FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- 5-Al Shahba has net sales are RO 57500 and gross profit rate is 45% of net sales, then estimated cost of goods sold will be a. RO 28750 b. RO 25875 c. RO 31625 d. RO 23000arrow_forwardIf beginning inventory is $10,000, purchases are $90,000 and ending inventory is $30,000, what is cost of goods sold? Group of answer choices $60,000 $100,000 $130,000 $70,000arrow_forwardCarrow_forward
- A2 please help.....arrow_forwardNonearrow_forwardWhat is the weighted average unit cost using the following information? Beginning Inventory 11/1: 1,000 units at $25 per unit Purchase 11/10: 2,500 units at $30 per unit Purchase 11/15: 1,500 units at $20 per unit Sold 11/25: 2,500 units for $50 each $25.00 $26.00 $30.00 $36.00arrow_forward
- 20. Company sold inventory fo $300,000 terms 2/10, n/30. Cost of goods sold was $152,000, How much sales revenue will they report form the sale assuming the company records the net amount?arrow_forwardQ: If the cost of an item of inventory is $52.00 and the current replacement cost is $68.00, what is the amount included in inventory according to the lower of cost or market? a. $120.00 b. $52.00 c. $16.00 d. $68.00arrow_forwardGiven the following: Numberpurchased Costper unit Total January 1 inventory 32 $ 4 $ 128 April 1 52 6 312 June 1 42 7 294 November 1 47 8 376 173 $ 1,110 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 53 units). b. Calculate the cost of goods sold using the FIFO (ending inventory shows 53 units).arrow_forward
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