Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning...
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Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 30 Purchased Units available for sale Cost of goods available for sale Jan. 10: 80 units from beginning inventory Mar. 15: 13 units from beginning inventory, and Oct. 5: 95 units 350 units 600 units UITIES 267 units from the March 14 purchase 60 units from the March 14 purchase, and 490 units from the July 30 purchase Calculate cost of goods sold and the gross profit. @$13.00 T $ 1,235 @ $14.00 4,900 @$15.00 = 9,000 Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 910 units were specifically sold as follows: $15,135 Help Save & Exto Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 30 Purchased Units available for sale Cost of goods available for sale Jan. 10: 80 units from beginning inventory Mar. 15: 13 units from beginning inventory, and Oct. 5: 95 units 350 units 600 units UITIES 267 units from the March 14 purchase 60 units from the March 14 purchase, and 490 units from the July 30 purchase Calculate cost of goods sold and the gross profit. @$13.00 T $ 1,235 @ $14.00 4,900 @$15.00 = 9,000 Urban Glam Cosmetics made sales on the following dates at a selling price of $36 per unit Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 910 units were specifically sold as follows: $15,135 Help Save & Exto
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Answers 1 FIFO METHOD Perpetual Cost of goods sold 75 14 10 14 220 1... View the full answer
Related Book For
Fundamental Accounting Principles Volume 1
ISBN: 9781259259807
15th Canadian Edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Posted Date:
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