Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help with these parts. Thank you in advance Use the following information for questions 19-21: June 1 Inventory 85 @ $1.80 6 Purchased 120

please help with these parts. Thank you in advance image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Use the following information for questions 19-21: June 1 Inventory 85 @ $1.80 6 Purchased 120 @ $1.95 13 Purchased 70 @ $2.00 20 Purchased 130 @ $2.10 25 Purchased 40 a $2.25 Total Units sold in June 300 units Using the weighted average cost method and if necessary rounding to the nearest dollar, the cost assigned to the ENDING INVENTORY (not the cost of Goods Sold) would be O a $440,00 b. 5155.00 O c. $290.00 O d. 5284.00 Use the following information for questions 19-21: June 1 Inventory 85 @ $1.80 6 Purchased 120 @ $1.95 13 Purchased 70 @ $2.00 20 Purchased 130 @ $2.10 25 Purchased 40 @ $2.25 Total Units Sold in June: 300 units Using the first-in, first-out (FIFO) method, the cost assigned to the ENDING INVENTORY (not the cost of Goods Sold) would be O a. 590.00 b. 5385.00 C. $363.00 O d. $310.50 Use the following information for questions 19-21: June 1 Inventory 85 @ $1.80 6 Purchased 120 @ $1.95 13 Purchased 70 @ $2.00 20 Purchased 130 @ $2.10 25 Purchased 40 @ $2.25 Total Units Sold in June: 300 units Using the last-in, first-out (LIFO) method, the COST OF GOODS SOLD is O a. $737.00 O b. $620.00 O c. $579.50 O d. $503.00 Action Co. the cost of goods available for sale during the period was 5360.000. The total retail selling price for those goods was SGOS.OOO. The company had retail sales of 30.000 during the period. What is the estimated cost of the unsold ending invertory, using the retail estimation method? O a5,000 1312.000 O $120,000 O $72,000

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

Sound Investing, Chapter 22 - Management Discussion And Analysis

Authors: Kate Mooney

1st Edition

007171944X, 9780071719445

More Books

Students also viewed these Accounting questions

Question

To understand some of the elements of national cultures

Answered: 1 week ago

Question

Do you agree with the results/recommendations?

Answered: 1 week ago