Assume that we use a perpetual inventory system and that five identical units are purchased at the following dates and costs: April 5 April 10 $ 10 $ 12 April 15 $14 $ 16 April 20 April 22 $ 17 One unit is sold on April 25. The company uses the last-in, first-out (LIFO) inventory costing method. Identify the cost of the ending inventory on the balance sheet.

Atlas Company uses the perpetual inventory costing system. The company has provided the following data for the current period: Units Total $ 800.00 $1,540.00 $ 960.00 $6,000.00 Date Transaction 1-Nov Beginning balance 4-Nov Purchases 40.00 70.00 40.00 6-Nov Purchases 7-Nov Sales 100.00 Calculate the total purchases for the period given per FIFO $20.00 $22.00 $24.00 $60.00

Fill in the table. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.

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Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July. July 1 July 5 Units Unit Cost Beginning Inventory 2,700 $ 47 Sold 1,350 July 13 Purchased 6,700 51 July 17 Sold 3,700 July 25 July 27 Purchased Sold 8,700 57 5,700 Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with (a) FIFO and (b) LIFO. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with FIFO. Beginning Inventory Purchases July 13 FIFO (Perpetual) Units Cost per Unit Total $ 0 July 25 Total Purchases Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units…

Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 600 units-200 from each of the last three purchases. January 1 March 7 July 28 October 3 December 19 Beginning inventory Purchase Purchase Purchase Purchase Totals Req A to D Complete this question by entering your answers in the tabs below. (a-d) Determine the cost assigned to ending inventory and to cost of goods sold for the following. (e) Which method yields the highest net income? Req E 300 units @ $6.00 640 units @ $6.25 1,280 units @ $6.50 1,160 units @ $6.80 720 units @ $8.90 4,100 units (a) Specific identification (b) Weighted average (c) FIFO (d) LIFO Ending Inventory Determine the cost assigned to ending inventory and to cost of goods sold for the following. Note: Do not round intermediate calculations and round your answers to 2 decimal places. || || || || || Cost of Goods Sold

Haynes Company uses the perpetual inventory system. The following information is available for the month of March. March 1 Beginning Inventory 10 units at $2 for $20, March 4 Sold 8 units, March 22 Purchased 50 units at $4 for $200, March 26 Sold 48 units. If Haynes Company uses the LIFO inventory costing method, what is the Cost of Goods Sold for March?   A. $212 B. $208 C. $204 D. $560

Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the accounting period, January 31. The inventory's selling price is $14 per unit. Transactions Unit Cost Inventory, January 1 $ 5.00 Units 190 Total Cost $ 950 Sale, January 10 (140) Purchase, January 12 5.50 240 1,320 Sale, January 17 (100) Purchase, January 26 6.50 70 455 Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the following inventory costing methods: a. Weighted average cost. b. First-in, first-out. c. Last-in, first-out. d. Specific identification, assuming that the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase. 2-a. Of the four methods, which will…

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Trini Company had the following transactions for the month. Calculate the ending inventory dollar value for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. first-in, first-out (FIFO) last-in, first-out (LIFO) weighted average (AVG)