Answered step by step
Verified Expert Solution
Question
1 Approved Answer
QUESTION 6 Small Company reports the following amount of inventory for the year. Beginning Inventory 10 units at $2.00 Purchase on Mar. 2nd 15 units
QUESTION 6 Small Company reports the following amount of inventory for the year. Beginning Inventory 10 units at $2.00 Purchase on Mar. 2nd 15 units at $3.00 Sale on Jul. 6th 20 units at $7.00 Purchase on Sept. 9th 10 units at $3.00 Sale on Nov. 30th 10 units at $6.50 If Small Company uses first-in, first-out perpetual inventory system, what is the value of ending inventory as of year-end? O $65 O $70 O $15 O $30 QUESTIONS Large Company reports the following amount of inventory for the year. Beginning Inventory 20 units at $2.00 Purchase on Mar. 2nd 15 units at $3.00 Purchase on Jul. 6th 10 units at $2.50 Purchase on Sept. 9th 20 units at $3.00 Purchase on Nov. 30th 15 units at $2.00 Large Company reports 25 units on hand at year-end. If Large Company uses the first in, first-out periodic inventory system, what is the cost of merchandise sold for the year? O $137.50 O $62.50 O $140 O $145 QUESTION 9 Small Company reports the following amount of inventory for the year. Beginning Inventory 20 units at $2.00 Sale on Mar. 2nd 15 units at $6.00 Purchase on Jul. 6th 10 units at $2.50 Sale on Sept. 9th 10 units at $7.00 Purchase on Nov. 30th 15 units at $2.00 If Small Company uses the last-in, first-out perpetual inventory system, what is the cost of merchandise sold on September 9th O $25 O $70 $22.50 O $35
Step 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