an. 1 Inventory 7 units at $25 $175 ug. 7 Purchase 20 units at $27 540 Dес. 11 Purchase 10 units at $29 290 37 $1.005

Which assets depreciate?

ces aw 11 Given the following: F1 January 1 inventory April 1 June 1 November 1 Cost of ending inventory 5_1442....jpg Cost of goods sold a. Calculate the cost of ending inventory using the LIFO (ending inventory shows 68 units). (@ F2 Number purchased 47 67 57 62 233 #3 b. Calculate the cost of goods sold using the LIFO (ending inventory shows 68 units). 80 F3 Cost per unit $5 8 $ 4 10 900 000 F4 15 Total $ % 235 536 513 620 $1,904 FS 4 8

Question 1 Inventory 1. A. Raytheon inventory information is as follows: o Beginning inventory (1/1/19): 200 units @ $1.00 o Purchase of inventory (1/14/19): 400 units @ $4.00 o Sale of inventory: 1/15/19: 300 units 1/16/19: 250 units o Total Sales Revenue = $2,250 Q1. Using the information above, compute COGS, Ending Inventory and Gross Profit under FIFO, LIFO, and Weighted average:

QUESTION 9 If merchandise sells for $3,500, with terms of 3/15, n/45 and the cost of the inventory sold is $2,100, the amount charged to sales is a. $3,500 b. $3,395 c. $2,100 d. $2,037

✔Total cost of goods sold, $791,600 SHOW ME HOW EX 6-8 Weighted average cost flow method under perpetual inventory system Obj. 3 The following units of a particular item were available for sale during the calendar year: Jan. 1 Mar. 18 May 2 Aug. 9 Oct. 20 Inventory Sale Purchase Sale Purchase 9,000 units at $50.00 7,000 units 8,000 units at $56.50 8,000 units 4,000 units at $60.00 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5.

Problem 1 - Inventory Methods Magic Jelly Beans Company Operating information              Sales Price per case  $      150.00           Unit   Unit   Extended      Quantity   $   Price         Cost   $$$                 Beginning Inventory             2,000    $           90.00    $       180,000.00               Purchased  Units             7,000    $         110.00    $       770,000.00 Sold 2,000                      Sold 4,000                      Purchased  Units          10,000    $         130.00    $   1,300,000.00 Purchased  Units             4,000    $         135.00    $       540,000.00 Sold 6,000                      Sold                                    Units 5,000                                    Fixed Selling General and Administrative costs      $   75,000.00 Income Tax rate 35%         Requirement:  Calculate the Cost Flow assumptions for Revenue, Cost of Goods Sold, SGA  Income Tax, Net Income and Ending Inventory…

5

BI 420 $200 Sold 150                    $401 Pur. 250 $205 Sold 275                    $421 Pur. 200 $215 Sold 260                    $441 EI 185 PB10.  LO 10.3Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for Weighted Average.

Question 8