{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-14T00:02:26-04:00", "answer_date": "2024-09-14 00:02:26", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10718803", "url": "\/study-help\/questions\/the-boxwood-company-sells-blankets-for-34-each-the-following-10718803", "question_creation_date_js": "2024-09-14T00:02:26-04:00", "question_creation_date": "Sep 14, 2024 12:02 AM", "meta_title": "[Solved] The Boxwood Company sells blankets for $3 | SolutionInn", "meta_description": "Answer of - The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The co | SolutionInn", "meta_keywords": "boxwood,company,sells,blankets,$34,inventory,records,beginning,1,date,units,cost", "question_title_h1": "The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The company had no beginning inventory on", "question_title": "The Boxwood Company sells blankets for $34 each. The following was taken", "question_title_for_js_snippet": "The Boxwood Company sells blankets for $34 each The following was taken from the inventory records during May The company had no beginning inventory on May 1 Date Blankets Units Cost May 3 Purchase 7 $16 10 Sale 4 17 Purchase 13 $18 20 Sale 5 23 Sale 3 30 Purchase 11 $24 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method a $138 b $84 c $154 d $86", "question_description": "

The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.<\/p>
Date<\/strong><\/td> Blankets<\/strong><\/td> Units<\/strong><\/td> Cost<\/strong><\/td> <\/tr>
May 3 <\/td> Purchase<\/td> 7<\/td>

$16<\/p> <\/td> <\/tr>

10 <\/td> Sale<\/td> 4<\/td> <\/td> <\/tr>
17 <\/td> Purchase<\/td> 13<\/td>

$18<\/p> <\/td> <\/tr>

20 <\/td> Sale<\/td> 5<\/td> <\/td> <\/tr>
23 <\/td> Sale<\/td> 3<\/td> <\/td> <\/tr>
30 <\/td> Purchase<\/td> 11<\/td>

$24<\/p> <\/td> <\/tr> <\/tbody> <\/table>

Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method.<\/p>

a.$138<\/p>

b.$84<\/p>

c.$154<\/p>

d.$86<\/p>", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-14 00:02:26", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/industrial-organizational-psychology-understanding-the-workplace\/13-which-of-the-following-drugs-is-a-depressant-a-2007011", "description": "13. Which of the following drugs is a depressant? a. Ecstasy b. Nicotine c. PCP d. Alcohol", "stars": 0 }, { "url": "\/heartland-companys-budgeted-sales-and-budgeted-cost-of-goods-sold", "description": "Heartland Companys budgeted sales and budgeted cost of goods sold for the coming year are $144,000,000 and $99,000,000 respectively. Short-term interest rates are expected to average 10%. If...", "stars": 3 }, { "url": "\/study-help\/questions\/the-boxwood-company-sells-blankets-for-34-each-the-following-10718803", "description": "The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3...", "stars": 3 }, { "url": "\/study-help\/questions\/bob-makes-his-first-1300-deposit-into-an-ira-earning-6453579", "description": "Bob makes his first $1,300 deposit into an IRA earning 7.9% compounded annually on his 24th birthday and has his last $1,300 deposit on his 42nd birthday (19 equal deposits in all). With no...", "stars": 3 }, { "url": "\/study-help\/questions\/create-a-question-that-explores-proving-operational-interoperability-to-be-999043", "description": "Create a question that explores proving operational Interoperability to be a daunting task, particularly due to privacy and technical issues", "stars": 3 }, { "url": "\/study-help\/questions\/question-writre-a-personal-reflection-think-about-how-you-will-1005888", "description": "Question: Writre a personal reflection Think about how you will use the 3 elements of persuasion (logic, emotion, credibility) to engage your reader. The coronavirus pandemic deeply impacted schools...", "stars": 3 }, { "url": "\/study-help\/questions\/beats-versus-skullcandy-headphones-background-for-this-roleplay-students-will-1007089", "description": "Beats versus Skullcandy Headphones Background For this role-play, students will assume one of three roles: (1) sales representative for Beats headphones; (2) sales representative for Skullcandy...", "stars": 3 }, { "url": "\/study-help\/questions\/state-e-company-acquisitions-during-2-0-2-2-and-1002587", "description": "State E& Company acquisitions during 2 0 2 2 and the aggregated goodwill resulted from these acquisitions. How does each acquisition affect goodwill?", "stars": 3 }, { "url": "\/study-help\/questions\/the-strength-of-a-steel-beam-with-i-crosssection-is-1024241", "description": "The strength of a steel beam with I cross-section is increased by attaching a plate to its upper flange. Determine the moment of inertia and radius of gyration with respect to an axis which is...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/19which-of-the-following-would-most-likely-be-an-indirect-10718802", "next": "\/study-help\/questions\/show-me-the-steps-to-solve-asap-wells-technical-institute-10718804" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "The Boxwood Company sells blankets for $34 each. The following was taken", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/the-boxwood-company-sells-blankets-for-34-each-the-following-10718803" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } "1" } }