Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 180 units @ $13 5 Purchase 235 units @ $15 10 Sales 155 units @ $23 15 Purchase 115 units @ $16 24 Sales 105 units @ $24 Select one: a. $4005 b. $3540 c. $7705 d. $4165 e. $8700 Salmone Company reported the following purchases and sales for its only product. Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 260 units @ $11 5_Purchase 275 units @ $13 10 Sales 1 95 units @ $21 15 Purchase 155 units @ $14 24 Sales 145 units @ $22 Select one: d. $4040 e $4575 On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available: Beginning inventory, January 1: $5000 Net sales: $79,000 Net purchases: $77,000 The company's gross margin ratio is 20%. Using the gross profit method, the estimated ending inventory value would be: Select one a. $63,200 b. $82,00 c. $18,800 d. $15,400 e. $15,800 Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 250 units @ $10 5 Purchase 270 units @ $12 10 Sales 190 units @ $20 15 Purchase 150 units @ $13 24 Sales 140 units @ $21 Select one: a. $4230 b. $3460 c. $3590 d. $4100 e. $3860 Jammer Company uses a weighted average perpetual inventory system and reports the following: August 2 Purchase 17 units at $15.00 per unit. August 18 Purchase 19 units at $13.00 per unit. August 29 Sale 34 units. August 31 Purchase 22 units at $18.00 per unit. What is the per-unit value of ending inventory on August 31? (Round your per unit answers to 2 decimal places.) Select one: a. $15.00 b. $18.00 c. $17.66 d. $19:14 e. $13.94 A company had the following purchases during its first year of operations Purchases January: 13 units at $123 February: 23 units at $133 May: 18 units at $143 September 15 units at $153 November 13 units at $163 On December 31, there were 41 units remaining in ending inventory. These 41 units consisted of 5. from January, 7 from February 9 from May, 7 from September, and 13 from November Using the specific identification method, what is the cost of the ending inventory? Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: August 2 16 units were purchased at $7 per unit. August 18 21 units were purchased at $9 per unit. August 29 18 units were sold. What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) Select one: a. $130.00 b. $146.52 d. $189.00 e $132.50 A company's inventory records report the following in November of the current year: Beginning November 1 6 units @ $9 Purchase November 2 12 units @ $11 Purchase November 12 8 units @ $13 On November 8, it sold 14 units for $39 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 14 units sold? Select one a. $290 b. $150 c. $170 d. $198 e. $242 A company's inventory records report the following: August 1 Beginning balance 22 units @ $12 August 5 Purchase 17 units @ $11 August 12 Purchase 21 units @ $12 On August 15, it sold 44 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? Select one a. $960 b. $624 c. $192 d. $528 e. $212 Bedrock Company reported a December 31 ending inventory balance of $415,000. The following additional information is also available: The ending inventory balance of $415,000 included $73,800 of consigned inventory for which Bedrock was the consignor. The ending inventory balance of $415,000 included $25,600 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year Based on this information, the corredt balance for ending inventory on December 31 is Select one: a. $340,000 b. $389,400 a $859600 d. $803,000 ile $241 000 Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method June 1 Beginning inventory 46 units at $20 each June 15 Sale of 38 units for $50 each June 29 Purchase 38 units at $25 each The cost of the ending inventory is: Select one A company had inventory on November 1 of 5 units at a cost of $27 each. On November 2, they purchased 17 units at $29 each. On November 6 they purchased 13 units at $32 each. On November 8, 15 units were sold for $62 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? Select one: a. $570 b. $597