11. Shirley's Bridal Shop's inventory records for short bridal veils show this informa-tion. At the end of the month, 15 veils were on hand. Find the value of the ending inventory using the average-cost method. (Lesson 7) a) the average cost per unit b) the value of the inventory using the average cost method. Units Received Unit Cost Total Cost Date July 3 36 $45.62 July 15 21 48.99 July 30 75 36.50 TOTAL

11. Shirley's Bridal Shop's inventory records for short bridal veils show this informa-tion. At the end of the month, 15 veils were on hand. Find the value of the ending inventory using the average-cost method. (Lesson 7) a) the average cost per unit b) the value of the inventory using the average cost method. Units Received Unit Cost Total Cost Date July 3 36 $45.62 July 15 21 48.99 July 30 75 36.50 TOTAL

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Description: 11. Shirley's Bridal Shop's inventory records for short bridal veils show this informa-tion. Atthe end of the month, 15 veils were on hand. Find the value of the ending inventory usingthe average-cost method. (Lesson 7)a) the average cost per unitb)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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12. Records for Maxine's Beauty Supply show this opening balance and these units received for nail polish in December. At the end of the month, 12 bottles were on hand. a) the average cost per unit b) the value of the inventory using the average cost method. Date Units Received Unit Cost Total Cost Dec. 3 43 $1.49 Dec. 10 | 267 1.43 Dec. 20 200 1.44 ТOTAL
I→ 3 Tremblay Company began June with 45 units of inventory that cost a total of $900. During June, Tremblay purchased and sold goods as follows: (Click the icon to view the transactions.) Calculate the gross margin amount using the weighted-average method. assuming Tremblay uses a periodic inventory system. Jave Before we can calculate gross margin, we must first determine the cost of goods sold, using the periodic method of costing inventory. Start by determining the formula, and then enter the amounts. (Round your answers to the nearest whole dollar.) Cost of goods available for sale Less: Cost of goods sold More info June 8 Purchase: 65 units at $14.00 June 14 June 22 Sale: 55 units at $32 Purchase: 48 units at $16.00 June 27 Sale: 65 units at $37.00 - X
Calculate the August cost of goods sold in the ending inventory at August 31 using, first in, first out,last in, first out, and the weighted average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar.
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Calculate cost of goods sold and ending inventory for Emergicare's bandages orders using FIFO, LIFO and average cost. There are 24 units in ending inventory. (Do not round your intermediate calculation and round your final answers to the nearest cent.) Date January 1 April 1 June 1 September 1 Total Units purchased Cost per unit 42 32 54 47 175 FIFO. Cost of Goods Sold. Ending Inven LIFO Average cost Total cost $ 6.20 6.20 5.20 6.20 $260.40 198.40 280.80 291.40 $ 1,031.00
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Question-based on, "using Weighted Average cost"... I have tried it but unable to get the correct answer. Any help would be appreciated.
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Bramble Company reports the following for the month of June. June 1 (a) 12 23 30 (b) Inventory 290 Purchase 400 Purchase Inventory Units Unit Cost $5 Cost of goods sold 300 130 Cost of the ending inventory Your answer has been saved. See score details after the due date. Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. Save for Later 6 $ 7 in Total Cost $1,450 2,400 2,100 FIFO 910 5040 Which costing method gives the higher ending inventory? 5 $ LIFO 650 5300 Attempts: 1 of 1 used Attempts: 0 of 1 used Submit Answer
Below is a statement of inventory for a candle shop, given on January 31. a) Calculate the lower of cost or net realizable value for the inventory, applied separately to each product, and by inventory group. Cost Product Red Sand Candles Red Votive Candles, Green Votive Candles, 10 Purple Sand Candles 13 Purple Unscented Candles 29 Totals Quantity 14 13 Date Date: General Journal Account/Explanation Per Unit 10.25 9.35 8.05 8.65 5.35 General Journal Account/Explanation Total for product Page GJ8 Debit Credit b) Prepare any required adjusting entry assuming LCNRV is applied to each item. Dates must be entered in the format dd/mmm (15/Jan). Leave the entry blank if no adjusting entry is required. Per Unit Page GJ8 9.45 9.80 7.65 8.20 6 F Debit Credit NRV Total for product c) Prepare any required adjusting entry assuming LCNRV is applied to the whole group. Dates must be entered in the format dd/mmm (15/Jan). Leave the entry blank if no adjusting entry is required. LCNRV applied to Group…
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 25 units @ $29 $725 June 16 Purchase 27 units @ $34 918 Nov. 28 Purchase 44 units @ $36 1,584 96 units $3,227 There are 10 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO method.$fill in the blank 1 b. Determine the inventory cost by the LIFO method.$fill in the blank 2 c. Determine the inventory cost by the average cost methods. Round answer to two decimal places.$fill in the blank 3
The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Apr. 21 July 25 Sept. 19 Purchased Purchased Purchased Purchased Required A During the year, The Shirt Shop sold 810 T-shirts for $20 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. 400 units 200 units 280 units 90 units Complete this question by entering your answers in the tabs below. Required B Ending inventory @ @ FIFO $8 = $3,200 $10 = 2,000 $13 = 3,640 $15 = 1,350 Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round intermediate calculations to 2 decimal places and final answers to nearest whole dollar…

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