John had 150 units in inventory costing $5,700 on December 1st, 2020. During the month of December, John engaged in the following purchase transactions:   Transaction Date Units Total Costs Unit Selling Price Purchase Dec. 10, 2020 600      $24,000   Sales Dec. 18, 2020 450        $90 Purchase Dec. 22, 2020 200      $8,400   Sales Dec. 30, 2020 260        $90   Assume John uses the perpetual weighted average inventory pricing method. What is the weighted average unit price for the Cost of Goods Sold on the December 30th sale?

UMET's Stores had the following inventory transactions in 2020:                       Transaction             Units          Cost per unit 1/1                 Balance                    50                      $6 2/14               Sale                          25                        5/23              Purchase                  100                     8 8/21              Sale                           50                      11/5              Purchase                   25                     12 11/18            Sale                           95                        Required: Compute tge cost of goods sold and the ending inventory using the periodic inventory system for each of the following cost flow assumptions: a. FIFO b. LIFO c. Weighted average

During 2021, a company sells 280 units of inventory for $89 each. The company has the following inventory purchase transactions for 2021: Number of Units 69 169 189 Unit Cost $64 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Total Cost $ 4,416 10,985 12,663 $28,064 65 67 427 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory %24 147 Cost of goods sold

Liverpool Company uses a perpetual inventory system. The following table shows the beginning inventory, the purchases and sales of product X during the current year 2019: Date Description Unit Quantity (unit) Total Cost 13 Jan 10 Apr 21 Jul 18 Aug | 23 Oct 11 Nov Beginning inventory Purchases Purchases Sales Purchases Sales $6,000 $4,800 S12,000 60 S100 40 S120 100 S120 80 S110 S17,600 160 50 Required: (SHOW WORKINGS) Using First-In, First-Out (FIFO) method, calculate (i) and (ii): (i) Cost of Goods Sold for the year ended 31 December 2019. (ii) the cost of Ending Inventory as at 31 December 2019.

I need help calculating the ending inventory and cost of goods sold using the LIFO method (Please Show Calculations) Note: I also attached an example of what the LIFO chart should look like, please follow that example to answer this question. Jensen Company had the following transactions regarding their inventory,  They use a perpetual inventory system. Beginning Inventory: 100 units @ $6.00 per unit First Purchase:    100 units @ $7.00 per unit Sale:    150 units @ $15.00 per unit Second Purchase:    150 units @ $8.00 per unit Sale:    150 units @ $15.00 per unit

The XYZ Company completed the following perpetual inventory transactions: May 1 Beginning inventory 20 units @ $ 61 eachMay 11 purchase 6 units @ $ 76 eachMay 23 sale 16 units @ $ 89 eachMay 26 purchase 14 units @ $ 86 eachMay 29 sale 17 units @ $ 89 eachRequirements1. Calculate cost of goods sold, Cost of ending inventory, and gross profit using LIFO.2. During periods of rising prices, which method (FIFO-LIFO-AVCO) results in the highest gross profit? Why?3. Which method would be more consistent with the matching principle? Why?

Mist Company uses a PERIODIC inventory system. Mist had the following inventory purchases and sales during 2021: 2021 Beginning Inventory (purchased in 2020)   Purchases:   60 units @ $20 per unit   Purchase 1 on 3/8/21   140 units @ $28 per unit Purchase 2 on 8/5/21   50 units @ $32 per unit       Sales:     Sale 1 on 5/8/21   80 units @ $90 per unit Sale 2 on 9/13/21   125 units @ $90 per unit              Of the items sold on 5/8/2021, 60 units were from the beginning inventory and 20 units were from 3/8/21 purchase. The 9/13/21 sale included 85 units from the 3/8/21 purchase and 40 units from the 8/5/21 purchase.    Show how Mist's Balance Sheet and Income Statement would look under each of the inventory cost flow assumptions.  Compute Ending Inventory, Sales, COGS, and Gross Profit under Specific Identification, Weighted Average Cost, FIFO and LIFO. Fill in your answers on the table below. SHOW YOUR WORK. Round per…

Assume the perpetual inventory system is used unless stated otherwise. Round all numbers to the nearest whole dollar unless stated otherwise. Computing the gross profit percentage Macarthy Landscape Supply’s selected accounts as of December 31, 2018, follow. Compute the gross profit percentage for 2018.

The Stake Technology Inc. company has the following purchases and sales during the year ended December 31, 2014. Sales March 5: 110 units October 21: 200 units Inventory and Purchases Beginning: 210 units @ $15/unit March 31: 150 units @ $16/unit July 13: 250 units @ $17/unit The units have a selling price of $20.00 per unit. a) Given that Stake Technology Inc. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory. Cost of goods available for sale: Units available for sale: Units remaining in ending inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit eamed by Stake Technology Inc. using the weighted average system. Calculate weighted average cost per unit of merchandise inventory to the nearest cent Cost of Goods Sold Ending Inventory Gross Profit 9,800 610 210 Weighted…