Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer my question !Thanks!. All the question is in the file! Question 1 Digital Enterprises uses a perpetual inventory system and has the following
Please answer my question !Thanks!.
All the question is in the file!
Question 1 Digital Enterprises uses a perpetual inventory system and has the following data available from inventory, purchases, and sales for the month of January. Date Activity Unit s Purchase Price (per unit) Jan. 01 Beg. Inventory 110 $4.83 Purchase 1 460 $5.33 Jan. 07 Jan. 16 Jan. 24 Jan. 30 Sale 1 330 Purchase 2 580 Sale 2 Sale Price (per unit) $9.45 $5.7 290 $11 Using the FIFO inventory method calculate the total cost of goods sold for the month. Please round total cost to nearest whole dollar. Question 2 Digital Enterprises uses a perpetual inventory system and has the following data available from inventory, purchases, and sales for the month of January. Date Activity Unit s Purchase Price (per unit) Jan. 01 Beg. Inventory 110 $4.84 Jan. 07 Jan. 16 Jan. 24 Jan. 30 Purchase 1 460 Sale 1 Sale 2 $5.4 330 Purchase 2 580 290 Sale Price (per unit) $9.45 $5.65 $11 Using the Weighted Average inventory method calculate the cost of ending inventory after the last sale. *Note: for calculations, round average cost out to four decimal places and total cost to nearest whole dollar*. Question 3 Digital Enterprises uses a perpetual inventory system and has the following data available from inventory, purchases, and sales for the month of January. Date Activity Unit s Purchase Price (per unit) Jan. 01 Beg. Inventory 110 $4.89 Purchase 1 460 $5.48 Jan. 07 Jan. 16 Jan. 24 Jan. 30 Sale 1 330 Purchase 2 580 Sale 2 290 Sale Price (per unit) $9.45 $5.65 $11 Using the LIFO inventory method calculate the total cost of goods sold for the month. Please round total cost to nearest whole dollar. Question 4 Suppose a company purchased land and a building for $16545663 cash. The appraised value of the building was $12872190, and the land was appraised at $7036613. What dollar amount of the purchase price will be allocated to the Building account? *Note: for calculations, round to nearest whole percentage before calculating the allocation of the purchase price (i.e., if percentage calculates out to be 0.249, then round up to 25%)* Question 55 pts At the beginning of 2023, Apu purchases a new Squishee machine for the KwikEMart with a cost of $194955. The new machine has an estimated life of 9 years or 101942 units (squishee drinks). The estimated salvage value is $20492. During 2023, 12671 units (drinks) were made with the new machine and during 2024, 14329 units (drinks) were made. Calculate the accumulated depreciation on December 31, 2023, using unitsofproduction depreciation. Question 6 At the beginning of 2023, Apu purchases a new Squishee machine for the KwikEMart with a cost of $208064. The new machine has an estimated life of 9 years or 101820 units (squishee drinks). The estimated salvage value is $20405. During 2023, 13290 units (drinks) were made with the new machine and during 2024, 14454 units (drinks) were made. What is net book value at the end of 2025, using straightline depreciation? Question 7 The Galactic Federation purchased a new Xwing at the beginning of 2024 for $286895. The Federation decided to depreciate the Xwing over a 6year period using the doubledeclining balance method. The Federation estimated the Xwing's salvage value at $50,000. What is the depreciation expense for December 31, 2025Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started