Crane Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available.     Units   Unit Cost   Total Cost April 1 inventory   220   $11     $ 2,420   April 15 purchase   450   13     5,850   April 23 purchase   330   14     4,620       1,000         $12,890   Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory     Cost of goods sold

The following data has been provided by Lee Company regarding its inventory purchases and sales throughout the year. Transaction Units Cost per Unit January 1 Balance 185 $86 March 14 Sale 54 May 23 Purchase 136 90 August 21 Sale 100 November 5 Purchase 171 91 November 18 Sale 100 November 30 Sale 100 December 5 Sale 100 December 10 Purchase 25 95 Required: Compute the cost of goods sold and ending inventory using the perpetual inventory system for the LIFO cost flow assumption. Ending inventory Cost of goods sold

The Luann Company uses the periodic inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ 10 Purchased $9 per unit 50 units @ $11 per unit 15 Sold 60 units 26 Purchased 25 units @ $13 per unit Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Note: Round your cost per unit to three decimal places, if needed. Then round your final answers to the nearest dollar. A. First-in, First-out: Ending Inventory Cost of Goods Sold: B. Last-in, first-out: Ending Inventory Cost of Goods Sold: C. Weighted-average cost: Ending Inventory Cost of Goods Sold

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 Inventory, January 1 Unit Cost Units Total Cost $ 5.00 190 $ 950 Sale, January 10 (140) Purchase, January 12 5.50 Sale, January 17 Purchase, January 26 6.50 240 (100) 70 1,320 455 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…

Whispering Winds Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 105 $2.80 Purchases: September 8 440 3.45 September 18 300 3.90 A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Ending inventory   $   Cost of goods sold   $

The following information was available from the inventory records of Jun Company for January: Unit Cost Total Cost $9.77 $87,930 Units Balance at January 19,000 Purchases: Sales: January 6 January 26 6,000 8,100 January 7 January 31 10.30 10.71 61,800 86,751 (7,500) (11,100) Balance at January 31 4,500 Assuming that Jun maintains perpetual inventory records, what should be the cost of goods sold during January, using the average inventory method, rounded to the nearest dollar? Group of answer choices $192,516. $190,413. $189,861. $188,286.

Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 330 $22 $ 7,260 April 15 purchase 380 26 9,880 April 23 purchase 290 29 8,410 1,000 $25,550 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory Cost of goods sold %24 %24

Waterway Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. April 1 inventory April 15 purchase April 23 purchase (a) Units Unit Cost 260 360 380 1,000 $29 Weighted average cost per unit 35 38 Total Cost $ $7,540 12,600 Calculate weighted average cost per unit. (Round answer to 2 decimal places, eg. 2.76) 14,440 $34,580

WHAT IS THE DOLLAR AMOUNT ( FIFO & LIFO)  FOR THE " ENDING INVENTORY AT MAY 31" AND " COST OF GOODS SOLD " ?

Aztec Corporation uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of September: Cost Retail Beginning inventory $ 29,000 $ 46,000 Net purchases 14,500 ? question mark Net markups 10,700 Net markdowns 2,700 Net sales ? question mark The company used the average cost flow method and estimated inventory at the end of September to be $24,998.00. If the company had used the LIFO cost flow method, the cost-to- retail percentage would have been 50%. Required: Compute net purchases at retail and net sales for the month of September using the information provided.