tlon 9- Ch 8 Den xdex.html?_con%3Dcon&external_browser%3D0&launchUrl3Dhttps%253A%252F%252Fblackboard.american.edu%2... ☆Bb Class Exampleemonstration Problems iLaunch Meeting-Zoc xCWIFI Landing PagAltira Corporation provides the following information related to its merchandise inventory during the month of August 2021:SavedHelpAug.1 Inventory on hand-2,000 units; cost $5.30 each.B Purchased 8,000 units for $5.50 cach.14 Sold 6,000 units for $12.00 each.18 Purchased 6,000 units for $5.60 cach.25 Sold 7,000 units for $11.00 each.28 Purchased 4,000 units for $5.80 each.31 Inventory on hand-7,000 units.Save & ExitSuRequired:Using calculations based on a periodic inventory system, determine the inventory balance Altira would report in its August 31, 2021,balance sheet and the cost of goods sold it would report in its August 2021 income statement using each of the following cost flowmethods.Complete this question by entering your answers in the tabs below.FIFOLIFOAverage CostAverage CostDetermine the inventory balance Altıra would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 incomestatement using the Average cost method. (Round cost per unit to 2 decimal places.)Ending Inventory-Average Cost# of unitsin endinginventoryCost of Goods Sold Average CostCost of Goods Availlable for SaleCost of GoodsAvailable forSale,UnitCost# of unitssoldAverageCost perUnitCost ofGoods SoldAverageCost perEndingInventoryAverage Costunit# of units,2,000$ 5.3010,600Beginning InventoryPurchases!44,0008,000$ 5.50August 833,6006,000$ 5.602$0.August 18August 2823,2007,0004,000S 5.80111.4006,00020,000Total%24%24

Name: tlon 9- Ch 8 Den xdex.html?_con%3Dcon&external_browser%3D0&launchUrl3
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Description: tlon 9- Ch 8 Den xdex.html?_con%3Dcon&external_browser%3D0&launchUrl3Dhttps%253A%252F%252Fblackboard.american.edu%2... ☆Bb Class Exampleemonstration Problems iLaunch Meeting-Zoc xCWIFI Landing PagAltira Corporation provides the following information

Inventory balance = $ 40,000 Cost of Goods sold= $ 71,400

Business

Accounting

252F%252Fblackboard.american Saved Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 units. Required: Using calculation

252F%252Fblackboard.american Saved Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 units. Required: Using calculation

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4PA: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering...

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tests.mettl.com/test-window/f55ac827#/testWindow/0/12/1 EY Accounting Assessment Total 00:55:09 Finish Test Section 1 of 1 Section #1 v 5 7 8. 10 11 12 13 14 15 13 of 45 All 2 43 Question # 13 G Revisit Choose the best option The following information is available for an entity for the quarter ended March 31, of the current year Merchandise inventory, as of January 1 of the current year 30,000, Sales 200,000, Purchases 190,000. The gross profit margin is normally 20% of sales What is the estimated cost of the merchandise inventory at March 31, of the current year? O 20,000 O 40,000 60,000 180,000 Next Queslion +91-82878-03040 Zaineh Support +1-650-924-9221 413 PM metil 1/16/2021
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laun OPI=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fportal%252Fframeset.jsp%253Ftab_tab dexternal_browser%3U From the following, prepare a classified balance sheet for Bach Crawlers as of December 31, 2020. Ending merchandise inventory was $5,300 for the year. Cash Prepaid rent Prepaid insurance Office equipment (net) $ 7,300 2,250 5,300 6,300 Accounts payable Salaries payable Note payable (long term) P. Bach, capital* $ 2,450 2,250 9,300 12,450 *What the owner supplies to the business. Replaces common stock and retained earnings section. BACH CRAWLERS Balance Sheet December 31, 2020 Assets Liabilities Current assets: Current liabilities: Total current assets Total current liabilities Long-term liabilities: Total liabilities Plant and equipment: Owner's Equity 回可可 acer