Question
1. Compute Altoona Company's number of days' sales in inventory ratio using the following information. Cost of Goods Sold $773,794 Beginning Inventory 57,686 Ending Inventory
1. Compute Altoona Company's number of days' sales in inventory ratio using the following information.
- Cost of Goods Sold $773,794
- Beginning Inventory 57,686
- Ending Inventory 66,510
Round to the nearest whole dollar, no decimal places.
Answer=29
2. Akira Company had the following transactions for the month.
Number of Units | Cost for Units | |
---|---|---|
Beginning Inventory | 150 | $1,500 |
Purchased March 31 | 160 | 1,920 |
Purchased October 15 | 130 | 1,950 |
Ending Inventory | 50 | ? |
Using the first-in, first-out (FIFO) method, determine the cost per unit for the units in ending inventory. Then, calculate the gross margin for the period for each the first-in, first-out (FIFO) method, using periodic inventory system. Assume that all units were sold for $25 each.
answer=5130
I need help showing work the answer is already given.
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