Shown below is activity for one of the products of Denver Office Equipment:       January 1 balance, 500 units @ $55 per unit $27,500 Purchases:   January 10: 500 units @ $60 per unit January 20: 1,000 units @ $63 per unit Sales:   January 12: 800 units January 28: 750 units     Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a periodic inventory system.   Ending Inventory Cost Of Goods Sold

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 280 units. Beginning Inventory Purchase Purchase Required: Date January 1 January 15 Units Unit Cost 120 $ 85 Total Cost $ 10,200 380 95 January 24 200 115 36,100 23,000 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 cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted…

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Shown below is the activity for one of the products of Random Creations: January 1 balance, 80 units @ $50 $4,000 Purchases: January 18: January 28: Sales: 40 units @ $51 40 units @ $52 January 12: January 22: January 31: 30 units 30 units 45 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Creations uses LIFO and a periodic inventory system. Ending inventory Cost of goods sold

Inventory records for Capetown, Incorporated revealed the following: Number of Date April 1 April 20 Transaction Units Unit Cost Beginning Inventory Purchase 460 310 $ 2.39 2.51 Capetown sold 630 units of inventory during the month. Cost of goods sold assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)

Sunland Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 200 $5.00 Purchases: September 8 900 6.00 September 18 900 7.00 A physical inventory on September 30 shows 520 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory $ Cost of goods sold $ +A

Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available Unit Cost Units Total Cost 250 10 $2,500 April 1 Inventory April 15 Purchase 400 12 4,800 13 4,550 April 23 Purchase Compute the April 30 Cost of goods sold Balance utilizing the average cost method. 350

Wildhorse Company uses a periodic inventory system. Its records show the following for the month of April, with 23 units on hand at April 30: April 1 Inventory 12 Purchases 16 Purchases Total Unit Total Units Cost Cost |8 བ ཅེ སུ $7 $189 12 588 10 170 $947 (a) Calculate the ending inventory and cost of goods sold at April 30 using the FIFO and weighted average cost formulas. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275.) Ending Inventory Cost of Goods Sold FIFO $ Weighted average

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Cullumber Company uses a periodic inventory system. Its records show the following for the month of April, with 25 units on hand at April 30: Units Unit Cost Total Cost April 1 Inventory 30 $8 $240 12 Purchases 45 10 450 16 Purchases 17 11 187 Total 92 $877 (a) Calculate the ending inventory and cost of goods sold at April 30 using the FIFO and weighted average cost formulas. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275. )