Marsh Company had 150,000 units of product A on hand at January 1, costing P21 each. Purchases of product A during the month of January were as follows:           Units   Unit cost January 10    200,000        22 18       250,000        23 28       100,000        24 A physical count on January 31 shows 250,000 units of product A on hand.  What is the cost of the inventory on January 31 under the FIFO method

Dublin Corporation provides the following information related to its inventory during the month of October: October 1 Inventory on hand-3,000 units; cost $6.00 each. October 9 Sold 2,400 units for $10.00 each. October 12 Purchased 1,200 units for $6.30 each. October 18 Sold 1,000 units for $10.20 each. October 24 Purchased 1,400 units for $7.20 each. October 31 Inventory on hand Required: Using calculations based on a PERPETUAL inventory system, determine the inventory balance Dublin would report in its October 31 balance sheet and the cost of goods sold it would report in its October income statement using each of the following cost flow methods. 1. Determine the cost assigned to ending inventory and to cost of goods sold using the FIFO method. 2. Determine the cost assigned to ending inventory and to cost of goods sold using the LIFO method. 3. Compute the amount of gross profit under the two methods.

Morgenstern Ltd. has the following units and costs for the month of April. Beginning inventory, April 1, 1,000 units at $20 (Cost) Purchase 1, April 9, 1,200 units at $23 (cost) Sold, April 12, 2,100 units at $40 (Retail) Purchase 2, April 22, 800 units at $25 (Cost) If Morgenstern uses a perpetual inventory system, what is the cost of ending inventory under FIFO at April 30? a.$18,000 b.$22,300 c.$45,300 d.$49,600

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 310 units. Ending inventory at January 31 totals 130 units.    Units Unit Cost Beginning inventory on January 1 280 $ 2.60   Purchase on January 9 60   2.80   Purchase on January 25 100   2.94     Required:Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO.

Keaton Accessories uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total Cost Beginning Inventory (Jan. 1) 180 $70 $12,600 Purchase (Jan. 9) 90 75 6,750 Purchase (Jan. 21) 90 76 6,840 Total 360 $26,190 On January 24, Keaton sold 200 units of this product. The other 160 units remain in inventory at January 31. i.) Determine the cost of goods sold using each of the following flow assumptions: LIFO FIFO Average Cost ii.) Determine the cost of the 160 units in inventory at January 31 using each of the following flow assumptions: LIFO 2$ FIFO Average Cost %24 %24

Beginning inventory consist of 800 units at P200 each. Purchases made for the period: January 18 for 700 units at P210 each and another on January 31 for 500 units at P220 each. Sales were also made during the period; 500 unist were sold on January 8, and 800 units were sold on January 22. The company uses the FIFO method of inventory costing. 1. How much is the cost of goods purchased on January 18? 2. How much is the total cost of purchases during the period? 3.

Autok Fabricators, Inc. has 10 units in beginning inventory costing $45 each. It purchased 90 more for $36each during the month. The company sold 80 units during the month. Autok used a periodic inventorysystem.Calculate cost of goods sold using:a) FIFOb) Weighted-average costc) LIFO

In its first month of operations, WeatherallCompany made three purchases of merchandise in the following sequence: (1) 300 units at $ 6, (2)  400 units at $ 7, and (3) 200 units at $ 8. Compute the cost of the ending inventory under the average-cost method, assuming there are  360 units on hand.

A company had the following purchases and sales during its first year of operations: Purchases January: 10 units at $120 20 units at $125 February: May: September: 15 units at $130 12 units at $135 November: 10 units at $140 On December 31, there were 26 units remaining in ending inventory. Using the periodic FIFO inventory costing method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.) Multiple Choice $3,540 Sales 6 units 5 units 9 units 8 units 13 units $3,445

Vegas uses the periodic inventory system. For the current month, the beginning inventory consisted of 1,200 units that cost $12 each. During the month, the company made two purchases: 500 units at $13 each and 2,000 units at $13.50 each. Vegas also sold 2,150 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? $