The following information is available for Goode Company: May 1 Beginning inventory 18 units @ $4 per unit May 7 Purchase 12 units @ $5 per unit May 10 Sale 14 units May 17 Purchase 10 units @ $6 per unit May 19 Sale 4 units Required: Answer the following questions for Goode Company: a. If perpetual FIFO is used, what is the total ending inventory in dollars? $ b. If perpetual LIFO is used, what is the cost of goods sold for the month? $ c. If weighted average is used, what is the ending inventory? Do not round intermediate calculations. Round your final answer to two decimal places. $ d. If moving average is used, what is the cost per unit sold for the May 10 sale? Round your answer to two decimal places.

Q: The following information is available for Zhang Company: Item Units Unit Total cost Beginning…

A: Solution...     Total costs of goods available for sale = $2,840  Total units available for sale =…

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A: Ending Inventory It is  the amount of inventory presented on the balance sheet by the business .It…

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A: Definition:   Perpetual inventory system: The method or system of maintaining, recording, and…

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A: Under LIFO Inventory company used the latest inventory to sell at the first and beginning inventory…

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A: LIFO method: Under the last-in, first-out (LIFO) method of inventory valuation Inventory purchased…

Q: H. end Calculate the cost of goods sold dollar value for A65 Company for the month, considering the…

A: FIFO Method: Under the FIFO method, there is an assumption that the first goods purchased are also…

Q: Marquis Company uses a weighted-average perpetual inventory system and has the following purchases…

A: Purchase value (August 2)=Units×Per unit=11×$2=$22

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A: AS WE ARE FOLLOWING LIFO - (LAST IN FIRST OUT RULE) : WE WILL SELL FIRST THE STOCK PURCHASED ON…

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A: To ascertain the weighted average cost per unit the Cost of goods available for sale are divided by…

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A: Accounting Inventory Method - The formula to calculate Cost of good sold for an accounting period is…

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A: The inventory valuation is based on the flow of inventory. It can be LIFO, FIFO, or Weighted average…

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A: The inventory valuation method is used to evaluate the closing inventory and cost of goods sold…

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A: GIVEN   Monty Corp. reports the following for the month of June.         Units   Unit Cost…

Q: Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1   Inventory 330 units at…

A: Weighted Average Perpetual Date Goods Purchased Cost of goods sold Ending Inventory   Units Cost…

Q: teven Company uses a perpetual inventory system.  It sells its product to customers for $60 per…

A: Cost of goods sold refers to the total amount incurred by the entity on the goods that are sold out…

Q: Larkspur, Inc. reports the following for the month of June.         Units   Unit Cost   Total…

A: FIFO : First in First Out.  It assumes that the oldest inventory is sold first. LIFO : Last in First…

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Q: Reed Company had the following information for the year ending December 31: Units Unit Cost…

A: LIFO means last in first out Which means that cost of goods sold will consist of lastest purchased…

Q: The following information is available for Goode Company: May 1 Beginning inventory 18 units @ $4…

A: As requested to answer for Part D so answering only D.

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A: Under LIFO method, goods bought in last are sold first .  Out of total 150 units sold , units which…

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A:

Q: Given the following: Number purchased Cost per unit Total January 1 inventory 39 $…

A:

Q: The following units of an item were available for sale during the year: Beginning inventory 20…

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Q: The following information is available for Zhang Company: Units Item Beginning inventory 100 First…

A: Solution...     Cost of goods available for sale  = $2,840  Units available for sale  = 500

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A: Calculate the average cost per unit for June 1 sale and August 27 sale.

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A: Under LIFO method the units sold will be first from the latest purchases and ending inventory should…

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A: Date  Purchase Cost of goods sold Balance Inventory Quantity  Cost per Unit (In Php)   Total Cost…

Q: [The following information applies to the questions displayed below.] The following are the…

A: a. FIFO (Periodic) Units Cost per unit Total Beginning inventory 41 $10 $410 Purchases…

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A: There are various methods of calculating the value of inventory but the most apt method is weighted…

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A: Solution..     Total costs of goods available for sale  = $2,840  Total units available for sale  =…

Q: Using a LIFO perpetual cost flow and the following data for Beamer Company, determine the value of…

A: Last-in First Out: As per LIFO method of accounting, units purchased last are sold first.

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A: Cost of goods sold shows the carrying value of goods that have been sold during a particular period…

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Q: the following information for Coronado Industries for the month ended October 31, 2022. Coronado…

A: Periodic inventory system: It is inventory system which involves the physical counts of goods at a…

Q: he following data are available for Sellco for the fiscal year ended on January 31, 2020:…

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Q: Assume Ava Co has the following purchases of inventory during the first month of operations…

A: The calculation of Ending inventory is given below. You may kindly note the following All amounts…

Q: Use the following information from Marvel Company for the month of July to answer the following…

A: Ending inventory is $2,685

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A: Last in first out: It refers to the method of inventory valuation that calculates the balance of…

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A:

Q: the next two questions use the following facts. The Corner Frame Shop wants to know theeffect of…

A: First in first out: It refers to the method of inventory valuation that calculates the balance of…

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A: FIFO: FIFO stands for First-In, First-Out.  In this method inventory purchased first will be sell…

Q: Anderson Company had the following information for the year ending December 31: Units Unit Cost…

A: Perpetual inventory system: Under this inventory system, the records of inventory are continuously…

Q: HOW DO I CALCULATE THE COST OF THE ENDING INVENTORY AND THE COST OF GOODS SOLD? Date   Explanation…

A: Under FIFO method , goods purchased first are sold first . Under LIFO Method , goods purchased in…