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

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: A periodic inventory system is a form of accounting stock valuation practice. In this system, the…

Q: Hamilton Company uses a periodic inventory system. At the end of the annual accounting period,…

A: Inventory valuation method includes: FIFO method LIFO method Weighted average cost method FIFO…

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: FIFO (First-in First Out): Under FIFO inventory accounting, units purchased first are the units to…

Q: 99) A company uses the periodic inventory system and had the following activity during the current…

A: Weighted Average Inventory MethodThe Weighted Average Inventory Method is an accounting cost flow…

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: Ending inventory is the amount of inventory in hand at the end of the period. It is the amount which…

Q: Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for…

A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…

Q: Emily Company uses a periodic inventory system. At the end of the annual accounting period, December…

A: Under the FIFO method, the oldest products in inventory are sold first.Under the LIFO method, the…

Q: Hansaben

A: Total $ of units available = (2000 x 5) + (5000 x 6) + (3000 x 8)= 10,000 + 30,000 + 24,000= 64,000…

Q: A company had the following purchases and sales during the month of November: Units Acquired at Cost…

A: LIFO stands for Last In First Out. Using LIFO perpetual inventory, the newer inventory is sold out…

Q: The following units of an inventory item were available for sale during the year: Unit Unit Cost…

A: The average cost per unit is computed as total cost of goods available for sale divided by number of…

Q: The following inventory data are available for the company: Transactions…

A: Under FIFO method, the ending inventory consists of the most recent inventory purchased. The first…

Q: Emily Company uses a periodic inventory system. At the end of the annual accounting period, December…

A: First-in First-Out Method - Under the First-in First-Out Method the company uses inventory in the…

Q: The units of an item available for sale during the year were as follows: Jan. 1   Inventory 1,090…

A: Total units available for sale = 1090+1410+1695+1145 = 5,340 units Total cost of goods available for…

Q: Given the following information, what journal entry does Lil Wayne's company make to COGS if they…

A: The inventory valuation method is used to calculate the cost of goods sold and ending inventory. It…

Q: a company has a beginning inventory of 32 units at a cost of 12.00 each on oct. 1. on October 5, it…

A: Inventory valuation refers to the technique that is used by businesses to identify the value of the…

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: Total units are 68  Out of which units sold are 50 given  Hence 18 are closing inventory  LIFO…

Q: The following units of an item were available for sale during the year: Beginning inventory 45…

A: a. Compute the total cost of the ending inventory according to FIFO.

Q: company reports the following beginning inventory and two purchases for the month of January. On…

A: Inventory valuation is based on the method of flow used by the organization. It can be the first in…

Q: Lee Ltd. has the following units and costs for the month of April. 1. Beginning inventory, April 1,…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: The following information is available for Motta Company: Beginning inventory 200 units at $8 First…

A: Formula: Average cost per unit = Total cost of goods available for sale / Total no. of units…

Q: Date June 1 12 23 30 Explanation Inventory Purchase Purchase. Inventory Units Unit Cost $5 140 360…

A: Sunland Company Use A Perpetual Inventory System And Report The Following For The Month Of June .…

Q: Sales during the year were 700 units. Beginning Inventory was 400 units at a cost of $10 per unit.…

A: FIFO method uses the inventory which is bought first for the production, but whereas the LIFO method…

Q: The following units of a particular item were availlable for sale during the calendar year: Jan. 1…

A: Last-in, first-out is the method of inventory valuation where the item that is purchased or…

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: CONCEPT Valuation of ending inventory using average cost method: The value of ending inventory is…

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: Solution:- Weighted average method of inventory is the method of inventory valuation in which…

Q: (a) FIFO (b) LIFO (c) Weighted average (d) Specific identification Help Save & Ex 4. Compute gross…

A:

Q: The DJ company uses a periodic inventory system. The beginning balance of inventory and purchases…

A: Introduction  Inventory may be defined as the stock of goods ready to be sold at a particular point…

Q: You have the following information for Van Gogh Inc. for the month ended October 31, 2025. Van Gogh…

A: Inventory includes all the items, goods, and merchandise in the warehouse of the company to sell in…

Q: ksk.1

A: The objective of this question is to calculate the cost of ending inventory using three different…

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: determine the cost of goods sold and compute the ending inventory as of Jan. 31 and make the journal…

A: LIFO inventory method is Last in first out which says that inventory purchased last will be sold…

Q: Haynes Company uses the perpetual inventory system. The following information is available for the…

A: Under the LIFO method, sales are made out of the latest purchases and therefore, the cost of goods…

Q: The units of an item available for sale during the year were as follows: Jan. 1 Inventory 1,095…

A: Workings: Total units: 1095+1385+1680+1125                 = 5285 units.

Q: Morgenstern Ltd. has the following units and costs for the month of April. Beginning inventory,…

A: FIFO means first in first out which means that inventory which is recieved first , will be sold…

Q: Mojo Industries tracks the number of units purchased and sold throughout each accounting period but…

A: Ending inventory is the amount of inventory that an entity has on hand, at the end of the period. It…

Q: Nittany Company uses a periodic inventory system. At the end of the annual accounting period,…

A: The inventory can be valued using various methods as FIFO, LIFO and average method.FIFO stands for…

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

A: clsoing inventory = opening inventory + purchase - sales

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

A: First-in, first-out (FIFO) is a type of inventory valuation method in which it is assumed that the…

Q: Co.'s purchases and sales of a particular product during the year are shown below: Jan. 1 Beginning…

A: LIFO cash flow assumption of inventory is Last in first out method which says that inventory which…

Q: Jane company uses a periodic inventory system. its records show the following information for the…

A: In the absence of any information, assumed FIFO method is used for valuation for inventory

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.