Inventory Costing: Weighted Average Filimonov Inc. has the following information related to purchases and sales of one of its inventory items. Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory 200 units @ $10 = $2,000   9 Purchase 1 300 units @ $12 = $3,600   14 Sale 1   400 units @ $25 22 Purchase 2 250 units @ $14 = $3,500   29 Sale 2   225 units @ $25   The company uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the weighted average method.

godo subject-Accounting-

urrent ALLE empt mFIogress Flint Corporation uses a perpetual inventory system reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $6 $720 12 Purchases 360 2,520 23 Purchases 240 1,920 30 Inventory 250 I Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 420 units occurred on June 15 for a selling price of $9 and a sale of 50 units on June 27 for $10. (Round answers to 3 decimal places, e.g. 5.125.) June 1 %24 June 12 $ June 15 $ 7:59 acer 7.

Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Acquired at Cost 100 units@ $56.00 per unit 400 units@ $61.00 per unit Date Activities Units Sold at Retail 1 Beginning inventory 5 Purchase 9 Sales Mar. Mar. Mar. 420 units @ $91.00 per unit 120 units @ $66.00 per unit 200 units @ $68.00 per unit Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 160 units @ $101.00 per unit Totals 820 units 580 units 2. Compute the number of units in ending inventory. Ending inventory units

Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail March 1 March 5 Beginning inventory Purchase 250 units @ $54.00 per unit 300 units March 9 Sales March 18 Purchase March 25 Purchase 160 units 300 units @ $59.00 per unit $64.00 per unit 410 units @ $89.00 per unit @ $66.00 per unit March 29 Sales Totals 280 units $99.00 per unit 1,010 units 690 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 140 units from beginning inventory, 270 units from the March 5 purchase, 120 units from the March 18 purchase, and 160 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Gross Margin FIFO LIFO…

Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Perpetual FIFO |Perpetual LIFO Units Acquired at Cost 60 units @ $50.20 per unit 205 units @ $55.20 per unit Weighted Average 65 units 110 units Specific Id 440 units Complete this question by entering your answers in the tabs below. @ $60.20 per unit @ $62.20 per unit 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 45 units from beginning inventory, 175 units from the March 5 purchase, 25 units from the March 18 purchase, and 65 units from the March 25 purchase. Units Sold at Retail 220 units @ $85.20 per unit…

Sd

Inventory Costing: LIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Units Sold at Retail Date Description Units Purchased at Cost June 1 9 14 22 29 Beginning inventory 150 units @ $13 = $1,950 Purchase 1 Sale 1 Purchase 2 Sale 2 300 units @ $17= $5,100 260 units @ $19 = $4,940 310 units @ $25 250 units @ $25 Refer to the information for Filimonov Inc. and assume that the company uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold $ Cost of ending inventory $

LIFO During the year, TRC Corporation has the following inventory transactions. Unit Cost $ 52 54 57 58 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Total Beginning Inventory Purchases: 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Apr 07 Jul 16 Oct 06 For the entire year, the company sells 450 units of inventory for $70 each. Sales revenue Gross profit Cost of Goods Available for Sale Cost of Goods Available for Sale $ # of units 0 Number of Units 60 140 210 120 530 Cost per unit 69 $ 0 0 0 0 0 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 # of units Cost of Goods Sold Cost per unit Cost of Goods Sold Ending Inventory # of units Cost Ending per unit Inventory