Inventory Costing Methods and the Periodic Method Lambeth Company experienced the fol- lowing events in January: Date Event Units Unit Cost Total Cost Jan. 10 Jan. 20 Jan. 30 Purchased inventory. Purchased inventory. Sold inventory. . 100 $12 $1,200 200 14 2,800 150 If the Lambeth Company uses the FIFO inventory costing method, calculate the company's cost of goods sold and its ending inventory as of January 31 assuming the periodic method.

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Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Beginning Inventory Purchase Total Cost $ 2,184 3,192 Purchase 4,928 Purchase 5,734 $ 16,038 January 1 March 28 August 22 October 14 Goods Available for Sale Units 28 38 56 61 183 The company sold 61 units on May 1 and 56 units on October 28. a. FIFO b. LIFO c. Weighted Average Unit Cost $78 84 88 94 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods

Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 50 units at $126 Mar. 10 Purchase 40 units at $136 Aug. 30 Purchase 30 units at $140 Dec. 12 Purchase 80 units at $142 There are 40 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar.   Cost of Ending Inventory and Cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First-in, first-out (FIFO) $ $ Last-in, first-out (LIFO)     Weighted Average Cost

company's inventory records show the following data for the month of July. Date July 1 July 5 July 10 July 20 July 25 July 1 Date Activities Beginning inventory Purchase Sale Purchase Sale July 5 Average cost July 5 July 10 July 20 200 units @ $50 If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? Average cost July 20 July 25 Total July 25 Goods purchased Number of Cost per units unit 50 at $ 75.00 Units Acquired at Cost Units Sold at Retail 100 units @ $72 = $7,200 50 units @ $75 = $3,750 225 at $ 77.00 225 units @ $77 = $17,325 Number of units sold Cost of Goods Sold Cost per Cost of Goods Sold unit 75 at $ 50.00 = 200 at $ 50.00 $ 75 units @ $50 $ $ 3,750.00 10,000.00 10,000.00 Number of units 100 at Inventory Balance 100 at 50 at 150 at Cost per unit Inventory Balance 7,200.00 7,200.00 3,750.00 10,950.00 $ 175 at $ $ $ 75 at 150 at 225 at $ 375 at $ 50.00 = $ +73.00 = 77.00 = 75.40 75.00 = 55 72.00 = $…

Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO.

Inventory Costing Methods and the Perpetual MethodKay & Company experienced the following events in March: Date Event Units   Unit Cost Total Cost Mar. 1 Purchased inventory 100 @ $16 $1,600 Mar. 3 Sold inventory 60       Mar. 15 Purchased inventory 100 @ 18 $1,800 Mar. 20 Sold inventory 40       Assume the perpetual inventory system is used. Use the weighted-average inventory costing method to calculate the company’s cost of goods sold and ending inventory as of March 31.   Round weighted-average cost per unit to two decimal places.  Use rounded answer for subsequent calculations. Round all other answers to the nearest dollar. March 3 Cost of goods sold Answer   March 20 Weighted-average cost per unit Answer   Cost of goods sold Answer   March 31 Total cost of goods sold Answer   Ending inventory Answer

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Compute the amount of goods available for sale, ending inventory and cost of good sold at January 31 under each of the following inventory cost methods A. Weighted cost average 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 Thank you in advance !

What is the per unit value of ending inventory on August 31?  Answers should be rounded to the nearest cent. Multiple Choice A) $18.00 B)$17.42 C)$19.63 D)$14.00 E)$15.80