A company had the following purchases and sales during the month of November: Units Acquired at Cost 5 units @ $20 = $100 10 units @ $22= $220 6 units @ $25 = $150 Date November 1 November 2 November 6 November 8 Activities Beginning inventory Purchase Purchase Sales Units Sold at Retail 8 units @ $55 Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?

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A company's inventory records report the following in November of the current year: Date November 1 Beginning inventory November 2 Purchase November 8 Sales November 12 Purchase Multiple Choice O O 6 units @ $55 = $330 Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? $554 Activities $398 $642 Units Acquired at Cost 5 units @ $50 = $250 10 units @ $52 = $520 Units Sold at Retail 12 units @ $84

Assume ShoeFanatic.com began March with 10 units of inventory that cost a total of $170. During March, ShoeFanatic.com purchased and sold goods as follows: EE (Click the icon to view the purchases and sales.) Under the FIFO inventory costing method and the perpetual inventory system, how much is ShoeFanatic.com's cost of goods sold for the sale on March 14? 'O A. $450 B. $900 OC. $440 O.D. $710

The units of an item available for sale during the year were as follows: Date Line Item Description Value Jan. 1   Inventory 2,900 units at $5 Feb. 17   Purchase 2,800 units at $7 Jul. 21   Purchase 3,200 units at $9 Nov. 23   Purchase 1,100 units at $11 There are 1,400 units of the item in the physical inventory at December 31. The periodic inventory system is used. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.     a. Determine the inventory cost by the first-in, first-out method.                                                                                    b. Determine the inventory cost by the last-in, first-out method.                                                                                         c. Determine the inventory cost by the weighted average cost method. Round your answer to the nearest dollar

The accounting records of Skysong Electronics show the following data. Beginning inventory 1.000 units at $5 Purchases 9,000 units at $7 9.500 units at $10 Sales (a) Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to O decimal places, e.g. 1,250.) Cost of goods sold during the period FIFO

A company's inventory records report the following in November of the current year: Beginning November 1 Purchase November 2 Purchase November 12 On November 8, it sold 12 units for $49 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? Multiple Choice O O O $342 $248 $264 $378 5 units @ $19 10 units @ $21 6 units @ $23 $443

Beginning inventory, purchases, and sales for Item HM46 are as follows: January 1   Inventory 37 units @ $22 9   Sale 31 units 13   Purchase 37 units @ $25 28   Sale 10 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 28 and (b) the inventory on January 31.

The following are the transactions for the month of July.       Units Unit Cost Unit Selling Price July 1 Beginning Inventory 55     $ 10         July 13 Purchase 275       11         July 25 Sold (100 )         $ 14   July 31 Ending Inventory 230                   Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. How would i creat a FIFO periodic table?

5. Gingerbread, Corp. presents the following information for inventory purchases and sales throughout the month of December. The company uses LIFO Perpetual Method for inventory.  DATE TRANSACTIONS UNITS UNIT COST December 1 Beginning inventory  1,000 $1.00 December 5 Sale 500   December 20 Purchase 1,000 $1.10 December 31 Sale 500   Cost of goods sold for the month of December is ?