The following amounts and costs of platters were available for sale by Coulter, Inc. during the year: Beginning inventory 10 units at $164 First purchase 15 units at $220 Second purchase 30 units at $280 Third purchase 25 units at $260 Coulter, Inc., which uses a periodic inventory system, has 35 platters on hand at the end of the year. How much is cost of goods sold in dollars at the end of the year according to the weighted average cost method? Select one: A. $11,160 B. $19,840 C. $7,440 D. $6,930

What is the Weighted average cost per unit?

What is the amount of the inventory at the end of the year using the LIFO method?

The following lots of a particular commodity were available for sale during the year Beginning inventory 11 units at $52.00 First purchase 18 units at $53.00 Second purchase 21 units at $58.00 Third purchase 17 units at $61.00 The firm uses the periodic system, and there are 21 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. A. $1,092.00 B. $3,760.00 C. $3,781.00 D. $1,269.00

Flora’s Gifts reported the following current-month data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 60 units—50 units from the January 6 purchase and 10 units from the January 25 purchase. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and inventory amounts to cents.) (e) Which method yields the lowest net income?

Assume your organization has the following inventory changes during the year: Beginning inventory-15 units valued at $10,000 each. February purchases-13 units at $11,500 each. June purchases-20 units at $12,000 each. Total units used-42. Calculate the value of the ending inventory and the value of the inventory used (the inventory expense) for the year, using both the FIFO and the LIFO method of cost-flow.

Lopez Company reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 150 units—50 from each of the last three purchases. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and inventory amounts to cents.) (e) Which method yields the highest net income?

he following data are available for Sellco for the fiscal year ended on January 31, 2020:              Sales 1,600 units       Beginning inventory 500 units @ $ 4 Purchases, in chronological order 600 units @ $ 5   800 units @ $ 6   500 units @ $ 8   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 $80,000. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

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)

Use the information below to answer the following question. The following lots of a particular commodity were available for sale during the year: Beginning inventory First purchase Second purchase Third purchase 10 units at $30 25 units at $32 30 units at $34 10 units at The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the LIFO method? a. $620 b. $655 c. $690 id. $659