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?

Q: During 2021, a company sells 374 units of inventory for $94 each. The company has the following…

A: Under LIFO Method, cost of goods sold and value of ending inventory is calculated on the assumption…

Q: Below are the merchandise transactions of Yellow Company for the month of January        2019.…

A: Sales Jan,10,2019 8000 15 120000   Jan,25,2019 3000 17 51000     11000   171000

Q: Zeller Company sells gadgets and uses the perpetual inventory system. During the month of January…

A: Inventory Valuation Methods are used to determine the cost of goods sold and the cost of ending…

Q: Wonka Candy Ltd. is a retail company that sells chocolate bars. The company uses the perpetual…

A: Periodic inventory system means where day to day in or out of goods is not recorded and value of…

Q: Alfa INC began January 2021 with 20 units of iron inventory that cost 15 euro each. During January,…

A: In FIFO method , The inventory bought first are sold first. In LIFO method , the inventory bought…

Q: Debra King Company was formed on December 1, 2019. The following information is available from…

A: FIFO (First In First Out):Under this method, it is assumed that goods purchased first is sold first,…

Q: What is the correct Cost of Goods Sold under the FIFO method given the following information?…

A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…

Q: Record the following transactions in the general journal of Fitzroy Ltd using (a) perpetual…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Curfew Co. uses the periodic inventory method. They started the year with beginning inventory of 120…

A: Calculation of cost of goods available for Sale Date Particulars Number of Units  Unit…

Q: King Company had 25 units @$5 in beginning inventory; bought 30 units @$6 and then sold 50 units.…

A: The first in first out is a method to account for inventory, according to this method the entity…

Q: Vargas Company uses the perpetual inventory system and the FIFO cost flow method. During the current…

A: The cost of goods sold (COGS) is the "direct cost" of producing any products or services. It is…

Q: During 2021, a company sells 260 units of inventory for $91 each. The company has the following…

A: FIFO (FIRST IN FIRST OUT METHOD) GOODS WHICH ARE PURCHASED FIRST ARE SOLD FIRST .

Q: You have the following information for Waterway Industries for the month ended October 31, 2022.…

A: "LIFO" stands for last-in, first-out, meaning that the recently purchased inventory items are…

Q: The following data are available for Sellco for the fiscal year ended on January 31, 2023: Sales…

A: FIFO is first in first out which means inventory bought first is sold first.LIFO is last in first…

Q: Johnson Company reports the following inventory information for beginning inventory, purchases, and…

A: LIFO: In Last-in-first-out it is assumed that the last purchased item will be sold first. So, the…

Q: Crane Corporation sells item A as part of its product line. Information as to balances on hand,…

A: FIFO method is one of the methods of inventory valuation in which it is assumed that old purchases…

Q: The following data represent the beginning inventory and, in order of occurrence, the purchases and…

A: 1. LIFO Method - Under LIFO Method, Inventory purchased last is sold first.   2. Periodic Inventory…

Q: Tyler Company has the following information related to purchases and sales of one of its inventory…

A: Calculating the ending inventory and cost of goods sold using the FIFO  is as follows:

Q: Liverpool Company uses a perpetual inventory system. The following table shows the beginning…

A: Introduction FIFO stands for First In First Out Method. It is a technique used for the assets…

Q: During 2021, a company sells 373 units of inventory for $92 each. The company has the following…

A: Inventory valuation is based on the method of flow used by the organization. It can be the first in…

Q: Anton Company uses the perpetual inventory system and FIFO cost flow method. During the year, Anton…

A: Given: - Number of inventory purchased first: - 400 units Cost of per inventory purchased first: -…

Q: Curfew Co. uses the periodic inventory method. They started the year with beginning inventory of 120…

A:

Q: Rally Wheels, Inc. had the following balances and transactions during 2018: Beginning Merchandise…

A: Calculate ending inventory : Sales unit = 50+125 = 175 Total Units available for sale = 100+200 =…

Q: 1) During 2021, a company sells 30 units of inventory at $60. The company has the following…

A: INVENTORY VALUATIONInventory Valuation is a Method of Calculation of Value of Inventory at the End…

Q: You are provided with the following information for Concord Inc. for the month ended June 30, 2020.…

A: SOLUTION-                                   COST OF GOODS AVAILABLE FOR SALE      DATE…

Q: The following is the information for ABC Corporation for the inventory transactions The company sold…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Port Corporation sells item X-100. Purchases, sales and costs of item X-100 for the last quarter of…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Muscat Company uses the periodic inventory system to account for inventories. Information related to…

A: FIFO METHOD It is an accounting method for valuation of assets. Under FIFO method , inventory of…

Q: Liverpool Company uses a perpetual inventory system. The following table shows the beginning…

A: First-in-first-out (FIFO) method is an inventory valuation method under which the oldest goods items…

Q: What should Cake report as cost of goods sold for 2022? Cake Company sells one product which it…

A: Inventory valuation is the determination of the cost of the inventory at the end of the period which…

Q: determine the cost of goods sold and compute the ending inventory as of Jan. 31 and make the journal…

A: LIFO inventory method is Last in first out which says that inventory purchased last will be sold…

Q: During 2021, a company sells 340 units of inventory for $90 each. The company has the following…

A: Ending inventory (units) = Total units available for sale - no. of units sold = 418 - 340 = 78 units

Q: he following data are available for Sellco for the fiscal year ended on January 31, 2020:…

A: Calculation of COGS and ending inventory: FIFO COGS= (500*4)+(600*5)+(500*6) =2000+ 3000 +3000 =$…

Q: Monomaniacs Inc. makes use of a perpetual inventory system for the goods it sells. During January…

A: Last-In, First-Out (LIFO): The Last-In, First-Out (LIFO) approach operates on the presumption that…