FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- BI 420 $200 Sold 150 $401 Pur. 250 $205 Sold 275 $421 Pur. 200 $215 Sold 260 $441 EI 185 PB10. LO 10.3Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for Weighted Average.arrow_forwardFle LUIL Iset Omlat Ticip 10 B I U S A 田 Arial f Cost of Goods Sold3= U Y H. K L M A B C. 43 UFO 44 45 Date Item Quantity Cost Per Unit Total 46 47 Ending Inventory Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses $1.400.00 Gross Profit %=== Net Income AVERAGE COST 70 71 Average Cost Per Unit= Cost of Goods Sold=: Ending Inventory 74 77 Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income $1,400.00 Gross Profit %= Sheet1 Sheet2 Sheet3arrow_forwardPlease do not give solution in image format thankuarrow_forward
- Don't provide answers in image formatarrow_forwardPeriodic Inventory System Company A $ 520,000 Company B Beginning inventory + Net Purchases 327,000 TOTAL GOODS AVAILABLE TO SELL 685,000 750,000 (Ending Inventory) 290,000 Cost of Goods Sold $ 615,000 For Company A determine Net Purchases and Cost of Goods Sold. For Company B determine Beginning Inventory and Ending Inventory. Company A: Net purchases 4 and Cost of goods sold type your answer. Company B: Beginning inventory type your answer... and Ending inventory type your answer.arrow_forward15arrow_forward
- Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400 Freight-in $840 Beg Inv @ retail $18,000 Purchases @ cost $54,600 Net markdowns $1,144 4. Which retail inventory method excludes markups but includes markdowns in calculating the cost ratio? (LIFO Retail Method, Average Cost Method, LCM Conventional Method or none of these) Thank you Brendaarrow_forwardPlease help with questionarrow_forwardkauskarrow_forward
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