Question
Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 970 $ 7.20 Mar. 10 Purchase
Inventory records for Marvin Company revealed the following:
Date | Transaction | Number of Units | Unit Cost | |||||
Mar. | 1 | Beginning inventory | 970 | $ | 7.20 | |||
Mar. | 10 | Purchase | 600 | 7.70 | ||||
Mar. | 16 | Purchase | 790 | 8.15 | ||||
Mar. | 23 | Purchase | 530 | 8.55 | ||||
Marvin sold 2,030 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
The following information pertains to Julia & Company:
March | 1 | Beginning inventory = 29 units @ $5.80 | ||
March | 3 | Purchased 20 units @ 3.80 | ||
March | 9 | Sold 29 units @ 8.30 |
What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Inventory records for Dunbar Incorporated revealed the following:
Date | Transaction | Number of Units | Unit Cost | |||||
Apr. | 1 | Beginning inventory | 570 | $ | 2.50 | |||
Apr. | 20 | Purchase | 380 | 2.61 | ||||
Dunbar sold 640 units of inventory during the month. Ending inventory assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimal places and final answer to the nearest dollar amount.)
Inventory records for Dunbar Incorporated revealed the following:
Date | Transaction | Number of Units | Unit Cost | |||||
Apr. | 1 | Beginning inventory | 470 | $ | 2.13 | |||
Apr. | 20 | Purchase | 340 | 2.67 | ||||
Dunbar sold 580 units of inventory during the month. Ending inventory assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
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