The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 First purchase @ May 7 Second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 1,800 units @ $5.20 1,900 units @ $5.40 2,100 units @ $5.50 1,700 units @ $5.60 5,800 units @ $7.10 What is the amount of gross margin assuming the FIFO cost flow method? Multiple Choice O $24,070 O $21,970

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Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 880 $50 Purchased 600 52 Sold 400 $100 Sold 350 110 Ending inventory 730 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of units Unit Cost Total Cost of units Unit Cost Total Cost of units Unit Cost Total Cost Beginning Purchase Sale Sale Total Purchases Total COGS

LIFO, Perpetual and Periodic Riedel Company's inventory records showed the following transactions for the fiscal period ended June 30:   Units     Cost/Unit   June 1 Inventory 700     $6.20 June 3 Purchase 400     6.40 June 15 Sales @ $12.00 300       June 22 Sales @ $12.50 600       June 30 Purchase 600     6.70 Required: 1. Compute the ending inventory and the cost of goods sold under the LIFO cost flow assumption assuming both a perpetual and a periodic inventory system. If required, round your answers to the nearest dollar. LIFO - periodic:Ending inventory     $fill in the blank 1Cost of goods sold   $fill in the blank 2 LIFO - perpetual:Ending inventory     $fill in the blank 3Cost of goods sold   $fill in the blank 4     2. Under which of the following assumptions may the cost of goods sold include the costs of the most latest purchases of the period, even though those purchases were made after the sales took place?     Under which of the following…

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The inventory records for Radford Company reflected the following: Beginning inventory @ May 1 First purchase @ May 7 Second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 700 units @ $3.60 2,700 units @ $5.10 What is the amount of cost of goods sold assuming the LIFO cost flow method? Multiple Choice $9,720 $9,430 $8,640 $9,180 800 units @ $3.20 900 units @ $3.40 1,100 units @ $3.50

The inventory records for Radford Company reflected the following: Beginning inventory @ May 1900 units @ $3.40 First purchase @ May 7 1,000 units @ $3.60 Second purchase @ May 17 1,200 units @ $3.70 Third purchase @ May 23 800 units @ $3.80 Sales @ May 31 3,000 units @ $5.30 What is the amount of gross margin assuming the FIFO cost flow method? Multiple Choice $10,730 $ 5,700 $5,170 $4,820

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Park Company’s perpetual inventory records indicate the following transactions in the month of June:                                                                  1. Compute the cost of goods sold for June and the inventory at the end of June using each of the following cost flow assumptions:                              a. FIFO                                                                                                              b. LIFO                                                                                                              c. Average cost (Round unit costs to 3 decimal places and other amounts to the nearest dollar.)                                                                                         2. Next Level Why are the cost of goods sold and ending inventory amounts different for each of the three methods？what do these amounts tell us about the purchase price of inventory during the year?                      3. Next Level Which method produces…

There are such data of the ABC Company’s activity. The company uses perpetual inventory updating.    Number of Units Unit Cost, $ Sales prise, $ Beginning inventory 900 60   Purchased 700 65       Sold 1 900   100     Sold 2 200   120 Ending inventory       Find ending inventory and its cost Calculate the cost of goods sold in units and in dollar value for Company ABC for the month. Provide calculations for first-in, first-out (FIFO) method. Find Gross margin for the 1-st and 2-d sells