Motors has the following inventory information. Nov. 1 Inventory 30 units e s8.00 Purchase 120 units e $8.30 17 Purchase 60 units e s8.70 25 Purchase 90 units e s8.80 A physical count of merchandise inventory on November 30 reveals that there are 80 units on hand. Assume a periodic inventory system is used. Cost of goods sold (rounded to the nearest dollar) under the average-cost method is Select one: a.$1.870. b. $1.912

Beginning inventory, purchases, and sales for an inventory item are as follows: Date Line Item Description Units and Cost Sep. 1 Beginning Inventory 24 units @ $15 5 Sale 17 units 17 Purchase 10 units @ $20 30 Sale 8 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of goods sold for the September 30 sale. fill in the blank 1 of 2$ b. Determine the inventory on September 30.

Given the following data, calculate the cost of goods sold for the 04/15 sale using the weighted-average method for a perpetual inventory system, rounding to the nearest dollar. (Do not round in the process of your calculations, only round your final answer.) 1/1 3/5 Beginning inventory Purchases 4/15 Sale 5/30 Purchases 10/25 Purchases 11/15 Sale 12/31 Ending inventory O $280 O $600 $200 $230 50 units at $10 per unit 30 units at $14 per unit 20 units at $30 per unit 25 units at $15 per unit 20 units at $16 per unit 60 units at $32 per unit 45 units

Sunland Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date July July 6 1 July 11 July 14 July 21 July 27 (a1) July 1 July 6 July 11 July 14 Units Unit Cost $150 5 6 Purchases 7 $ Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to O decimal places and final answers to 3 decimal places, e.g. $105.501.) ta ta $ $164 July 21 $ $175 Average cost for each unit July 27 $ Sales Units 3 5 5

Wilkenson Inc. has the following information available for November: Date   Units Cost per Unit Total Cost Nov 1 Beginning Inventory 70 $50 $3500 Nov 5 Purchase 30 $60 1800 Nov 14 Sale (60)     Nov 25 Purchase 60 $52 3120 Nov 30 Sale (80)       Total 20 $162 8420 Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method.    Description Perpetual-Weighted Average COGS   Cost of Ending Inventory

The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,100 units at $39 Apr. 19 2,500 units June 30 4,400 units at $45 Sept. 2 5,100 units Nov. 15 1,900 units at $48 Date Jan. 1 Apr. 19 The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. June 30 Sept. 2 Nov. 15 Sale Dec. 31 Purchase Sale Purchase Quantity Balances Purchases Unit Cost Total Cost Schedule of Cost of Goods Sold LIFO Method Quantity Cost of Goods Sold Unit Cost Total Cost $ Quantity Inventory Unit Cost Total Cost $

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning inventory 156 units @ $10 = $1,560 May 5 Purchase 226 units @$12 = $2,712 May 10 Sales 146 units @ $20 May 15 Purchase 106 units @$13 = $1,378 May 24 Sales 96 units @ $21

Haynes Company uses the perpetual inventory system. The following information is available for the month the March. March 1 Beginning Inventory 10 units at $2 for $20, March 4 Sold 8 units, March 22 Purchased 50 units at $4 for $200, March 26 Sold 48 units. If Haynes Company uses the LIFO inventory costing method, what is the balance in Ending Inventory at March 31?   A. $40 B. $16 C. $12 D. $8

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 91 March 18 March 25 March 29 Total Beginning inventory Purchases: March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals, Required: 1. Compute cost of goods available for sale and the number of units available for sale. Units Acquired at Cost 80 units @ $50.60 per unit 215 units @ $55.60 per unit # of units 75 units @ $60.60 per unit 130 units @ $62.60 per unit Cost per Unit 500 units Cost of Goods Available for Sale Cost of Goods Available. for Sale Units Sold at Retail 240 units @ $85.60 per unit 110 units @ $95.60 per unit 350 units

Cullumber Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date July 1 July 6 July 11- July 14 July 21 July 27 (a1) Units Unit Cost July 1 Purchases July 5 6 July 21 7 July 27 July 6 $ July 11 $ $ Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to 0 decimal places and final answers to 3 decimal places, e.g. $105.501.) 14 $ SA $130 $ $144 Average cost for each unit $ $155 Sales Units 3 5 5