Beginning inventory, purchases, and sales for an inventory item are as follows: Sept. 1 Beginning Inventory 25 units @ $13 5 Sale 12 units 17 Purchase 30 Sale 24 units 19 units @ $15 Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30. a. Cost of merchandise sold b. Inventory, September 30

Beginning inventory, purchases, and sales for an inventory item are as follows: Sept. 1 Beginning inventory 21 units @ $21 5 Sale 12 units 17 22 units 30 Sale 24 units Assuming a perpetual inventory system and the first-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30. a. Cost of merchandise sold b. Inventory, September 30 Purchase @ $22

Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 86 units @ $21 8 69 units 15 95 units @ $23 27 80 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and (b) the inventory on July 31. a. Cost of goods sold on July 27 b. Inventory on July 31 Inventory Sale Purchase Sale

Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory Oct. 7 Sale 72 units @ $19 51 units Oct. 15 Purchase 61 units @ $22 29 units Oct. 24 Sale Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31

FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: DATA Beginning inventory Sale First purchase Sale Second purchase Sale Ending inventory Quantity 8,100 5,000 15,400 12,600 15,900 13,100 8,700 REQUIRED: a. What is the total cost of the ending inventory according to FIFO? b. What is the total cost of the ending inventory according to LIFO? a. FIFO method b. LIFO method Price Inventory Cost Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green cells orange cells. Transfer amounts to CNOWv2 for grading. $160 $300 $167 Formulas $300 $172 $300

Beginning inventory, purchases, and sales for Item MMM8 are as follows: November 1 Inventory 102 16 9 Sale 89   16 Purchase 128 0 25 Sale 83   Assuming a perpetual inventory system and using the Last-in, first-out (FIFO) method, determine the inventory value on November 30.

Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 24 units @ $10 5 Sale 17 units     17 Purchase 10 units @ $15 30 Sale 8 units   Assuming a perpetual inventory system and the last-in, first-out method: a.  Determine the cost of the goods sold for the September 30 sale.$fill in the blank 1

Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 50 units @ $102 Mar. 10 Purchase 50 units @ $112 Aug. 30 Purchase 30 units @ $120 Dec. 12 Purchase 70 units @ $126 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar.   Cost of Merchandise Inventory and Cost of Merchandise Sold Inventory Method Merchandise Inventory Merchandise Sold a. First-in, first-out (FIFO) $fill in the blank 1 $fill in the blank 2 b. Last-in, first-out (LIFO) fill in the blank 3 fill in the blank 4 c. Weighted average cost fill in the blank 5 fill in the blank 6

Beginning inventory, purchases, and sales for Item FK7 are as follows: Sep 1     inventory     115 units at $225       10     sales           100 units       18     purchase     110    units at $260       27     sales            105 units   Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on September 27 and (b) the inventory on September 30.

Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 5 Sale 17 Purchase 30 Sale 32 units 0 19 units 35 units @ $26 35 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. b. Determine the inventory on September 30.