Question
I cant crack this, can somebody help me? A company's inventory records indicate the following data for the month of July: July 1 Beginning 380
I cant crack this, can somebody help me?
A company's inventory records indicate the following data for the month of July: July 1 Beginning 380 units at $15 each July 5 Purchased 270 units at $17 each July 10 Sold 400 units at $50 each July 20 Purchased 300 units at $22 each July 25 Sold 400 units at $50 each If the company uses the weighted average inventory valuation method and the perpetual inventory system, what would be the cost of its ending inventory? (Round average cost per unit to 2 decimals, and final answer to the nearest dollar.)
4) A company reported the current month purchase and sales data for its only product and uses the perpetual inventory system. Determine the cost assigned to ending inventory and cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail April 1Beginning Inventory 175 units @ $15.00 4 Purchase 150 units @ $16.00 7 Sales 160 units @ $30.00 10 Purchase 200 units @ $17.00 16 Sales 250 units @ $30.00 25 Purchase 160 units @ $18.00 28 Sales 150 units @ $32.00
5) A company uses the retail inventory method and has the following information available concerning its most recent accounting period:
At Cost At Retail Beginning-of-period inventory $148,600 $245,200 Net purchases 677,400 1,229,800 Sales 1,200,000
1. What is the cost-to-retail ratio using the retail method? 2. What is the estimated cost of the ending inventory?
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