Wan Tan Corp. made the following four inventory purchases in June: June 1 150 units $5.20 June 10 200 units $5.85 June 15 200 units $6.30 June 28 150 units $6.60 On June 22, 450 units were sold. The company uses the perpetual inventory system and the weighted average to value the inventory. Calculate the cost of goods sold for the sale. Round to the nearest whole dollar. Select one: a. $2,580 b. $2,628 c. $2,700 d. $1,572

Assume Ava Co. has the following purchases of inventory during the first month of operations   Number of Units Cost per unit First Purchase 140 2.4 Second Purchase 105 4.7   Assuming Ava Co sells 120 units at $14 each, what is the cost of goods sold if they use LIFO?

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

company made the following merchandise purchases and sales during the month of May: May 1 Purchased 380 units at $15 each May 5 Purchased 270 units at $17 each May 20 Purchased 300 units at $22 each Sold 800 units There was no beginning inventory. Calculate Cost of Goods Sold and Ending Inventory under (a) FIFO, (b) LIFO, and (c) Weighted Average.

Anderson's Department Store has the following data for inventory, purchases, and sales of merchandise for December: Activity Units Purchase Price (per unit) Sale Price (per unit) Beginning inventory 10   $8.00       Purchase 1, Dec. 2 22   8.80       Purchase 2, Dec. 5 26   9.05       Sale 1, Dec. 7 19       $20.00   Sale 2, Dec. 10 25       20.00   Purchase 3, Dec. 12 12   9.80       Sale 3, Dec. 14 20       20.00   Anderson's uses a perpetual inventory system. All purchases and sales were for cash.   3.  Compute cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per-unit calculations.) Round your answers to the nearest cent. Cost of goods sold $fill in the blank b442affb1fd1044_5 Cost of ending inventory $fill in the blank b442affb1fd1044_6 4.  Prepare the journal entries to record these transactions assuming Anderson chooses to use the FIFO method. If required, round your answers to the…

Akira Company had the following transactions for the month. Number Total of Units Cost Beginning inventory 150 $1,500 Purchased Mar. 31 180 2,160 Purchased Oct. 15 150 2,250 Total goods available for sale 480 5,910 Ending inventory 60 Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $26 each. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) $1 B. Last-in, First-out (LIFO) $1 C. Weighted Average (AVG)

Motors has the following inventory information. Nov. 1 Inventory 30 units @ s8.00 Purchase 120 units e $8.30 17 Purchase 60 units e $8.70 25 Purchase 90 units e $8.80 A physical count of merchandise inventory on November 30 reveals that there are 80 units on hand. Assume a periodic inventory system is used. Cost of goods sold (rounded to the nearest dollar) under the average-cost method is Select one: a $1.870. b. $1.812 C 51.758 d. $1.859

Jammer Company uses a weighted average perpetual inventory system and reports the following: 12 units at $12.50 per unit. 14 units at $18.00 per unit. August 2 Purchase August 18 Purchase August 29 Sale 24 units. August 31 Purchase 17 units at $15.50 per unit. What is the per-unit value of ending inventory on August 31? (Round your per unit answers to 2 decimal places.) Multiple Choice $12.50 $15.90 $16.64 $15.46 $15.50

Hi, This question is asking to determine the cost of goods sold and the cost of ending inventory using the average cost formula.

10. Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: Unit Units Cost Beginning inventory Purchase (June 5). Purchase (June 15) Sale (June 20). Sale (June 25). Purchase (June 30) 50 $10 10 16 30 14 40 20 10 20 Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be a. $512 b. $560 c. $768 d. $720