Seasons Limited would like to estimate the month end inventory by using the sales revenue earned during the month. It has the following sales and purchases information for the month of September to consider. Inventory, 1 September $500,000 1,300,000 50,000 Purchase Freight-in Sales 2,100,000 Sales returns 40,000 Purchase discounts 90,000

The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000      Purchases (at cost) $48,000 Sales returns 2,000      Purchases (at sales price) 88,000 Markups 10,000      Purchase returns (at cost) 2,000 Markup cancellations 1,500      Purchase returns (at sales price) 3,000 Markdowns 9,300      Beginning inventory (at cost) 30,000 Markdown cancellations 2,800      Beginning inventory (at sales price) 46,500 Freight on purchases 2,400       Instructions Compute the ending inventory by the conventional retail inventory method. The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000      Purchases (at cost) $48,000 Sales returns 2,000      Purchases (at sales price) 88,000 Markups 10,000      Purchase returns (at cost) 2,000 Markup cancellations 1,500      Purchase returns (at sales price) 3,000 Markdowns 9,300…

Anderson's Department Store has the following data for inventory, purchases, and sales of merchandise for December: Activity Units Purchase Price (per unit) Sale Price (per unit) Beginning inventory 10   $8.00       Purchase 1, Dec. 2 22   8.80       Purchase 2, Dec. 5 26   9.05       Sale 1, Dec. 7 19       $20.00   Sale 2, Dec. 10 25       20.00   Purchase 3, Dec. 12 12   9.80       Sale 3, Dec. 14 20       20.00   Anderson's uses a perpetual inventory system. All purchases and sales were for cash.   3.  Compute cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per-unit calculations.) Round your answers to the nearest cent. Cost of goods sold $fill in the blank b442affb1fd1044_5 Cost of ending inventory $fill in the blank b442affb1fd1044_6 4.  Prepare the journal entries to record these transactions assuming Anderson chooses to use the FIFO method. If required, round your answers to the…

Compute the average days in inventory rounded to the nearest whole day based on the following data: Sales revenue                 $275,000 Cost of goods sold            100,000 Beginning inventory            35,000 Ending inventory                 45,000

Akira Company had the following transactions for the month. Sales for the month are $25 per unit.      # of Units Cost per Unit Beginning Inventory 150 $10 Purchased Mar. 31 160 $12 Purchased Oct. 15 130 $15 Ending Inventory 50 ? In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating.  PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$". Weighted average cost per unit = ___?_____  per unit Cost Allocation Method Cost of Goods Available Cost of Goods Sold Ending Inventory Sales Gross Margin First-in, First-out (FIFO)           Last-in, First-out (LIFO)           Weighted Average (AVG)

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.

Based on the following data, determine the cost of merchandise sold for July: Increase in estimated returns inventory $22,000 Merchandise inventory, July 1 36,700 Merchandise inventory, July 31 70,500 Purchases 733,900 Purchases returns and allowances 25,000 Purchases discounts 14,700 Freight in 10,300

Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 330 units. Unit Cost $ 90 Date Units Total Cost $ 27,000 Beginning Inventory Purchase January 1 January 15 January 24 300 400 100 40, 000 36,000 Purchase 300 120 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (C) weighted average cost methods. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the number and cost of goods available for sale. Number of Goods Available for Sale units Cost of Goods Available for Sale

During June, the following changes in inventory took place. DATE June 1 June 14 June 24 DATE June 8 June 10 June 29 EVENT Beginning Balance Purchase Purchase TOTAL AVAILABLE FOR SALE EVENT Sale Sale Sale TOTAL SALES UNITS 1,400 800 800 3,000 UNITS 400 1,000 600 2,000 COST PER UNIT $24 $36 $30 SELLING PRICE $50 $40 $54 TOTAL COST For the month of June, calculate the: (1) Cost of good sold (in $) under the perpetual FIFO method. Answer is (2) Ending inventory (in $) under the perpetual LIFO method. Answer is (3) Gross Profit (in $) under the periodic weighted-average. Answer is $33,600 $28,800 $24,000 $86,400 TOTAL SALES $20,000 $40,000 $32,400 $92,400

How do I solve this?