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Given the following data, what is the cost of purchases? Sales revenue $ 7 2 5 , 0 0 0 Cost of goods sold 3
Given the following data, what is the cost of purchases? Sales revenue $ Cost of goods sold points Ending inventory Beginning inventory A $ B $ C $ D $ Given the following data, what is the cost of beginning inventory? Sales revenue $ points Cost of goods sold Ending inventory Purchases A $ B $ C $ D $ Sales taxes GSTHST paid by a merchandising company on its sales are normally included in the cost of goods sold account. points A True B False Given the following data, calculate the cost of ending inventory using the FIFO costing method: Beginning inventory units at $ per unit Purchases units at $ per unit Purchases units at $ per unit Purchases units at $ per unit Ending inventory units A $ B $ C $ D $ Given the following data, calculate the cost of goods sold for the sale using the weightedaverage method for a perpetual inventory system, rounding to the nearest dollar. Do not round in the process of your calculations, only round your final answer. Beginning inventory units at $ per unit Purchases units at $ per unit points Sale units at $ per unit Purchases units at $ per unit Sale units at $ per unit Ending inventory units A $ B $ C $ D $ Sales Company Ltd paid $ wholesale for one unit of inventory for resale in the retail market. The same inventory can now be purchased for $ The retail sales price of the inventory is $ however, it normally costs $ to sell each unit. Using the lowerofcostand points netrealizablevalue rule the inventory would be reported on Sales Company Ltds balance sheet at: A $ B $ C $ D $ Grasshopper Room Company acquired land and buildings for $ The land is appraised at $ and the buildings are appraised at $ The debit to the Buildings points account will be: A $ B $ C $ D $ Expenditures that increase the efficiency of an asset or extend its useful life are referred to as: points A immediate expenses B capital expenditures C equity expenditures D ordinary repairs
Given the following data, what is the cost of purchases?
Sales revenue $
Cost of goods sold
points
Ending inventory
Beginning inventory
A $
B $
C $
D $
Given the following data, what is the cost of beginning inventory?
Sales revenue $
points
Cost of goods sold
Ending inventory
Purchases
A $
B $
C $
D $
Sales taxes GSTHST paid by a merchandising company on its sales are normally included in the cost of goods sold account.
points
A True
B False
Given the following data, calculate the cost of ending inventory using the FIFO costing method:
Beginning inventory units at $ per unit
Purchases units at $ per unit
Purchases units at $ per unit
Purchases units at $ per unit
Ending inventory units
A $
B $
C $
D $
Given the following data, calculate the cost of goods sold for the sale using the weightedaverage method for a perpetual inventory system, rounding to the nearest dollar. Do not round in the process of your calculations, only round your final answer.
Beginning inventory units at $ per unit
Purchases units at $ per unit
points
Sale units at $ per unit
Purchases units at $ per unit
Sale units at $ per unit
Ending inventory units
A $
B $
C $
D $
Sales Company Ltd paid $ wholesale for one unit of inventory for resale in the retail market. The same inventory can now be purchased for $ The retail sales price of the inventory is $ however, it normally costs $ to sell each unit. Using the lowerofcostand
points
netrealizablevalue rule the inventory would be reported on Sales Company Ltds balance sheet at:
A $
B $
C $
D $
Grasshopper Room Company acquired land and buildings for $ The land is appraised at $ and the buildings are appraised at $ The debit to the Buildings points account will be:
A $
B $
C $
D $
Expenditures that increase the efficiency of an asset or extend its useful life are referred to as:
points
A immediate expenses
B capital expenditures
C equity expenditures
D ordinary repairs
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