Answered step by step
Verified Expert Solution
Question
1 Approved Answer
TB MC Qu. 05-66 (Algo) Bedrock Company reported... 19 Bedrock Company reported a December 31 ending Inventory balance of $417,000. The following additional Information is
TB MC Qu. 05-66 (Algo) Bedrock Company reported... 19 Bedrock Company reported a December 31 ending Inventory balance of $417,000. The following additional Information is also available: 1 points The ending Inventory balance of $417,000 Included $73,000 of consigned Inventory for which Bedrock was the consignor. The ending Inventory balance of $417,000 incorrectly included $24,000 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. eBook Based on this Information, the correct balance for ending Inventory on December 31 is: Print Multiple Choice References o $417.000 O $344.000 d $320.000 O $309.000 $393,000 O TB MC Qu. 05-109 (Algo) Marquis Company uses... 20 1 points Marquis Company uses a weighted average perpetual Inventory system and has the following purchases and sales: Date Activities Units Acquired at cost Units sold at Retail August 2 Purchase 10 units @ $28 = $280 August 18 Purchase 15 units @ $30 = $450 August 29 Sales 12 units sold eBook What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) Print Multiple Choice References $340.00 $350.40 $150.50 $450.00 $730.00
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