Coronado Co. purchased goods with a list price of $188,900, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Coronado Co. record as the cost of these goods?

Cost of goods purchased ?

Whispering Companys inventory of $1,073,100 at December 31, 2020, was based on a physical count of goods priced at cost and before any year-end adjustments relating to the following items.

(a) Goods shipped from a vendor f.o.b. shipping point on December 24, 2020, at an invoice cost of $67,350 to Whispering Company were received on January 4, 2021.

(b) The physical count included $31,340 of goods billed to Sakic Corp. f.o.b. shipping point on December 31, 2020. The carrier picked up these goods on January 3, 2021. What amount should Whispering report as inventory on its balance sheet?

Inventory to be reported ?

Metlock Corp. had 1,820 units of part M.O. on hand May 1, 2020, costing $28 each. Purchases of part M.O. during May were as follows.

Units Units Cost

May 9 2,320 $29

May 17 3,820 30

May 26 1,320 32

A physical count on May 31, 2020, shows 2,320 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 1,620.) FIFO

LIFO

Average Cost

Bonita Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.

Inventory At Base-Year Cost At Current-Year Cost

1/1/20 $195,800 $195,800

12/31/20 233,800 280,560

12/31/21 244,400 303,056

Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2021?

December 31, 2021

Price Index

Dollar-value LIFO inventory

Windsor Inc., a retail store chain, had the following information in its general ledger for the year 2021.

Merchandise purchased for resale $965,236

Interest on notes payable to vendors 9,372

Purchase returns 17,670

Freight-in 22,550

Freight-out (delivery expense) 16,448

Cash discounts on purchases 6,381

What is Windsors inventoriable cost for 2021?

Windsors inventoriable cost for 2021 is ?