Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ZARA uses a First-In-First-Out (FIFO) perpetual inventory system and has the following purchases and sales February 10 50 units were purchased at 28$ per unit

ZARA uses a First-In-First-Out (FIFO) perpetual inventory system and has the following purchases and sales February 10 50 units were purchased at 28$ per unit February 16 75 units were purchased at 30$ per unit. What is the cost per unit sold assuming that 22 units were sold on February 297 O $27 O $25 $30 $28 Mahmood's company has beginning inventory of 35 units at a cost of $40 each on December 1 On December 4, purchases 22 units at $14 noch 20 units are sold on December 10 Using the FIFO inventory method, what is the cost of the 28 units that were sold? O $400 O 8024 O $1120 $616 A company had the following purchases during its first year of operations Purchases Sales Beginning inventory 40 units at $25 January 20 units at $27 May 45 units at $45 September 50 units at $34 October 15units at $48 November 25 units at $33 What is the quantity of units available for sale for the year? O $195 O $60 O $135 $15 MANGO store had the following purchases during its first year of operations. They purchased 1000 units at $50 per units What is the number of units in the ending inventory? O 4,700 units O 1,400 units O 1800 units 07.000 units d 4.300 unit at $25 The store has sold 1,450 units Question 5 A company had the following purchases during its first year of operations Purchases Sales January 6 units at $ 11 May 12 units at $ 12 September 24 units at $ 27 October 24 units at $ 20 What is the cost of goods available for sale before the October sale? O $102 O $322 O $858 O $378

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Becoming An Unstoppable Woman In Finance 29 Strategic Financial Experts

Authors: Hanna Olivas, Adriana Luna Carlos, Heather Stokes, Lisa Chastain, Jennifer Lara, Shannon Lavenia, Althia Lopez, Heather Jackson, Annette Morris, Rebecca Chandler

1st Edition

979-8986936703

More Books

Students also viewed these Accounting questions