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Need answers to all 4 questions! A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the
Need answers to all 4 questions!
A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold? Date Activities Units Acquired at cost Units sold at Retail Mar. 1 Beginning inventory 10 units $35 = $350 Mar. 2 Purchase 10 units e $37 - $370 Purchase 6 units @ 40 - $240 Sales 22 units e$69 Mar. 6 Mar. 8 Multiple Choice o $800 0 $835 $765 $960 5880 A company uses the periodic inventory system and had the following activity during the current monthly period, Units sold at Retail Date Nov. 1 Nov. 5 Nov. 8 Nov. 16 NOV. 19 Activities Beginning inventory Purchase Purchase Sales Purchase Units Acquired at Cost 112 units @ $20 - $2,240 106 units & $22 - $2,332 56 units @ $23 - $1,288 212 units @ $45 56 units @ $25 - $1,400 Using the weighted-average inventory method, the company's ending inventory would be: Multiple Choice $2,240 $2,596 $2,520 $2,424 Svet Salmone Company reported the following purchases and sales of its only product. Solmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO Units sold at Retail Date May 1 May 5 May 10 May 15 May 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at cost 152 units $10-$1.520 222 units $12 - $2,664 142 units $20 102 units $13 - $1,326 92 units $21 Multiple Choice $3.006 $2504 52.876 O $2,616 SS Salmone Company reported the following purchases and sales for its only product. Solmone uses a perpetua/inventory system. Determine the cost assigned to cost of goods sold using UFO Units Sold at Retail Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at cont 166 units. $10 - $1,660 236 units $12 - $2,832 156 units $20 116 units $13 = $1,508 106 units $21 Multiple Choice 530260 $2620 52750 $1210 Step by Step Solution
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