ts. Each unit cost $8. ABC Company bought 400 units at $10 each during the year. They sold 450 units for $20 each. What is cost of goods available for sale? Group of answer choices
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- Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning inventory is 100,000. 2. Purchases returns of 4,000 were made. 3. Purchases of 300,000 were made on terms of 2/10, n/30. Eighty percent of the discounts were taken. 4. At December 31, purchases of 20,000 were in transit, FOB destination, on terms of 2/10, n/30. 5. The company made sales of 640,000. The gross selling price per unit is twice the net cost of each unit sold. 6. Sales allowances of 6,000 were made. 7. The company uses the LIFO periodic method and the gross method for purchase discounts. Required: 1. Compute the cost of the ending inventory before the physical inventory is taken. 2. Compute the amount of the cost of goods sold that came from the purchases of the period and the amount that came from the beginning inventory.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.Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.
- Beginning inventory has 100 units. ABC Company bought 400 units during the year. They sold 450 units. How many units are in cost of goods available for sale? Group of answer choices 50 500 450 950A company has beginning inventory for the year of $13,500. During the year, the company purchases inventory for $170,000 and ends the year with $25,000 of inventory. The company will report cost of goods sold equal to: Multiple Choice $195,000. $181,500. $170,000. $158,500. 30 888 FIV F3 F5 F8 F10 F6 FI F4 @ # 2$ % & 7 8 9 %3D 4 E Y U S F K > C V alt command option emmand .. .* B DIBeginning inventory has 100 units. ABC Company bought 400 units during the year. They sold 450 units. How many units are in cost of goods sold? Group of answer choices 450 50 500 950
- What is the weighted average unit cost using the following information? Beginning Inventory 11/1: 1,000 units at $25 per unit Purchase 11/10: 2,500 units at $30 per unit Purchase 11/15: 1,500 units at $20 per unit Sold 11/25: 2,500 units for $50 each $25.00 $26.00 $30.00 $36.00Beginning inventory has 100 units. ABC Company bought 400 units during the year. They sold 450 units. How many units are in ending inventory? Group of answer choices 450 50 500 950Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows: Purchase Number of Items Cost 1 200 $9.00 2 150 $9.30 3 50 $10.50 Glasgow sold 220 units after purchase 3 for $17.00 each. What is Glasgow's ending inventory under LIFO? Multiple Choice $2,220 $2,460 $1,950 $2,730
- S sells three products – Basic, Super and Luxury. The following information was available at the year end. Basic Super Luxury $ per unit $ per unit $ per unit Original cost 6 9 18 Estimated selling price 9 12 15 Selling and distribution costs 1 4 5 units units units Units of inventory 200 250 150 What is the value of inventory at the year end?Company sells following products - A, B and C. The following information was available at the year end. A B с $ per unit $ per unit $ per unit 18 8 25 13 4 6 Units 100 Original Cost Estimated Selling price Selling and distribution cost Units of inventory What is the value of inventory at the year end? O 3,124 O 3,500 O2,920 O 4,000 Units 40 14 25 7 Units 60First semester 2020 Q1: ABC company had the following purchases and sales information: Purchases Sales 10 units at $110 January February 20 units at $115 May 11 units November 10 units at $150 Using the FIFO inventory costing method, what is the cost of the ending inventory on 30 November? A. $3,400 B. $3,685 C. 2,185 D. $1,215