Inventory records for Marvin Company revealed the following:   Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory   980   $ 7.24   Mar. 10 Purchase   600     7.70   Mar. 16 Purchase   780     8.12   Mar. 23 Purchase   600     8.52     Marvin sold 2,000 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)   Multiple Choice   $15,576.   $17,040.   $16,210.   $15,126.

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Which assets depreciate?

The inventory data for an item for November are: Nov. 1   Inventory 24 units at $21 4   Sold 11 units 10   Purchased 27 units at $20 17   Sold 23 units 30   Purchased 25 units at $23 Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? a.$691 b.$704 c.$915 d.$964

Calculate the average unit cost for the inventory table shown below. Units Cost per Total purchased 43 22 18 26 Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory 109 81 28 unit $840 $1,750 cost $36,120 $38,500 (Round to the nearest cent as needed.) Retail price per unit $975 $2,105 $975 $17,550 $1,996 $470 $12,220 $590 $104,390 Total retail value $41,925 $46,310 $35,928 $15,340 $139,503 ***

Inventory data for crane company are reported as follows. Date explanation Units Unit Cost Total Cost June 1 inventory 150 $4 $600 12 purchase 450 5 2250 23 purchase 400 6 2400 30 inventory 80     Assume a sale of 500 units occurred on June 15 for a selling price of $7 and a sale of 420 units on June 27 for $9.

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Rakesh

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Assume Ava Co has the following purchases of inventory during the first month of operations   Number of Units Cost per unit First Purchase 332 3.5 Second Purchase 205 4.5   Assuming Ava sells 335 units at $11 each, what is the value of their ending inventory  if they use LIFO?