FMGT 1152

ty was used in F6-15 Xpert Snowboards sells an market. Information follows for Xpert's purchases and sales of the ultra-lightweight snowboard in October: ultra-lightweight snowboard that is considered to be one of the best on the Date Transaction Units Unit Purchase Price Unit Sales Price Beginning inventory Purchase Oct. 1 25 $295 10 30 300 Sale (42) 35 12 $450 13 Purchase 305 25 Sale (45) 460 27 Purchase 20 310 Instructions Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Xpert uses a perpetual inventory system. (Round the weighted average cost per unit to two decimal places.) b) What would be the ending inventory and cost of goods sold if Xpert used FIFO and weighted average in a periodic inventory system? (Round the weighted average cost per unit to two decimal places.) t's sales are for cash and all of nd P6-11A The Baby Store had a beginning inventory unit. During the year, the following purchases were made: 7) AP January 1 of 200 full-size strollers at a cost of $110 per on Units Unit Cost Mar. 15 80 $111 July 20 Sept. 4 Dec. 2 60 110 25 108 10 103 At the end of the year, there were 35 units on hand. The Baby Store uses a periodic inventory system. Instructions (a) Determine the cost of goods available for sale. (b) During the year, The Baby Store sold the strollers for $290 per unit. Calculate the number of units sold during the year and total sales revenue. (c) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted age. (Round the weighted average cost per unit to two decimal places.) (d) Calculate gross profit using (1) FIFO and (2) weighted average. aver JARI determine the cosl U Under what circumstances would il IlaRU P6-11A The Baby Store had a beginning inventory on January 1 of 200 full-size strollers at a cost of $110 per unit. During the year, the following purchases were made: Units FIFO and ge. (LO 7) AP Unit Cost Mar. 15 80 $111 July 20 Sept. 4 Dec. 2 60 110 108 103 25 10 At the end of the year, there were 35 units on hand. The Baby Store uses a periodic inventory system. Instructions (a) Determine the cost of goods available for sale. (b) During the year, The Baby Store sold the strollers for $290 per unit. Calculate the number of units sold during the year and total sales revenue. (0) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted age.(Round the weighted average cost per unit to two decimal places.) (d) Calculate gross profit using (1) FIFO and (2) weighted average. aver ty was used in F6-15 Xpert Snowboards sells an market. Information follows for Xpert's purchases and sales of the ultra-lightweight snowboard in October: ultra-lightweight snowboard that is considered to be one of the best on the Date Transaction Units Unit Purchase Price Unit Sales Price Beginning inventory Purchase Oct. 1 25 $295 10 30 300 Sale (42) 35 12 $450 13 Purchase 305 25 Sale (45) 460 27 Purchase 20 310 Instructions Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Xpert uses a perpetual inventory system. (Round the weighted average cost per unit to two decimal places.) b) What would be the ending inventory and cost of goods sold if Xpert used FIFO and weighted average in a periodic inventory system? (Round the weighted average cost per unit to two decimal places.) t's sales are for cash and all of nd P6-11A The Baby Store had a beginning inventory unit. During the year, the following purchases were made: 7) AP January 1 of 200 full-size strollers at a cost of $110 per on Units Unit Cost Mar. 15 80 $111 July 20 Sept. 4 Dec. 2 60 110 25 108 10 103 At the end of the year, there were 35 units on hand. The Baby Store uses a periodic inventory system. Instructions (a) Determine the cost of goods available for sale. (b) During the year, The Baby Store sold the strollers for $290 per unit. Calculate the number of units sold during the year and total sales revenue. (c) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted age. (Round the weighted average cost per unit to two decimal places.) (d) Calculate gross profit using (1) FIFO and (2) weighted average. aver JARI determine the cosl U Under what circumstances would il IlaRU P6-11A The Baby Store had a beginning inventory on January 1 of 200 full-size strollers at a cost of $110 per unit. During the year, the following purchases were made: Units FIFO and ge. (LO 7) AP Unit Cost Mar. 15 80 $111 July 20 Sept. 4 Dec. 2 60 110 108 103 25 10 At the end of the year, there were 35 units on hand. The Baby Store uses a periodic inventory system. Instructions (a) Determine the cost of goods available for sale. (b) During the year, The Baby Store sold the strollers for $290 per unit. Calculate the number of units sold during the year and total sales revenue. (0) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted age.(Round the weighted average cost per unit to two decimal places.) (d) Calculate gross profit using (1) FIFO and (2) weighted average. aver