Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me solve the following questions 1. 2. 3. thank you Martinez Company's ending inventory includes the following items. Product Helmets Bats Shoes Uniforms

please help me solve the following questions
1.
image text in transcribed
2.
image text in transcribed
3.
image text in transcribed
thank you
Martinez Company's ending inventory includes the following items. Product Helmets Bats Shoes Uniforms Units Cost per Unit 38 $ 60 31 78 52 97 56 42 Market per Unit $ 56 84 101 42 Compute the lower of cost or market for ending inventory applied separately to each product. Per Unit Total Inventory Items Units Cost Market Cost Market LCM Applied to Items Helmets 38 $ 60 $ 56 Bats 78 31 52 84 101 97 Shoes Uniforms 56 42 42 $ 0 $ 0 (The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Unita Bed at Recans Date Activities Mar. 1 Beginning inventory Mar 5 Purchase Mar. 9 Sales Mar. 10 Purchase Mar. 25 Purchase Mar. 29 Sales Totala Units Acquired at Coat 70 units @ $50.40 per unit 210 units @ $55.40 per unit 70 units $60.40 per unit 120 units $62.40 per unit 230 units # $85.40 per unit 410 units 100 units $95.40 per unit 330 units Problem 6-1A Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale Cost of Goods Available for Sale # of units Cost of Goods Unit Available for Sale Cost per Beginning inventory Purchases March 5 March 18 March 25 Total Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Acquired at Cost 70 unita $50.10 per unit 210 units @ $55.10 per unit Units sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 230 unitaces.40 per unit 70 units 9 $60.40 per unit 120 units 8 $62.40 per unit 470 units 100 units $95.10 per unit 330 units Problem 6-1A Part 2 2. Compute the number of units in ending inventory. Ending inventory unts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Practice Of Modern Internal Auditing

Authors: Lawrence B Sawyer

1st Edition

B0006C58OA, 978-0894130120

More Books

Students also viewed these Accounting questions

Question

How is compensation for sales representatives determined?

Answered: 1 week ago

Question

What can be done to change the health habits of populations?

Answered: 1 week ago