Perpetual: LIFO and Moving-Average The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are shown, Date Beginning Inventory and Purchases Sales Units Cost/Unit Units April 1 (BI) 100 $4.20 100 4.60 200 4.80 April 20 400 5.60 April 30 650 BI: Beginning Inventory Required: Calculate the total amount to be assigned to cost of goods sold for April and the ending inventory on April 30, under each of the following methods. In your calculations round the average unit cost to the nearest cent and answers to the nearest dollar. Cost of Goods Sold Inventory on Hand 1. Perpetual LIFO inventory method 2. Perpetual moving-average inventory method

Perpetual: LIFO and Moving-Average Kelley Company began business on January 1, 20-1. Purchases and sales during the month of January are shown. Purchases Sales Units Date Units 100 410 Jan. 1 Jan. 4 Jan. 5 Jan. 10 Jan. 12 Jan. 15 Jan. 18 Jan. 22 Jan. 27 Jan. 31 Required: Calculate the total amount to be assigned to cost of goods sold for January and the ending inventory on January 31, under each of the following methods. In your calculations round the average unit cost to four decimal places and answers to the nearest cent. 290 190 500 Cost/Unit $0.90 1.00 320 1.10 1.20 1.40 1.50 290 200 780 120 1. Perpetual LIFO inventory method 2. Perpetual moving-average inventory method Cost of Goods Sold $ Inventory on Hand $

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 330 units. Ending inventory at January 31 totals 140 units. Units Unit Cost Beginning inventory on January 1 300 $ 2.80 Purchase on January 9 70 3.00 Purchase on January 25 100 3.14 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling July 1 July 13 July 25 July 31 Beginning Inventory Purchase Units 43 Unit Cost $ 10 Price 215 11 Sold Ending Inventory (100) 158 $ 14 Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Beginning Inventory Units Cost per Unit Total 43 $ 10 $ 430 Purchases July 13 Goods Available for Sale 215 $ 11 $ 2,365 $ 258 Cost of Goods Sold Units from Beginning Inventory 43 $ 10 Units from July 13 Purchase $ 11 Total Cost of…

Akira Company had the following transactions for the month.   Numberof Units TotalCost Beginning inventory 140     $1,400   Purchased Mar. 31 190     2,280   Purchased Oct. 15 160     2,400   Total goods available for sale 490     6,080   Ending inventory 70     ?   Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $29 each. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.   Gross Margin A. First-in, First-out (FIFO) $fill in the blank 1 B. Last-in, First-out (LIFO) $fill in the blank 2 C. Weighted Average (AVG) $fill in the blank 3

Akira Company had the following transactions for the month. Number Total of Units Cost Beginning inventory 130 $1,300 Purchased Mar. 31 180 2,160 Purchased Oct. 15 150 2,250 Total goods available for sale 460 5,710 Ending inventory 50 Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $30 each. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) %24 %24

Haynes Company uses the perpetual inventory system. The following information is available for the month of 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 Cost of Goods Sold for March?   A. $212 B. $208 C. $204 D. $560

The following data are available for Sellco for the fiscal year ended on January 31, 2020:              Sales 840 units       Beginning inventory 250 units @ $ 4 Purchases, in chronological order 320 units @ $ 5   410 units @ $ 6   200 units @ $ 7   Required:a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.)   b. Assume that net income using the weighted-average cost flow assumption is $12,300. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

Subject - account  Please help me.  Thankyou.

Rand Company produces dry fertilizer. At the beginning of the year, Rand had the following standard cost sheet: Direct materials (8 lbs. @ $1.25) $10.00 Direct labor (0.15 hr. @ $18.00) 2.70 Fixed overhead (0.20 hr. @ $3.00) 0.60 Variable overhead (0.20 hr. @ $1.70) 0.34   Standard cost per unit $13.64 Overhead rates are computed using practical volume, which is 49,000 units. The actual results for the year are as follows: Units produced: 53,000 Direct materials purchased: 408,000 pounds at $1.32 per pound Direct materials used: 406,800 pounds Direct labor: 10,500 hours at $17.95 per hour Fixed overhead: $36,570 Variable overhead: $18,000 MPV=28,560 UNFAV   MUV=21,500 FAV   LRV=525 FAV   LEV=45,900 UNFAV   FIXED SPENDING VARIANCE= 7,170 UNFAV   FIXED VOLUME VARIANCE= 2,400 FAV   VARIABLE SPENDING= 150 UNFAV   VARIABLE EFFICIENCY= 4,335 UNFAV    Prepare journal entries for the following: The purchase of direct materials The issuance…