Unit Transactions Units Cost Beginning inventory, January 1 Transactions during the year: a. Purchase on account, March 2 b. Cash sale, April 1 ($46 each) c. Purchase on account, June 30 d. Cash sale, August 1 ($46 each) 200 $30 300 32 (350) 250 36 (50)

! Required information [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Sales Purchase Sales Purchase Sales Purchase Activities Beginning inventory Units Acquired at Cost Units Sold at Retail 120 units @ $2 = $ 240 94 units @ $ 8 174 units @ $3 = $ 522 140 units @ $ 8 170 units @ $4 = $ 680 134 units @ $ 8 52 units @ $5 $ 260 Totals 516 units 368 units 1,702 The company uses a periodic inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method.

its Skipped eBook The following information is available for the year ended December 31: Beginning raw materials inventory Raw materials purchases Ending raw materials inventory Advertising expense The amount of raw materials used in production for the year is: $ 12, 200 88,400 11, 600 780

sd subject-Accounting

Required Informatlon [The following information apples to the questions displayed below] The Shirt Shop had the following transactions for T-shirts for Year 1, Its first year of operations. Purchased 500 units @ $ 7 = January 20 April 21 July 25 September 19 $3,500 Purchased 30e units @ $9 = Purchased 38e units @ $12 = Purchased 190 units @ $14 = 2,700 4,560 2,660 During the year, The Shirt Shop sold 1,110 T-shirts for $23 each. b. Record the above transactions In general journal form and post to T-accounts assuming (1) FIFO, (2) LIFO, and (3) weighted-average methods. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions.

I will appreciate your help

July 1, purchased 10 units for $910 or $91 per unit; July 3, purchased 15 units for $1,590 or $106 per unit; July 14, sold 20 units; July 17, purchased 20 units for $2,300 or $115 per unit; July 28, purchased 10 units for $1,190 or $119 per unit; July 31, sold 23 units. Using FIFO, the cost of goods sold for the sale of 23 units on July 31 is _____________and the inventory balance at July 31 is ___________.

Required Informatlon [The following Information applies to the questions displayed below.] The Shirt Shop had the following transactions for T-shirts for Year 1, Its first year of operations. Purchased 50e units @ $ 7 = Purchased 3e0 units @ $9 = Purchased 38e units @ $12 = Purchased 190 units @ $14 = $3,500 2,700 January 20 April 21 July 25 September 19 4,560 2,660 During the year, The Shirt Shop sold 1,110 T-shirts for $23 each. c. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptlons. Difference in gross margin between the FIFO and LIFO cost flow assumptions