April Inc. maintains a perpetual inventory system and recorded the following information for the month of January. Date Units Unit Cost Inventory, January 1 950 $10.50 Purchase, January 10 400 12.00 Purchase, January 20 200 13.25 600 14,00 Purchase, January 28 Sale, January 5 500 Sale, January 13 200 Sale, January 31 320 Inventory, January 31 1130 Compute ending inventory and cost of goods sold for the month ending January 31 using the (1) Moving average method, (2) FIFO method, (3) and the LIFO method. Moving average FIFO LIFO (1) Moving average method •Note: Enter the answers for unit cost in dollars and cents, rounded to the nearest penny. Use the rounded amounts for later calculations. •Note: Do not use negative signs with any of your answers. Date January 1 January 5 January 10 January 13 January 20 January 28 January 31 Units Moving Average Ending Inventory Cost of goods sold $ 0$ 0 Purchases Unit Cost 0 0 0 0 $ 0$ 0$ Total Cost 0 0 0 Moving-average method Cost of Sales Units 0 $ 0$ 0 $ Unit Cost 0$ 0$ 0$ Total Cost 0 0 0 Units 950 0$ 0 $ 0 $ 0$ 0$ 0 $ Inventory Balance Unit Cost $10.50 0$ 0$ 0$ 0$ 0$ 0$ Total Cost $9,975 0 0 0 0 0 0

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?

Alrcard Corporation tracks the number of units purchased and sold throughout each accounting perlod but applies its Inventory costing method at the end of each perlod as if it uses a perlodic Inventory system. The following are the transactions for the month of July. Units 2,800 1,000 6,000 3,eee 8,e00 Unit Cost July 1 July 5 July 13 July 17 July 25 July 27 Beginning Inventory Sold $ 25 Purchased 29 Sold Purchased 31 Sold 5,eee Calculate the cost of goods available for sale, ending Inventory, and cost of goods sold if Aircard uses (a) FIFO. (b) LIFO. or (c) welghted average cost. (Round "Cost per Unit" to 2 decimal places.) Weighted Average Cost FIFO LIFO Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold

company's inventory records show the following data for the month of July. Date July 1 July 5 July 10 July 20 July 25 July 1 Date Activities Beginning inventory Purchase Sale Purchase Sale July 5 Average cost July 5 July 10 July 20 200 units @ $50 If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? Average cost July 20 July 25 Total July 25 Goods purchased Number of Cost per units unit 50 at $ 75.00 Units Acquired at Cost Units Sold at Retail 100 units @ $72 = $7,200 50 units @ $75 = $3,750 225 at $ 77.00 225 units @ $77 = $17,325 Number of units sold Cost of Goods Sold Cost per Cost of Goods Sold unit 75 at $ 50.00 = 200 at $ 50.00 $ 75 units @ $50 $ $ 3,750.00 10,000.00 10,000.00 Number of units 100 at Inventory Balance 100 at 50 at 150 at Cost per unit Inventory Balance 7,200.00 7,200.00 3,750.00 10,950.00 $ 175 at $ $ $ 75 at 150 at 225 at $ 375 at $ 50.00 = $ +73.00 = 77.00 = 75.40 75.00 = 55 72.00 = $…

The units of an item available for sale during the year were as follows: Jan 1 Inventory 15 units at 122 April 15 Purchase 140 units at 116 September 9 Purchase 26 units at 122      There are 31 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the last-in, first-out (LIFO)

Cullumber Company uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 106 $4 $424 12 Purchase 424 6 2,544 23 Purchase 265 8 2,120 30 Inventory 245 (a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (For calculation purposes, round average cost per unit to 2 decimal places, e.g. 5.25. Round answers to O decimal places, e.g. 125.) Cost of the ending inventory $ Cost of goods sold $ eTextbook and Media FIFO LIFO Average-Cost $ $ $ $ Assistance Used

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Stellar Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts (a) $161,900 697,000 31,400 924,000 73,200 12.100 Compute the estimated inventory at May 31, assuming that the gross profit is 25% of sales. The estimated inventory at May 31 $

21.  Williams Co. uses a periodic inventory system. The following are inventory transactions for the month of March:        3/1 Beginning Inventory 5,000 units at $2 3/7 Purchase 2,500 units at $3 3/16 Purchase 2,500 units at $4 3/26 Sales at $8 per unit 7,500 units    Williams uses the weighted average method to determine the value of its inventory. What amount should Williams report as cost of goods sold on the income statement for the month of January?

Cullumber Company uses a periodic inventory system. Its records show the following for the month of April, with 25 units on hand at April 30: Units Unit Cost Total Cost April 1 Inventory 30 $8 $240 12 Purchases 45 10 450 16 Purchases 17 11 187 Total 92 $877 (a) Calculate the ending inventory and cost of goods sold at April 30 using the FIFO and weighted average cost formulas. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275. )