You have the following information for Bramble Inc. for the month ended October 31, 2022. Bramble uses a periodic method forinventory.DateDescriptionUnitsUnit Cost or Selling PriceOct. 1Oct. 9Beginning inventory54$23Purchase13225Oct. 11Sale10834Oct. 17Purchase10326Oct. 22Sale5539Oct. 25Purchase6528Oct. 29Sale12139(a1)Calculate the weighted-average cost. (Round answer to 3 decimal places, eg. 5.125.)Weighted-average cost per unit$

The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

You have the following information for Bramble Inc for the month ended October 31, 2022. Bramble uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price $23 Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 Beginning inventory 54 Purchase 132 25 Sale 108 34 Purchase 103 26 Sale 55 39 Purchase 65 28 Sale 121 39 (a1) Calculate the weighted-average cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average cost per unit %24

You have the following information for Bramble Inc for the month ended October 31, 2022. Bramble uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price $23 Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 Beginning inventory 54 Purchase 132 25 Sale 108 34 Purchase 103 26 Sale 55 39 Purchase 65 28 Sale 121 39 (a1) Calculate the weighted-average cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average cost per unit %24

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

Suppose the following:Beginning Inventory = 11257Ending Inventory= 12407Beginning Receivables = 6167Ending Receivables = 6879Beginning Payables = 8498Ending Payables = 8829Credit Sales = 93480Cost of Goods Sold = 72325Calculate the following (round final answers to 2 decimal places):Operating Cycle = daysCash Cycle = days
From the following, calculate the cost of ending inventory and cost of goods sold for the FIFO method, ending inventory is 52 units. (Round your answers to the nearest cent.) Beginning inventoryand purchases Units Unit cost January 1 4 $ 1.20 April 10 11 1.70 May 15 11 2.20 July 22 16 2.45 August 19 17 3.20 September 30 21 3.40 November 10 31 3.60 December 15 17 4.00 Cost of ending inventory Cost of goods sold
What is the correct ending balance of Inventory under the LIFO method given the following information? Beginning Inventory: 35 units @€17, Purchase 1: 10 units @€22, Purchase 2: 15 units @€35, Ending Inventory: 40 units. Assume that the sale occurs after all inventory purchases. Answer: X
Give me correct answer with explanation.h
Using the FIFO method, complete the steps below to calculate the ending inventory units, inventory account balance, and cost of goods sold account balance at the end of the period.Date Activity Units Purchase Price (per unit)Sale Price(per unit)1-Feb Beginning Inventory 100 $ 4515-Feb Purchase 700 $ 529-Apr Sale 1 600 $ 9029-May Purchase 500 $ 5610-Jul Sale 2 600 $ 9010-Sep Purchase 400 $ 5815-Oct Sale 3 400 $ 905-Nov Purchase 900 $ 6218-Dec Sale 4 200 $ 901. Compute the Cost of Goods Sold and ending inventory (units and value) after Sale 1.Cost of Goods Sold (units) Total COGS after Sale 1 Inventory Remaining (units) Total Inventory Balance after Sale 1Totals:2. Compute the Cost of Goods Sold and ending inventory (units and value) after Sale 2.Cost of Goods Sold (units) Total COGS after Sale 2 Inventory Remaining (units) Total Balance after Sale 2Totals:3. Compute the Cost of Goods Sold and ending inventory (units and value) after Sale 3. Cost of Goods Sold (units) Total COGS after…
Help
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
Please help me. Thankyou.
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
A & B please
Perez Company had the following information for the year ending December 31: Units Unit Cost Beginning inventory 360 $34 Purchase: April 6 290 35 Sale: May 4 380 Purchase: July 19 590 39 Sale: September 9 450 Purchase: October 10 140 45 Perez uses the perpetual inventory system and the FIFO method. Required: Using FIFO (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold for the year. Cost of ending inventory Cost of goods sold
You have the following information for Ivanhoe Inc. for the month ended October 31, 2025. Ivanhoe uses a periodic system for inventory. Date Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 (a1) (a2) Description Beginning inventory Purchase Sale Purchase Sale Purchase Sale Ending inventory $ Cost of goods sold Gross profit Units Unit Cost or Selling Price $26 +A 55 - Your answer is partially correct. $ 140 tA 100 1.LIFO. 2. FIFO. 3. Average-cost. (Round answers to O decimal places, e.g. 125.) 100 55 65 110 Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods. LIFO 2424 7841 4034 $ $ 28 $ 45 29 50 31 50 FIFO 2885 7380 5370 i +A tA $ LA AVERAGE-COST 2580 7685 4190