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 55 Purchase Sale Purchase Sale Purchase Sale Ending inventory Cost of goods sold Gross profit Units Unit Cost or Selling Price $26 $ tA 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 tA $ 28 LA 45 29 50 31 50 FIFO tA tA tA AVERAGE-COST

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 55 Purchase Sale Purchase Sale Purchase Sale Ending inventory Cost of goods sold Gross profit Units Unit Cost or Selling Price $26 $ tA 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 tA $ 28 LA 45 29 50 31 50 FIFO tA tA tA AVERAGE-COST

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

Hh2. Account
Please help me with correct answer thanku
! Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Units 46 Unit Cost $ 10 Unit Selling Price 230 11 Sold Ending Inventory (100) 176 $ 14 Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Units Cost per Unit Total Beginning Inventory Purchases July 13 S Prev 1 2 3 of 11 Next
Gadubhai
answer in text form please (without image)
Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) Kinventory method. Date of purchase Units purchased Cost per unit Retail price per unit Beginning inventory $840 $965 February 5 $1,770 $2,115 February 9 March 3 Units sold The cost of goods sold is $ (Type an integer or a decimal.) 43 21 16 25 72 *** $945 $470 $1,208 $700
Please do not give solution in image format thanku
Answer part d and e only.
Hh1. Account
eAssignment/take AssignmentMain.do?invoker=&takeAssignments The inventory data for an item for November are: 17 units at $21 9 units 30 units at $22 20 units 21 units at $22 Nov. 1 4 10 17 30 Inventory Sold Purchased Sold Purchased Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? Oa. $621 Ob. $797 Oc. $629 Od. $858 MAR 8 9 All work saved. Calon- M tv ♫ 8 dise لله 9
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Per Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals Select one: O Units Unit Cost Total Cost Units Sold 50 $124 $6,200 A. $5,952 B. $4,320 C. $4,800 D. $4,224 30 40 120 100 88 3,000 40 32 Assuming Petroni, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is: 3,520 $12,720 72
A v2.cengagenow.com Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 350 units at $10 13 Sale 160 units 22 Purchase 310 units at $13 29 Sale 300 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. Previous Next Check My Work All work saved. Save and Exit Submit Assignment for Grading %24