You are given the following information regarding sa Inventory Year Sales 2010 $12,502.00 $6,869.74 2011 $13,456.00 $7,297.13 2012 $17,845.00 $9,263.40 2013 $15,326.00 $8,134.89 2014 $14,464.00 $7,748.71
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- Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 330 units at $15 13 Sale 170 units 22 Purchase 340 units at $16 29 Sale 400 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. $ fill in the blank 1 per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. $fill in the blank 2 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. Please provide solution in an image based thankuRaya Khamis Alsadi Muscat Company uses the periodic inventory system to account for inventories. Information related to Muscat Company's inventory for the month of January 2020 is given as follows: Units Per unit price Total Balance, 1/1/20 200 OMR 5.00 Purchase, 1/15/2020 100 5.30 Purchase, 1/28/2020 100 5.50 The physical inventory count on January 31 shows 120 units are on hand. Using the FIFO method, what is the cost of goods sold? Select one: O a. OMR 1,424 Ob. None of the answers are correct Oc. OMR 520 O d. OMR 656 O e. OMR 600 Coull is S OCalculating Weighted-Average Cost Inventory Values The Brattle Corporation began operations in 2018. Information relating to the company’s purchases of inventory and sales of products for 2018 and 2019 is presented below. 2018 March 1 Purchase 220 units @ $12 per unit June 1 Sold 120 units @ $25 per unit September 1 Purchase 100 units @ $15 per unit November 1 Sold 130 units @ $25 per unit 2019 March 1 Purchase 70 units @ $16 per unit June 1 Sold 80 units @ $30 per unit September 1 Purchase 100 units @ $18 per unit November 1 Sold 90 units @ $35 per unit Calculate the weighted-average cost of goods sold and ending inventory for 2018 and 2019 assuming use of (a) the periodic method and (b) the perpetual method.
- The following data relates to the business of Hunter for the year ended 31 December 2009. Inventory at 1 January 2009 Inventory at 31 December 2009 42,700 48,300 Purchases 279,600 Purchase returns 3,400 Discounts received 2,100 What was the cost of sales for the year to 31 December 2009?Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $14 13 Sale 160 units 22 Purchase 360 units at $17 29 Sale 300 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. $fill in the blank 1 16.72 per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. $fill in the blank 2 5,016 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. $fill in the blank 3 3,674.401. The following information relates to the one typy of inventory of Toy Ltd during the month of May 2022. Ignore GST. 1/5 Beginning inventory 10/5 Purchase 15/5 Purchase 23/5 Purchase Totals Units 2,520 1,800 1,080 1,800 7,200 Units cost ($) 33 34.8 36.6 39 Total cost ($) 83,160 62,640 39,528 70,200 $255,528 Toy Ltd has adopted the Periodic Inventory System. A physical count on 31 May verified that 2160 units of the type of inventory were on hand. Required: a) Determine the Ending inventory and Cost of Sales for the month of May, using the FIFO costing method. b) Discuss at least 4 differences between Perpetual and Periodic Inventory systems. Your comparison should be based on aspects such as recording keeping, internal control, end of period process and business opportunity etc.
- ParesDuring 2021, a company sells 260 units of inventory for $90 each. The company has the following inventory purchase transactions for 2021: Number of Units Unit Date Transaction Cost. Total Cost Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase 67 $62 $ 4,154 166 63 10,458 12,220 188 65 421 $26,832 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold 吕口 F3 88 F4 4) FI1 F5 FB F9 F12 F10 @ # $ 4 & 3 5 6 7 8 { W E Y F H J K > ? C V alt command option command .. .* V • * co B.The following inventory transactions took place for Wildhorse Ltd. for the year ended December 31, 2023: Cost/ Selling Date Event Quantity Price Jan 1 beginning inventory 19,900 $42.85 Jan 5 sale 5,840 73.00 Feb 15 purchase 34,800 40.25 Mar 10 purchase 10,200 49.00 May 20 sale 42,100 73.00 Aug 22 purchase 15,100 44.80 Sep 12 sale 20,200 73.00 Nov 24 purchase 9,000 47.00 Dec 5 sale 16,200 73.00 Calculate the ending inventory balance for Wildhorse Ltd., assuming the company uses a perpetual inventory system and the moving- average cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, e.g. 52.75 and ending inventory to O decimal places, e.g. 5,275.) Ending inventory Unit cost of the last item sold $ eTextbook and Media Su
