Mark up cost structure example with example of Margin cost structure Sales       125%                                                      Sales         100% CoS         (100%)                                                   CoS            (75%) Gross Profit 25%.                                                   Gross Profit 25% The inventory value for the financial statements of Potrum Ltd for the year ended 31st March 2022 was based on an inventory count on 4th April 2022, which gave a total inventory value of $836,200. Between 31st March and 4th April the following transactions took place: Purchases of goods $8,600 Sales of goods (profit margin 30% on sales $14,000) Goods returned by Potrum Ltd to supplier $800 1. What adjusted figure should be included in the financial statements for inventories at 31st March 2021?

LIFO Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Date   Transaction Numberof Units Per Unit Total Apr. 3   Inventory 25   $1,200   $30,000   8   Purchase 75   1,240   93,000   11   Sale 40   2,000   80,000   30   Sale 30   2,000   60,000   May 8   Purchase 60   1,260   75,600   10   Sale 50   2,000   100,000   19   Sale 20   2,000   40,000   28   Purchase 80   1,260   100,800   June 5   Sale 40   2,250   90,000   16   Sale 25   2,250   56,250   21   Purchase 35   1,264   44,240   28   Sale 44   2,250   99,000   Required: 1.  Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER…

Computing Cost of Goods Sold and Ending Inventory Bartov Corporation reports the following beginning inventory and purchases for the year: Beginning inventory Inventory purchased 600 1,050 $10 each $6,000 $12 each 12,600 $18,600 Cost of goods available 1,650 units Bartov sells 900 of these units in the year. Compute its cost of goods sold for the year and the ending inventory reported on its year-end balance sheet under each of the following inventory costing methods: (Do not round until your final answer. Round to the nearest whole number.) FIFO LIFO Average cost Cost of goods sold $ 0 $ 0 $ 0 Ending inventory 0 0 0 Check

Savita

The following is information for Palmer Co.    Year 3 Year 2 Year 1 Cost of goods sold $ 643,825 $ 426,650 $ 391,300 Ending inventory   97,400   87,750   92,500   Use the above information to compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 3 and Year 2.

Inventory Analysis A company reports the following: Cost of merchandise sold $569,400 Average merchandise inventory 87,600 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a.  Inventory turnover fill in the blank 1 b.  Number of days' sales in inventory fill in the blank 2 days

The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 Third purchase on May 23 1,800 units @ $5.20 1,900 units @ $5.40 2,100 units @ $5.50 1,700 units @ $5.60 Sales on May 31 5,700 units @ $7.10 What is the weighted average cost per unit for May? Multiple Choice $5.37 $5.43

Date January 1 May 5 November 3 Weighted Average Transaction Beginning inventory Purchase Purchase Cost Beginning Inventory Purchases: May 5 November 3 Total Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.) Number of units Number of Units 60 Cost of Goods Available for Sale 60 Average Cost per unit 220 140 420 Cost of Goods Available for Sale $ 220 140 420 $33,700.0000 $ Unit Cost $76 4,560 79 84 17,380 11,760 33,700 Total Cost $4,560 17,380 11,760 $33,700 Cost of Goods Sold - Weighted Average Cost Number of units sold Average Cost per Unit Cost of Goods Sold 375 $30,280.0000 $ 11,355,000.00 Ending Inventory - Weighted Average Cost Number of units in ending inventory Average Cost per unit 45 $ Ending Inventory 3,420.0000 $ 153,900.00

Current Attempt in Progress The following financial statement items are shown for Cullumber Manufacturing. Inventory Total assets Salaries payable Total liabilities $27060 455% 22.0% 15.2% O 10.0% 123000 15000 55000 Calculate the common-size percentage for inventory.

Nikul