The following is selected information from Mars Corp. Compute net purchases, and cost of goods sold for the month of March. Inventory, Februray 28, 2018 $450,000 Inventory, March 31, 2018 330,500 Purchase discounts  12,450 Purchase returns and allowances 23,870 sales 276,900 sales discounts 34,660 Gross purchaases 120,400

Blossom Company uses the perpetual inventory system and had the following purchases and sales during March. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 90 $20 3/3 Purchase 50 $30 3/4 Sales 60 $40 3/10 Purchase 190 $35 3/16 Sales 70 $50 3/19 Purchase 30 $40 3/25 Sales 110 $50 Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31 using FIFO and LIFO. FIFO LIFO Cost of goods sold $ Ending inventory $ %24 %24

Selected data on merchandise inventory, purchases, and sales for Celebrity Tan and Ranchworks Co. are as follows:   Cost   Retail Celebrity Tan       Merchandise inventory, August 1 $248,000   $344,000 Transactions during August:       Purchases (net) 2,848,000   3,956,000 Sales     4,070,000         Ranchworks Co.       Merchandise inventory, March 1 $215,000     Transactions during March through November:       Purchases (net) 2,863,000     Sales 4,472,000     Estimated gross profit rate 35%       Required: 1.  Determine the estimated cost of the merchandise inventory of Celebrity Tan on August 28 by the retail method, presenting details of the computations. Celebrity Tan Cost of the Merchandise Inventory August 31     Cost Retail     $fill in the blank 4c1a98f55fecf8b_2 $fill in the blank 4c1a98f55fecf8b_3     fill in the blank 4c1a98f55fecf8b_5 fill in the blank 4c1a98f55fecf8b_6     $fill in the blank 4c1a98f55fecf8b_8 $fill in…

The records of Earthly Goods provided the following Information for the year ended December 31, 2020. At Cost At Retail $ 521, 350 $ 977,150 6,448, 700 129, 350 5,595, 700 January 1 beginning inventory Purchases 4,138, 245 Purchase returns 62, 800 Sales Sales returns 49, 600 Requlred: 1. Prepare an estimate of the company's year-end Inventory by the retall method. (Round all calculations to two decimal places.) EARTHLY GOODS Estimated Inventory December 31, 2020 At Cost At Retail Goods available for sale: Goods available for sale Cost to retail ratio Estimated ending inventory at cost

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.)

Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August. Merchandise inventory, August 1 $ 97,070 Merchandise inventory, August 31 102,680 Purchases 254,100 Purchases returns and allowances 12,310 Purchases discounts 5,360 Freight in 3,120 $

On July 1, the total inventory for Save-Mor Merchandisers was $614,100. Net purchases during the month were $313,900and sales amounted to $611,400. Gross margin on sales was 67%. Estimate the cost value of the inventory as of July 31 using the gross profit method (in $). $

Calculate using the gross profit method for the following: Gross profit on sales: 47% Beginning inventory on July 1: $49,009 Net purchase: $18,252 Net sales at retail for July: $14,400 Estimated ending inventory

Calculate the ending inventory and cost of goods sold dollar values for ABC Company for the month, considering the following transactions under three different cost allocation methods and using periodic inventory updating: |(a) First-in, first-out (FIFO) (b) Last-in, first-out (LIFO) Number of Unit Cost Sales Price Units Beginning Inventory 100 $20 Purchase 400 22 Sold 300 $30 Purchase 200 24 Sold 180 $35 Ending Inventory 220

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