Tamarisk Co. purchased goods with a list price of $159,100, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Tamarisk Co. record as the cost of these goods? $ Cost of goods purchased eTextbook and Media Vaughn Company's inventory of $1,117,300 at December 31, 2020, was based on a physical count of goods priced at cost and before any year-end adjustments relating to the following items. Goods shipped from a vendor f.o.b. shipping point on December 24, 2020, at an invoice cost of $70,950 to Vaughn Company were received on January 4, 2021. (a) The physical count included $26,900 of goods billed to Sakic Corp. f.o.b. shipping point on December 31, 2020. The carrier picked up these goods on January 3, 2021. (b) What amount should Vaughn report as inventory on its balance sheet? $ Inventory to be reported eTextbook and Media Bramble Corp. had 1,900 units of part M.O. on hand May 1, 2020, costing $29 each. Purchases of part M.O. during May were as follows. Bramble Corp. had 1,900 units of part M.O. on hand May 1, 2020, costing $29 each. Purchases of part M.O. during May were as follows. Units Cost Units $31 2,400 May 9 3,900 17 32 26 1,400 34 A physical count on May 31, 2020, shows 2,400 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 1,620.) Average Cost FIFO LIFO $ $ Inventory Cost eTextbook and Media Sunland Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. At Base-Year At Current-Year Inventory Cost Cost 1/1/20 $210,800 $210,800 12/31/20 285,360 237,800 Sunland Company adopted the dollar-value LIFO method on January 1, 2020 (using internal price indexes and multi ple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO. At Base-Year At Current-Year Inventory Cost Cost 1/1/20 $210,800 $210,800 12/31/20 237,800 285,360 12/31/21 336,842 276,100 Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 202 1? December 31, 2021 Price Index $ Dollar-value LIFO inventory eTextbook and Media Coronado Inc., a retail store chain, had the following information in its general ledger for the year 2021. $953,463 Merchandise purchased for resale Interest on notes payable to vendors 8,113 16,950 Purchase returns Freight-in 23,100 Freight-out (delivery expense) 17,696 7240 Coronado Inc., a retail store chain, had the following information in its general ledger for the year 2021. $953,463 Merchandise purchased for resale Interest on notes payable to vendors 8,113 Purchase returns 16,950 Freight-in 23,100 Freight-out (delivery expense) 17,696 Cash discounts on purchases 7,342 What is Coronado's inventoriable cost for 202 1? $ Coronado's inventoriable cost for 2021 eTextbook and Media Attempts: 0 of 3 used Save for Later Submit Answer Send to Gradebook Prev Next> Previous Next