A company uses the periodic inventory system and had the following activity during the current monthly period.         November 1: Beginning inventory 100 units @ $20 November 5: Purchased 100 units @ $22 November 8: Purchased 50 units @ $23 November 16: Sold 200 units @ $45 November 19: Purchased 50 units @ $25   Using the weighted-average inventory method, the company's ending inventory would be:   Multiple Choice   $2,000   $2,250   $2,400   $2,200   $4,400

Sales during the year were 700 units. Beginning Inventory was 400 units at a cost of $10 per unit. Purchase 1 was 500 units at $12 per unit. Purchase 2 was 300 units at $14 per unit. Required: a. Assume the periodic inventory system is used. Calculate cost of goods sold and ending Inventory using FIFO method. (Enter all values as a positive value.) Periodic FIFO Beg. Inventory Purchases: Purchase 1 Purchase 2 Total Periodic LIFO Beg. Inventory Purchases: Purchase 1 Purchase 2 Cost of Goods Available for Sale Cost of Goods Available for Sale Total # of units Cost per unit Cost of Goods Available for Sale Cost of Goods Available for Sale # of units b. Assume the periodic Inventory system is used. Calculate cost of goods sold and ending Inventory using LIFO method. (Enter all values as a positive value.) Cost of Goods Sold Cost per unit Cost per unit # of units sold Cost of Goods Sold Cost of Goods Sold Cost per unit # of units sold Inventory Balance Cost per unit Cost of Goods Sold # of…

The following units of a particular item were availlable for sale during the calendar year: Jan. 1 Inventory 4,100 units at $39 Apr. 19 Sale 2,300 units June 30 Purchase 4,500 units at $43 Sept. 2 Sale 5,200 units Nav. 15 Purchase 2,100 units at $46 The firm maintains a perpetual inventory system. Determine the cost of goods ssold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method Cost of Goods Sold Inventory Purchases Quantity Total Cos Quantity Unit Cost Total Cost Unit Cost Unit Cost Total Cost Quantity Date Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances

The following units of an inventory item were available for sale during the year: Beginning inventory 9 units at $52 First purchase 19 units at $54 Second purchase 26 units at $55 Third purchase 13 units at $57 The firm uses the periodic inventory system. During the year, 22 units of the item were sold. The value of ending inventory rounded to the nearest dollar using average cost is (Round average cost per unit to three decimal places.) a. $1,170 b. $1,144 Oc. $2,462 Od. $1,236