company revealed the following: NumberUnit Date Transaction of UnitsCost Mar. 1 Beginning inventory 100 $25.00 Mar. 6 Purchase 400 $25,50 Mar. 16 Purchase 500 $25.70 Mar, 23 Purchase 400 $26.00 MM sold 1,370 units of inventory during the month. Ending inventory assuming FIFO would be $ 38. Inventory records for SC Company revealed the following: NumberUnit Date Transaction of UnitsCost Mar. 1 Beginning inventory 100 $38.00 Mar. 3 Purchase 600 S39.00 Mar. 23 Purchase 300 $40.00 SC sold 990 units of inventory during the month. Ending inventory assuming Weighted Average would be 2$Use the following information from Marvel Company for themonth of July. July 1 Beginning inventory 75 units @ $25 eachJuly 3 Purchase 348 units @ $27 eachJuly 8 Sale 300 unitsJuly 15 Purchase 257 units @ $28 eachJuly 23 Sale 275 units Assume that Marvel uses a periodic FIFO inventory system. What is the dollar value of its ending inventory? a. $2,940 c. $2,625 e. $2,705 b. $2,685 d. $2,852
- s4 Cheyenne Corp. uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Unit Cost Inventory Purchases Purchases. Inventory 130 370 200 240 $5 Weighted-average unit cost $ 6 7 Total Cost $650 2,220 1,400 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)sssssssssssssss
- The following three identical units of Item JC07 are purchased during April: Item Beta Units Cost April 2 Purchase $264 April 15 Purchase 268 April 20 Purchase 272 Total $804 Average cost per unit $268 ($804 ÷ 3 units) Assume that one unit is sold on April 27 for $367. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost method. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 3.Samson, Inc had the foliowing balances and transactions dunng 2025 Boginning Merchandise Inventory March 10 Juno 10 October 30 15 units at $01 Sold 12 units Purchased 45 units at 07 Sold 30 units What is the balance of the company's Merchandise Inventory, an disclosod in the December 31, 2025 batance hoet an per the periodic FIFOventory costing methoInventory records for Dunbar Incorporated revealed the following: Date Transaction Numberof Units UnitCost Apr. 1 Beginning inventory 400 $ 2.11 Apr. 20 Purchase 380 2.65 Dunbar sold 580 units of inventory during the month. Ending inventory assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $422. $844. $1,007. $530.
- Bleistine Company had the following transactions for the month. F3 # 3 E Beginning inventory Purchased Jun. 1 Purchased Nov. 1 Ending inventory Calculate the ending inventory dollar value for FIFO periodic. 3,850 110 O4,560 O4,730 KA F4 $ 4 R F5 do 5 Number of Units % 880 750 800 110 F6 T < 6 DELL (7) Cost per Unit $35 40 43 ? F7 Y & 7 (DELL F8 U * 00 F9 8 F10 PrtScr F11 86°Fwhat is AJEs? T1 Feb 1 You invest $10,000 into your brand new company, Just for Kicks. T2 Feb 1 You obtain a bank loan of $20,000 at a rate of 8% per year. T3 Feb 2 You purchase 50 pairs of shoes from Sloan's Shoes. Total cost is $2,500 terms 2/10, net 30. T4 Feb 3 Go to Staples to buy a desk, chair, and filing cabinet etc for a total of $1,100. T5 Feb 3 When at Staples you also purchase $500 worth of packing and office supplies. T6 Feb 4 You pay $400 for the first month of Shopify's Advanced Features. T7 Feb 6 With the website set up, you make your first sales - 10 pairs of shoes at an average price of $120 each.…A company had the following inventory transactions during the month of January 2018. Receipts Jan. 1 500 units @ $20 each Jan. 5 1,000 units @ $30 each Jan 10 600 units @ $40 each Select one: Issues What is the weighted average unit cost of closing inventory to the nearest dollar? O a. $36 O b. $45 O c. $33 O d. $40 Jan. 8 1,200 units @ $50 each