18 6:0 011326 Grays Company has the following purchases and sales during the month of August. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 12 units that were sold? Date August 1 August 3 Activities Units Acquired at Cost Unite Sold at Retail Beginning inventory 10 units Purchase 20 units $22 - $220 $24-$480 August 6 Sales 12 units sold Mutiple Choice O $240 $268 $284 $262 $260 19 11114 Mc A company's inventory records indicate the following data for the month of April Date Activities April 1 Beginning inventory April 7 Purchase April 11 Sale April 16: April 22. April 29 Purchase Sale Purchase Units Acquired at Cost 880 units $36 $31,680 760 units $40 $30,400 Units Sold at Retail 1,360 units $110 680 units $44 $29,920 660 units $50-$33,000 400 units $110 The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending Inventory consists of 430 units from the April 29 purchase. 380 units from the April 16 purchase, 390 units from the April 7 purchase, and 100 units from beginning inventory Multiple Choice C $65,480 501840 $57420 $104.480 20 A company's inventory records indicate the following data for the month of January Date January 11 January 8 Activities Beginning inventory Purchase 011257 January 12 Sale January 17 January 23 January 28 Purchase Sale Purchase Units Acquired at Cost 390 units 370 units Units Sold at Retail 660 units $70 $18-$7,020 $20-$7,400 430 units $22-59,460 490 units $24 $11,760 315 units $70 if the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory? Munipin Choice $6,930 $13770 $10.00 $10,090. 21 Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Date: June 1 June 15 Activities Beginning inventory Unita Acquired at Cost 15 units $33-5495 Units Sold at Retail 2012 June 29 Sale Purchase 6 units $63 8 units $38 - $304 Mc The cost of the ending Inventory is Mutiple Choice O 5495 O $405 O 1304 5601 5309 < Prev 21 of 40 Nex; > 22 Salmone Company reported the folowing purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Date May 1 May 5 Activities Beginning inventory Purchase 091227 May 10 Sales May 15 May 24 Purchase Sales Units Acquired at Cost 190 units $10-$1,900 260 units $12 - $3,120 Units Sold at Retail 180 units $20 140 units $13-$1,820 130 units $21 Mc Multiple Choice O $3,310 $3.380 $3370 $1.340 $3,500 Prev 2240 Next >>