A company's inventory records indicate the following data for the month of April Date Activities Units Acquired at Cost Units Sold at Retail April 1 Beginning inventory 738 units $36 - $26,280 April 7 Purchase 610 units $40 - $24,400 April 11 Sale 1,060 units $110 April 16 Purchase 530 units # $44 = $23,320 April 22 Sale 400 units $110 April 29 Purchase 510 units $5e = $25,500 The company uses a periodic inventory system Determine the cost assigned to ending Inventory using the specific identification method. Ending inventory consists of 280 units from the April 29 purchase 230 units from the April 16 purchase, 240 units from the April 7 purchase, and 100 units from beginning inventory Multiple Choice O $45,580. $42,980 $60,040. O $68,330 O $37,320 Marquis Company uses a welghted average perpetual inventory system and has the following purchases and sales: Units Sold at Retail Date August 2 August 18 August 29 Activities Purchase Purchase Sales Units Acquired at Cost 10 units @ $44 = $440 15 units @ $46 = $690 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) What is the amount of the cost of goods sold for this sale? (Round average cost per unit Multiple Choice $1,130.00 O $532.00 O $542.40 $150.50 $690.00 A company's inventory records indicate the following data for the month of January Units Sold at Retail Units Acquired at Cost 520 units @ $18 = $9,360 500 units @ $20 = $10,000 Date January 1 January 8 January 12 January 17 January 23 January 28 Activities Beginning inventory Purchase Sale Purchase Sale Purchase 920 units @ $70 560 units @ $22 - $12,320 380 units @ $70 620 units @ $24 - $14,888 If the company uses the LIFO perpetua/inventory system, what would be the cost of the ending Inventory? If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory? Multiple Choice $8,360 $20,640. $19,360 $24.840 $25.920 A company's inventory records report the following: Units Sold at Retail Date August 1 August 5 August 12 August 15 Activities Beginning inventory Purchase Purchase Sales Units Acquired at cost 15 units @ $26 = $390 10 units @ $27 = $270 20 units @ $28 = $560 30 units sold Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? Using the FIFO perpetua/inventory method, what is the value of the inventory at August 15 after the sale? Multiple Choice O $280 O $230 $420 O $800 $1,220 A company has the following purchases and sales during Macch. Using the FIFO perpetuw inventory method, what was the cost of the 22 units sold? Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 10 units $26 - $260 March 2 Purchase 10 units $28 $280 March 6 Purchase 6 units 531 - $186 March 8 Sales 22 units @ $60 Multiple Choice O $602 O $628 O $576 . O $726 O $664
