Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please include the input formulas D . H H 0 mn Tot U INS Toat Gel 150 110 IS 5 165 LYS Sche THOC To

image text in transcribedplease include the input formulas
image text in transcribed
image text in transcribed
D . H H 0 mn Tot U INS Toat Gel 150 110 IS 5 165 LYS Sche THOC To Det G 15 15 5 121 18 LO 3. 1.250 1.800 3120 001 410 135 1100 5110 3 Check 1. Els w . to our a wo WEGO EVERAGE Sed Cook 3 9.000 5.10 101 Operating I Income before correa DN OBCE COS 03 710 WERED AVERA om wo $ Gaming Chanen Chlorin Puri Cash for Operinge Cathrincome Coromis Eing 2.000 1440 1.100 COM 100 16 wy E 1 F G H FIFO Ending Inventory Unit Total Units Price Cost FIFO Cost of Goods Sold Unit Total Units Price Cost 150 $ 15 $2,250 120 S 16 $ 1,920 60 $ 17 $ 1,020 330 $ 5,190 100 S 100 17 5 1,700 $ 1,700 Check El +CGS El CGS $ 430 Units 6.890 Total Cost highlighted cell-input formula here Input values based on which bucket of units you chese based on B c D 1 Cost of Goods Available For Sale 2 Unit Total 3 Units Price Cost 4 Beginning inventory 150 S 15 $ 2,250 5 First Purchase (cash) 120 S 16 $ 1,920 6 Second Purchase (cash) 160 S 17 S 2,720 7 Total Cost of Goods Available for Sale 430 $ 6,890 8 9 Average Cost $ 16 10 11 12 13 WEIGHTED 14 Income Statements FIFO UFO AVERAGE 15 Sale (330 units @ $30 each) (cash) S 9,900 16 Cost of Goods Sold 5,190 17 Gross Margin 4710 18 Operating Expenses (cash) 1700 19 Income before Taxes 3010 20 Income Tax Expense (30%) 903 21 Net Income S 2. 107 22 WEIGHTED 23 Statement of Cash Flows FIFO UFO AVERAGE 24 Cash from Operating Activities: 25 Cash received from Customers $ 9,900 26 Cash paid for Inventory Purchased (4,640) Cash paid for Operating Expenses (1,700) 28 Cash paid for income Taxes (903) 29 Net Cash Flow from Operating Activities 2657 30 Beginning Cash 1000 31 Ending Cash $ 3,657 32 33 34 1 L M N UFO Ending Inventory Unit Total Units Price Cost K FIFO Cost of Goods Sold Unit Total Units Price Cost 150 $ 15 S 2,250 120 S 16 $ 1,920 60 $ 17 $ 1,020 330 $ 5,190 0 UFO Cost of Goods Sold Unit Total Units Price Cost T We had Av Endingin Total Units Price Cost U w Welthed Average COGS Total Un 1,700 700 Check OGS GS Check 430 Units 6,890 Total Cost $ El +CGS El CGS $ 0 Units Total Cost El CGS El CGS 5 Units Total Cost nput formula here ed on which bucket of units you chose based on method D . H H 0 mn Tot U INS Toat Gel 150 110 IS 5 165 LYS Sche THOC To Det G 15 15 5 121 18 LO 3. 1.250 1.800 3120 001 410 135 1100 5110 3 Check 1. Els w . to our a wo WEGO EVERAGE Sed Cook 3 9.000 5.10 101 Operating I Income before correa DN OBCE COS 03 710 WERED AVERA om wo $ Gaming Chanen Chlorin Puri Cash for Operinge Cathrincome Coromis Eing 2.000 1440 1.100 COM 100 16 wy E 1 F G H FIFO Ending Inventory Unit Total Units Price Cost FIFO Cost of Goods Sold Unit Total Units Price Cost 150 $ 15 $2,250 120 S 16 $ 1,920 60 $ 17 $ 1,020 330 $ 5,190 100 S 100 17 5 1,700 $ 1,700 Check El +CGS El CGS $ 430 Units 6.890 Total Cost highlighted cell-input formula here Input values based on which bucket of units you chese based on B c D 1 Cost of Goods Available For Sale 2 Unit Total 3 Units Price Cost 4 Beginning inventory 150 S 15 $ 2,250 5 First Purchase (cash) 120 S 16 $ 1,920 6 Second Purchase (cash) 160 S 17 S 2,720 7 Total Cost of Goods Available for Sale 430 $ 6,890 8 9 Average Cost $ 16 10 11 12 13 WEIGHTED 14 Income Statements FIFO UFO AVERAGE 15 Sale (330 units @ $30 each) (cash) S 9,900 16 Cost of Goods Sold 5,190 17 Gross Margin 4710 18 Operating Expenses (cash) 1700 19 Income before Taxes 3010 20 Income Tax Expense (30%) 903 21 Net Income S 2. 107 22 WEIGHTED 23 Statement of Cash Flows FIFO UFO AVERAGE 24 Cash from Operating Activities: 25 Cash received from Customers $ 9,900 26 Cash paid for Inventory Purchased (4,640) Cash paid for Operating Expenses (1,700) 28 Cash paid for income Taxes (903) 29 Net Cash Flow from Operating Activities 2657 30 Beginning Cash 1000 31 Ending Cash $ 3,657 32 33 34 1 L M N UFO Ending Inventory Unit Total Units Price Cost K FIFO Cost of Goods Sold Unit Total Units Price Cost 150 $ 15 S 2,250 120 S 16 $ 1,920 60 $ 17 $ 1,020 330 $ 5,190 0 UFO Cost of Goods Sold Unit Total Units Price Cost T We had Av Endingin Total Units Price Cost U w Welthed Average COGS Total Un 1,700 700 Check OGS GS Check 430 Units 6,890 Total Cost $ El +CGS El CGS $ 0 Units Total Cost El CGS El CGS 5 Units Total Cost nput formula here ed on which bucket of units you chose based on method

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

Step: 3

blur-text-image

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

Curriculum Auditing

Authors: Fenwick W. English

1st Edition

0877625921, 978-0877625926

More Books

Students also viewed these Accounting questions

Question

3. Contrast relational contexts in organizations

Answered: 1 week ago

Question

2. Describe ways in which organizational culture is communicated

Answered: 1 week ago

Question

1. Describe and compare approaches to managing an organization

Answered: 1 week ago