Question: I need a solution quickly please Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 20213 Date

I need a solution quickly

please

Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 20213 Date Transaction # of units Cost / Price per Total Cost/price unit (5) ($) 1/7 Beginning Inventory 200 4 800 5/7 Purchase 500 5 2500 Sale 400 8 1/7 15/7 3200 Purchase 500 5.5 2750 22/7 Sale 350 8 2800 30/7 Purchase 200 6 1200 If the company uses FIFO to value its inventory. Calculate the value of Cost of goods sold for July 2021 Note: (write your answer as a number only, no dollar signs or commas)

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!

Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Date Transaction # of Cost / Total units Price per Cost/ unit ($) price ($) 1/7 200...

Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Date Transaction # of Cost / Price Total Cost/ units per unit ($) price ($) 1/7...

Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Date Transaction # of Cost Price Total Cost/ units per unit ($) price (5) 200 4 800...

Time left 0:08:50 Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Date Transaction # of units Cost / Price per Total Cost/ price...

Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Date Transaction # of units Cost / Price per Total Cost/ price unit ($) ($) 1/7...

Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Date Transaction # of units Cost / Price per unit ($) Total Cost/ price ($) 1/7...

Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Transaction Cost / units Price per Cost/ unit ($) price ($) Date # of Total 1/7...

-Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of 2021 Total Cost/price Cost / Price per of units. Transaction Date (5) ($) unit Beginning...

Roma Company uses the Periodic Inventory System. It reported the following fronsactions for the month of 2001 Total Cost/price Cost Price per of units + Transaction DOH 1$) (5) unit Beginning...

4. A manufacturer wants to set up a control chart for the number (i.e. c-chart) of defective chips or its corresponding proportions (i.e. p chart). The following table shows a collection of 20...

The American Accounting Association holds its regional meetings at seven locations in the spring and its national meeting in August of each year. The meetings include the formal presentation of...

1 3 . 7 . 1 : Project - PartA: Rock, Paper, Scissors Round 2 - Player in coral language 1 3 . 7 Project - PartA: Rock, Paper, Scissors Round 2 - Player ( LT - C - SP 2 4 ) In this Assignment, you...

Which of the following are problems with identifying users of ABC? Multiple select question. ABC means different things to different organizations. Organizations will announce the discontinuance of...

In the Meteor case study, identify how Sarahs traditional approach could be enhanced by using technology in the recruitment process.

Compare and contrast the human resources profession with that of law and medicine in respect of characteristics such as professional knowledge, ethical considerations, local expertise required,...

Relate how process reengineering is used to review and redesign HRM practices. page 680