Boxwood Company sells blankets for $31 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.  Date Blankets Units Cost May   3 Purchase 5  $14         10 Sale 4         17 Purchase 12    15         20 Sale 5         23 Sale 3         30 Purchase 12    19  Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the lifo  inventory cost method

ddison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sept. 1 Inventory 20 units at $20 4 Sale 10 units 10 Purchase 30 units at $25 17 Sale 20 units 30 Purchase 10 units at $30 Use the information for Addison, Inc. If Addison uses LIFO, the cost of the ending merchandise inventory on September 30 is

FAD Company uses a periodic inventory system and its inventory records for the period contain the following information: Beginning inventory (170 units @ $69/unit) $11,730 Purchases (245 units @ $69/unit) 16,905 Ending inventory (220 units @ $69/unit) 15,180 What is the amount of cost of goods available for sale?

Sarasota Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 33 $11 $363 May 15 Purchase 25 12 300 May 18 Sale (44) May 24 Purchase 39 13 Total 97 13 507 $1,170 (a) Your Answer Correct Answer (Used) Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold $ 495 Ending Inventory $ 675 (b) Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, eg. 15.235 in your calculations and round final answers to 2 decimal places, ea 5.25) Cost of goods sold $ Ending Inventory

The Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3 Purchase $20 10 Sale 3 17 Purchase 10 $24 20 Sale 6 23 Sale 3 30 Purchase 10 $30 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the LIFO inventory cost method. Oa. $364 Оb. s372 Oc. $320 Od. $324

Boxwood Company sells blankets for $35 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood use a perpetual inventory system.                                                                            May 3 Purchase 7units  $1810 Sale 4 units17 Purchase 11units $1520 Sale 423 sale 2units30 Purchase 9 units $19.                                                                                                                                                                                                              Determine the May 31 inventory balance using the FIFO inventory costing method

The Boxwood Company sells blankets for $36 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3     Purchase 11 $16 10     Sale 5   17     Purchase 11 $17 20     Sale 8   23     Sale 3   30     Purchase 9 $18 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method. a.$232 b.$216 c.$134 d.$130

The Boxwood Company sells blankets for $33 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3     Purchase 10 $18 10     Sale 4   17     Purchase 12 $16 20     Sale 4   23     Sale 2   30     Purchase 12 $22 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method. a.$64 b.$32 c.$72 d.$264

The Boxwood Company sells blankets for $31 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3     Purchase 9 $19 10     Sale 5   17     Purchase 14 $16 20     Sale 6   23     Sale 2   30     Purchase 10 $21 Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method. a.$605 b.$223 c.$382 d.$483

The Boxwood Company sells blankets for $36 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3 Purchase 10 $19 10 Sale 4 17 Purchase 15 $18 20 Sale 4 23 Sale 2 30 Purchase 12 $21 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method. Oa. $522 Ob. $486 Oc. $567 Od. $513