Question
A 20 - A company made the following merchandise purchases and sales during the month of July: July 1 Beginning Inventory 75 units at $25
A 20 - A company made the following merchandise purchases and sales during the month of July: July 1 Beginning Inventory 75 units at $25 eachJuly 3 Purchased 348 units at $27 eachJuly 8 Sold 300 unitsJuly 15 Purchased 257 units at $28 eachMay 23 Sold 275 units Assume that the company uses a perpetual FIFO inventory system. What is the dollar value of its ending inventory?
$2940 | |
$3685 | |
$2625 | |
$2852 |
Question 21 - A company made the following merchandise purchases and sales during the month of July: July 1 Beginning Inventory 75 units at $25 eachJuly 3 Purchased 348 units at $27 eachJuly 8 Sold 300 unitsJuly 15 Purchased 257 units at $28 eachMay 23 Sold 275 units Assume that the company uses a Periodic FIFO inventory system. What is the dollar value of its ending inventory?
2940 | |
2685 | |
2625 | |
2852 |
22. A company made the following merchandise purchases and sales during the month of July:
July 1 Beginning Inventory 75 units at $25 each July 3 Purchased 348 units at $27 each July 8 Sold 300 units July 15 Purchased 257 units at $28 each May 23 Sold 275 units
Assume that the company uses a perpetual LIFO inventory system. What is the dollar value of its ending inventory?
25. A company purchased $4,500 of merchandise on May 1 with terms 2/10, n/30. On May 6 it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to. The cash paid on May 8 is
$4250 | |
4165 | |
$4500 | |
$4410
|
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