Question: Find the cost ratio for the inventory table shown below. Date of purchase Units purchased Cost per Total Retail price Total retail unit cost

Find the cost ratio for the inventory table shown below. Date of

Find the cost ratio for the inventory table shown below. Date of purchase Units purchased Cost per Total Retail price Total retail unit cost per unit value Beginning inventory 95 $11 $1,045 $18 $1,710 April 12 22 $9 $198 $12 $264 May 8 16 $10 $160 $16 $256 June 2 36 $13 $468 $21 $756 Goods available for sale 169 $1,871 $2,986 Units sold 89 Ending inventory 80 The cost ratio is (Type an integer or decimal rounded to the nearest thousandth as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Research and Discuss about various stages of Procurement Process from Annual Report of your company (word limit-500-700 words) company According to standard product procurement process flow chart

Why are restaurants used to identify hazard risk, compliance risk, control and opportunity for loss risk?

Question: Old MathJax webview Old MathJax webview i need ans of these question but the source is alot Old MathJax webviewOld MathJax webview i need ans of these question but the source is alot these...

Cost per $12 Find the cost ratio for the inventory table shown below. Units Retail price Total retail Date of purchase purchased unit Total cost per unit value Beginning inventory 95 $11 $1,045 $18...

Determine the unit cost for units in ending inventory for the inventory table shown below. Use last-in, first-out inventory method. Units Cost per Retail price Total retail Date of purchase purchased...

Question 1 Inventories, Current & Non-Current Assets, Liabilities, adjusting entries 20 marks Use XERO to establish a business that is titled as Question 1, Student ID Number and your Name as the...

help with yellow spaces Units purchased Cost per Total Cost Units Sold Selling unit of Purchase unut Total Sales Price per 240 $12 $2,880 190 $40 $7,600 360 14 Date Jan. 1 Beginning inventory Jan. 11...

Hello, i have 3 accounting questions need you help. The questions are in the attach file. 1 On December 31, 20x0, the Glass Corporation sold inventory to Broke Inc. on the following terms: the full...

Proof-reading required. I have done my budgeting assignment and think that I have gone wrong. I need to know one thing in specific that I feel I didn't include is the 100,000$ payable at the start...

Required Information Use the following information for the Quick Study below. (Algo) (15-18) [The following information applies to the questions displayed below.] Trey Monson starts a merchandising...

The graph of the derivative f of a function f is shown. (a) On what intervals is f increasing or decreasing? (b) At what values of x does f have a local maximum or minimum? y= f'(x) 0 4

Choose R L in the figure below for maximum power transfer. 5kn 6 V 5kn 400 RL

Aaron, Desnne, and Keon formed ne Ble Bet Geteral Fansershe at the beginng of fie cuent jett Aarion and Dearre each contributed $ 1 3 6 , 0 0 0 and Keon vanufemed an acre of undeveloped land sthe...

Greiner, Inc., a calendar year S corporation, holds no AEP. During the year, Chad, an individual Greiner shareholder, receives a cash distribution of $30,000 from the entity. Chads basis in his stock...

The following excerpt is from an article reported in the May 7, 2014, online issue of Bloomberg. (Blomberg) Ford Motor Co. (F) said it will repurchase $1.8 billion of its shares to reduce dilution...

Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock to Grayson on April 1. ClockCo reports a $70,000 NOL for the entire tax year, but $10,000 of the loss occurs...

You are interested in an investment project that costs $40,000 initially. The investment has a 5-year horizon and promises future end-of- year cash inflows of $12,000, $12,500, $11,500, $9,000, and...

Data pertaining to the current position of Forte Company follow: Cash...........................................................$412,500 Marketable securities................................187,500...

A shaft carries five masses A, B, C, D and E which revolve at the same radius in planes which are equidistant from one another. The magnitude of the masses in planes A, C and D are 50 kg, 40 kg and...

Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021, are shown below: Required: 1. For each independent case, calculate...

How does commercial paper differ from a bank loan? Why is the interest rate often less for commercial paper?

What is comprehensive income? How does comprehensive income differ from net income? Where do companies report it in a balance sheet?

=+1 Suppose that the time it takes a customer to get and pay for seats at the ticket window of a baseball park is a random variable with a mean of 100 seconds and a standard deviation of 50 seconds....

=+c) What assumption did you make about the two customers in finding the standard deviation?

Coupon usage study. A hot topic in marketing research is the exploration of a technology-based self-service (TBSS) encounter, in which various technologies (e.g., ATMs, online banking, self-scanning...