Problem 5* Baby Co. recorded the following data pertaining to raw material X during January 2023: Received Cost 8.00 Your answer Issued on Hand 3,200 1,600 5,600 Date 1/1/23 Inventory 1/11/23 Issue 1/22/23 Purchase 4,000 9.40 The moving-average unit cost of X inventory on January 31, 2023, is. 1,600
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- K Inventory- 10- ACCT1100: Finar x * CengageNOwv2 |Online teachi x 310) Inventory Cost Flow - First x G https://v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker%3&takeAssignmentSessionLo... Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning Inventory 160 $10 Purchased Mar. 31 180 15 Purchased Oct. 15 130 18 Ending Inventory 60 Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Ending Inventory A. First-in, First-out (FIFO) 6,640 B. Last-in, First-out (LIFO) C. Weighted Average (AVG) Feedback Check My Work FIFO and LIFO refer to the inventory 'layers that are used to complete the order for a sale. The amount remaining after the order is 'filled' is the ending inventory amounts. Previgs Next 1:5 Check My Work 4 more Check My…02/ The following data industrial company for materials (X) 1/2 Balance 1000 unit@10$ 1/5 Issued 500 unit 1/9 purchase S00 unit @12 1/10 purchase 1000 unit @14 25/11 Returen 200unit fram issued quantity 5/1 1/30 purchase 300 unit @15 R)prepare the cost of materials used and the cost assigned to the ending inventory using (LiFo, weighted averge method)Receipts and issues of a raw material for a period were: Date Details Units Cost per unit Cumulative Total Sep 1 Balance 240 $3.70 $888 Sep 5 Receipt 440 $3.60 $1584 Sep 15 Issue 240 Sep 31 Issue 300 Using the LIFO inventory pricing method, what is the value of closing inventory on Sep 31? Show solution
- 14. Groh Co. recorded the following data pertaining to raw material X during January 2012: Units Received On Hand 3,200 1,600 5,600 Date Cost Issued 1/1/12 $4.00 Inventory Issue Purchase 1/11/12 1,600 1/22/12 4,000 $4.70 The moving-average unit cost of X inventory at January 31, 2012 is a. $4.35. b. $4.42. c. $4.50. d. $4.70.Calculate the lowe, st-or-market c (a) Inventory a ACCT101_FEX_2021_2_Male A company reported the following data related to its ending inventory 957 95 95abe be1 3 SR1,100 Product Per Market Total on Hand Unit Cost Total abes 33 Cost 100 SR10 SR1,000 75 5a 18 20 16 95abe18ce 14 1,200 60 1,050 95abe18ce33 14 13 840 40 780 640 800 .ce3 the lower-of-cost-or-market on the: SR3,680 SR3,730 Calculate (a) Inventory as a whole (b) inventory applied separately to each product. 95abe1e 95abe18ce 33 MacBook Pro 95abe F3 000 F4 F5 F6 F7 50 DII & F8 6 7 7 V DD F9 T 8A F10 **** Y Co **** U **** **** O [P1 6E 6. R SA4 IIPart B Gott Company adopted the dollar-value LIFO inventory method on 12/31/19. On this date, its inventory consisted of the following items. Additional information: Instructions Item X Y (a) (b) (c) (d) (e) (f) at December 31 1 2 Number of Units 3 4 300 900 Cost Per Unit $2.50 4.50 Units of X in inventory Value of each X unit Units of Y in inventory Value of each Y unit Total Cost $750 4,050 $4,800 2020 450 $3.00 $1,350 1,200 $5.50 $6,600 Compute the price index for 2020. Round to 3 decimal places. Compute ending inventory at 12/31/2020 in base year dollars. Calculate ending inventory at 12/31/20 for dollar value LIFO. Compute the price index for 2021. Round to 3 decimal places. Compute ending inventory at 12/31/2021 in base year dollars. Calculate ending inventory at 12/31/21 for dollar value LIFO. 2021 600 $3.25 $1,950 1,800 $6.00 $10,800
