Hopkins Company reported the following information related to inventory and sales: Units Unit Cost Beginning inventory 2,200 $20 Purchase Number 18, 200 22 Purchase Number 23, 200 23 Sale -10,400 units at $35 per unit. Required: Compute the following amounts: sales revenue, cost of goods sold, gross prodit, and balance sheet invenetory for avereage costing method, fifo, and lifo

Required information Skip to question [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 44 $ 10 July 13 Purchase 220 12 July 25 Sold (100) $ 16 July 31 Ending Inventory 164 Required: a. Calculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used.

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Calculate the cost of goods available for sale for Atlantis Company, in units and in dollar amounts, given the following facts about their inventory for the period:     # of units Cost per unit Beginning Inventory 140 $75 Purchased Goods during the period 240 $77 Sold goods during the period 80 $125 Purchased goods during the period 220 $80 Possible item names to complete the table below: Sales Goods Available for Sale Ending Inventory Purchases Beginning Inventory Cost of Goods Sold PLEASE NOTE: You will enter the item names exactly as written above, the units will be just the number, and all dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345). Items Units Dollar Amount

Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).                                Number of units           Unit cost                      Unit sales Beginning invengtory   240                          $100 Sold                               160                                                                 $140 Purchased                      520                          $103 Sold                                400                                                                 $142 Purchased                       400                          $110 Sold                                 370                                                                  $144 Ending inventory             230

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling Units Unit Cost Price $ 10 July 1 July 13 July 25 Beginning Inventory 41 Purchase 205 12 Sold (100) $ 16 July 31 Ending Inventory 146 Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Cost per FIFO (Periodic). Units Total Unit Beginning Inventory Purchases מ 4 . ו. .!

A business using the retail method of inventory costing determines that merchandise inventory at retail is $396,400. If the ratio of cost to retail price is 61%, what is the amount of inventory to be reported on the financial statements?

There are such data of the ABC Company’s activity. The company uses perpetual inventory updating.    Number of Units Unit Cost, $ Sales prise, $ Beginning inventory 900 60   Purchased 700 65       Sold 1 900   100     Sold 2 200   120 Ending inventory       Find ending inventory and its cost Calculate the cost of goods sold in units and in dollar value for Company ABC for the month. Provide calculations for first-in, first-out (FIFO) method. Find Gross margin for the 1-st and 2-d sells

In chronological order, the inventory, purchases, and sales of a single product for a recent month are as follows (see attached). 1.Using the periodic inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the average-cost, FIFO, and LIFO inventory costing methods. (Round unit costs to cents and totals to dollar.) 2.Explain the differences in gross margin produced by the three methods.

Show the effects of the labor and MOH costs through T-accounts for the company's inventory and Cost of Sales accounts. (For balances beginning/ending in O select "Beg. Bal." and "End Bal." for the date and O for the amounts for the balance of the account.) WIP Inventory FG Inventory ✓