If Comcast is upgrading its cable boxes and has 550 obsolete boxes in ending inventory.Beginning inventory and purchasesBeginning inventory: January 1Вох сost$ 22ВохesTotal cost16,2007,2003, 2001,8501,100$356,400165,60086,40055,50042,900March 123June 127September 1December 1303929,550$706,800What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2decimal places and final answers to the nearest dollar amount.)Ending inventoryFIFOLIFOWeighted-average

Name: If Comcast is upgrading its cable boxes and has 550 obsolete boxes in
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: If Comcast is upgrading its cable boxes and has 550 obsolete boxes in ending inventory.Beginning inventory and purchasesBeginning inventory: January 1Вох сost$ 22ВохesTotal cost16,2007,2003, 2001,8501,100$356,400165,60086,40055,50042,900March 123Jun

In this question, we are required to calculate the cost of ending inventory under 3 different…

Business

Accounting

If Comcast is upgrading its cable boxes and has 550 obsolete boxes in ending inventory. Box cost $ 22 Total cost Beginning inventory and purchases Beginning inventory: January 1 March 1 Boxes 16,200 7,200 3, 200 1,850 $356,400 23 165,600 86,400 June 1 27 September 1 December 1 30 55,500 42,900 1,100 39 29,550 $706,800 What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted-average

If Comcast is upgrading its cable boxes and has 550 obsolete boxes in ending inventory. Box cost $ 22 Total cost Beginning inventory and purchases Beginning inventory: January 1 March 1 Boxes 16,200 7,200 3, 200 1,850 $356,400 23 165,600 86,400 June 1 27 September 1 December 1 30 55,500 42,900 1,100 39 29,550 $706,800 What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted-average

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 16E: Dollar-Value LIFO A company adopted the LIFO method when its inventory was 1,800. One year later its...

See similar textbooks

Similar questions

If Comcast is upgrading its cable boxes and has 650 obsolete boxes in ending inventory. Bох cost Beginning inventory and purchases Beginning inventory: January 1 Воxes Total cost $ 17,000 8,000 4,000 2,250 $30 510,000 248,000 140,000 85,500 March 1 31 June 1 35 September 1 38 December 1 000,ו 47 47,000 32,250 $1,030,500 What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted-average
If Comcast is upgrading its cable boxes and has 600 obsolete boxes in ending inventory. Beginning inventory and purchases Beginning inventory: January 1 March 1 June 1 September 1 December 1 FIFO LIFO Weighted-average Boxes 15,000 6,000 Ending inventory 2,000 1,250 1,200 25,450 Box cost $ 10 11 What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? Note: Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. 15 18 27 Total cost $ 150,000 66,000 30,000 22,500 32,400 $ 300,900
How much is the Input VAT? (Excluding Transitional Input VAT) RTT opt to register to VAT on its 3rd year of operation Beginning Inventory (including vat of 5,005) Sales (VAT inc) 250,000.00 4,200,000.00 Purchases (VAT Exc) 2,500,000.00 250,000 300,000 223,214.28 O Other:
6. MNO Company is preparing the annual financial statements dated December 31, 2022. Information about inventory stocked for regular sale follows: Item A B C D Quantity on Hand 80 35 40 75 Unit Cost When Acquired €50 €20 €50 €40 Market Value at year end €30 €25 €80 €20 a) Compute the valuation for the December 31, 2022, inventory using the lower-of-cost-or-net realizable value basis and make necessary adjusting journal entries. b) Sold 15 units of A for €20 in cash, 3 units of B for €30 and 10 units of C for €75 cach in cash and written-off 5 units of D. Make necessary journal entries. 7. Improvements were made to the leased warehouse on June 01, 2021 at a cost of $ 22,000. The estimated life of the improvement is ten years. Lease contract terminates on December 31, 2025. Make necessary entries as of 31.12.2021 and 31.12.2022.
Dollar-Value LIFO A company adopted the LIFO method when its inventory was 1,800. One year later its ending inventory was 2,100, and costs had increased 5% during the year. Required: What is the ending inventory using dollar-value LIFO? Round to the nearest dollar.
Maxwell Corporation has the following inventory information at the end of the year: Inventory Item A Item B Item C Quantity 20 50 40 Multiple Choice Using the lower of cost and net realizable value method, for what amount would Maxwell report ending inventory? $2,300. $2,050. O $2,550. Unit Cost $20 30 10 O $2,800. Unit NRV $35 25 15
TRANSACTIONS DURING January 2019 Cost (OMR) Amount (OMR) 3000 3000 Date Particulars Units Beginning Inventory 300 200 10 15 January 1 January 2 January 11 Purchase January 18 Purchase Purchase 100 17 1700 300 20 6000 Total Purchase 900 13,700 Date Particulars Units Cost (OMR) Amount (OMR) January 8 Sales 300 30 9000 January 15 Sales 250 40 10000 Total Sales 550 19000 Required a) How would issues and closing inventory be valued using FIFO b) Give journal entry assuming that if the business follows perpetual inventory method
1. The following information relates to the one typy of inventory of Toy Ltd during the month of May 2022. Ignore GST. 1/5 Beginning inventory 10/5 Purchase 15/5 Purchase 23/5 Purchase Totals Units 2,520 1,800 1,080 1,800 7,200 Units cost ($) 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.
The following information pertains to Julia & Company: March 1 Beginning inventory = 29 units @ $5.90 March 3 Purchased 19 units @ 4.20 March 9 Sold 30 units @ 8.60 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your int your answer to the nearest dollar amount.) Multiple Choice $177. $126. < Prev 22 of 60 Next 20 F3 000 D00 F4 F5 F6 F8 F2 $ & * 4 5 6 8 9 公
Sheridan Combines, Inc. has $12000 of ending finished goods inventory as of December 31, 2022. If beginning finished goods inventory was $7000 and cost of goods sold was $42000, how much would Sheridan Combines, Inc. report for cost of goods manufactured? O $54000 O $7000 O $47000 O $37000 Save for Later Attempts: 0 of 1 used Submit Answer
Given the following: Numberpurchased Costper unit Total January 1 inventory 30 $ 5 $ 150 April 1 50 8 400 June 1 40 9 360 November 1 45 10 450 165 $ 1,360 a. Calculate the cost of ending inventory using the LIFO (ending inventory shows 51 units). b. Calculate the cost of goods sold using the LIFO (ending inventory shows 51 units).
Consider the following information for costing purposes: Sales P80,000; Opening Inventory P10,000; Net Purchases P45,000; and Cost of Goods Sold P50,000. Determine the Ending Inventory.a. P10,000b. P15,000c. 5,000d. 25,000