- 8. Celine Company provided the following data relating to an inventory item. Units Unit cost Total cost Beginning balance 10 Purchase 200 250 1,000,000 1,250,000 Jan. 1 5,000 5,000 7,000 1,000 16,000 2,000 15 Sale 16 Sale return 2,400,000 300,000 30 Purchase 150 31 Purchase return 150 Under the perpetual system, what is the moving average unit cost on January 31? а. 167 b. 165 C. 181 d. 2251/1 me A My Home CengageNOWv2| Online te x (28) Migos- Straightenin (C x+ com/ilrn/takeAssignment/takeAssignmentManrao?inprogress=true eBook Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 21,000 units; 58,000 units were started in production; and 63,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 25% complete with respect to conversion. Equivalent Units of Materials Equivalent Units of ConversionMain.do?invoker-8takeAssignment ocate R. & K. Company's beginning inventory and purchases during the fiscal year ended December 31, 20-, were as follows: 1TI Units Unit Price Total Cost Jan. 1- Beginning inventory 20 $12 $240 Apr. 2 1st Purchase 30 $13 390 Aug. 6 2nd Purchase 25 $14 350 Nov. 9 - 3rd Purchase 25 $18 450 $1,430 There are 20 units of inventory on hand at December 31, 20--. 1. Calculate the total amount to be assigned to the ending inventory under each of the following methods: a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) 2. Assume the market price per unit (cost to replace) of the R. &. K. Company's inventory on December 31, was $16. Calculate the total amount to be assigned to the ending inventory on December 31, under each of the following methods: a. FIFO lower-of-cost-or-market b. Weighted-average lower-of-cost-or-market
- enow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%=&takeAssignmentSessionLocator%=&inprogress-false oBook Specific Identification, FIFO, LIFO, and Weighted-Average Boyce Company's beginning Inventory and purchases during the fiscal year ended September 30, 20-2, are shown. Units Unit Price Total Cost October 1, 20-1 Beginning Inventory 400 $15.00 $6,000 October 18 1st purchase 300 16.50 4,950 November 25 2nd purchase 600 17.00 10,200 January 12, 20-2 3rd purchase 700 17.25 12,075 March 17 4th purchase 800 18.00 14,400 June 2 5th purchase 400 19.00 7,600 August 21 6th purchase 300 21.00 6,300 7th purchase 500 10,875 21.75 September 27 4,000 $72,400 Use the following Information for the specific Identification method. There are 900 units of Inventory on hand on September 30, 20-2. Of these 900 units: 1st purchase 50 are from October 18, 20-1 3rd purchase 300 are from January 12, 20-2 4th purchase 100 are from March 17 5th purchase 200 are from June 2 6th purchase 50 are from…Dashboard CengageNOWv2 | Onlin X+ 2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=D&inprogress3false Calculator R. & K. Company's beginning inventory and purchases during the fiscal year ended December 31, 20--, were as follows: Units Unit Price Total Cost Jan. 1 Beginning inventory 20 $12 $240 Apr. 2 1st Purchase 30 $13 390 Aug. 6 2nd pPurchase 25 $14 350 Nov. 9 3rd pPurchase 25 $18 450 $1,430 There are 20 units of inventory on hand at December 31, 20--. 1. Calculate the tota! amount to be assigned to the ending inventory under each of the following methods: a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) 2. Assume the market price per unit (cost to replace) of the R. &. K. Company's inventory on December 31, was $16. Calculate the total amount to be assigned to the ending inventory on December 31, under each of the following methods: a. FIFO lower-of-cost-or-market b. Weighted-average lower-of-cost-or-market All work…Massive Company provided the following information for the current year: Unit cost Total cost Units January 1 Inventory on hand Аpri October 1 Purchase 200 300 500 1,500 1,750 2,000 300,000 525,000 1,000,000 3 Purchase The entity sold 400 units on June 25 and 400 on December 10. What is the weighted average cost of the inventory at year-end? а. 350,000 b. 400,000 c. 730,000 d. 365,000