Multiple Select Question Select all that apply Which of the costs below would be included in the recorded cost of merchandise inventory? (Check all that apply.) Wages costs Invoice cost Storage costs Selling costs Insurance costs

How do I calculate cost of goods sold What numbers do I use to get finished goods inventory

PART 1: Raw Materials Inventory Turnover A. How is this ratio calculated? What does the ratio show? Using the data below (Sunn Corporation) , calculate and discuss the implications of Sunn's RM Inventory Turnover.   Days' Sales in Raw Materials Inventory B. How is this ratio calculated? What does the ratio show? Using the data below (Sunn Corporation)  calculate and discuss the implications of Sunn's  Days' Sales in RM Inventory

Scrappers Supplies tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31. Units Unit Cost $30 Transactions Beginning inventory, January 1 Transactions during the year: a. Purchase on account, March 2 b. Cash sale, April 1 ($46 each) c. Purchase on account, June 30 d. Cash sale, August 1 ($46 each) 200 300 32 (350) 250 36 (50) TIP: Although the purchases and sales are listed in chronological order, Scrappers determines the cost of goods sold after all of the purchases have occurred. Required: 1. Compute the cost of goods available for sale, cost of ending inventory, and cost of goods sold at December 31 under each of the following inventory costing methods: (Round "Cost per Unit" to 2 decimal places.) a. Last-in, first-out. LIFO…