Lannister Inc. holds 12,000 units of inventory on January 1, 2017. Under FIFO the inventory lot...

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Lannister Inc. holds 12,000 units of inventory on January 1, 2017. Under FIFO the inventory lot costs are: Inventory Lot H I Inventory Lot A F Date 12/13/2016 12/22/2016 Under LIFO the same inventory lots costs are: I Units 6,000 6,000 Date 4/22/2012 10/15/2014 12/22/2016 Units 2,000 4,000 6,000 Cost/Unit $120 $125 a. What is Lannister's total sales revenue for January? Cost/Unit $60 $84 $125 Under average cost the same 12,000 inventory units have a total cost of $1,320,300. Lannister uses a periodic inventory system. During January 2017, Lannister records the following transactions (in chronological order): • Sells 2,000 units of inventory with revenue of $175 per unit. • Purchases 4,000 units of inventory at a cost of $130 per unit. • Sells 5,000 units of inventory with revenue of $180 per unit. • Purchases 3,000 units of inventory at a cost of $132 per unit. • Sells 4,000 units of inventory with revenue of $184 per unit. Total Cost $720,000 $750,000 Total Cost $120,000 $336,000 $750,000 b. How many units of inventory did Lannister have available for sale during the month of January? c. How many units did Lannister have in ending inventory on January 31, 2017? d. Using FIFO, what was Lannister's cost of goods available for sale (COGAS) for January? e. Using FIFO, what was the value of Lannister's ending inventory on January 31, 2017? f. Using FIFO, what was Lannister's cost of goods sold (COGS) for January? g. Using LIFO, what was Lannister's cost of goods available for sale (COGAS) for January? h. Using LIFO, what was the value of Lannister's ending inventory on January 31, 2017? i. Using LIFO, what was Lannister's cost of goods sold (COGS) for January? j. Using average cost, what was Lannister's cost of goods available for sale (COGAS) for January? k. Based on your answer to jabove, what was average cost per unit of inventory available for sale during January? For this question only, enter your answer in dollars and cents (xxxx) without a $ sign. 1. Using average cost, what was the value of Lannister's ending inventory on January 31, 2017? m. Using average cost, what was Lannister's cost of goods sold (COGS) for January? n. If a company reports inventory value of $40,000 using LIFO, and its LIFO reserve is $25,000, what value for inventory would it have reported if it had used FIFO instead? Lannister Inc. holds 12,000 units of inventory on January 1, 2017. Under FIFO the inventory lot costs are: Inventory Lot H I Inventory Lot A F Date 12/13/2016 12/22/2016 Under LIFO the same inventory lots costs are: I Units 6,000 6,000 Date 4/22/2012 10/15/2014 12/22/2016 Units 2,000 4,000 6,000 Cost/Unit $120 $125 a. What is Lannister's total sales revenue for January? Cost/Unit $60 $84 $125 Under average cost the same 12,000 inventory units have a total cost of $1,320,300. Lannister uses a periodic inventory system. During January 2017, Lannister records the following transactions (in chronological order): • Sells 2,000 units of inventory with revenue of $175 per unit. • Purchases 4,000 units of inventory at a cost of $130 per unit. • Sells 5,000 units of inventory with revenue of $180 per unit. • Purchases 3,000 units of inventory at a cost of $132 per unit. • Sells 4,000 units of inventory with revenue of $184 per unit. Total Cost $720,000 $750,000 Total Cost $120,000 $336,000 $750,000 b. How many units of inventory did Lannister have available for sale during the month of January? c. How many units did Lannister have in ending inventory on January 31, 2017? d. Using FIFO, what was Lannister's cost of goods available for sale (COGAS) for January? e. Using FIFO, what was the value of Lannister's ending inventory on January 31, 2017? f. Using FIFO, what was Lannister's cost of goods sold (COGS) for January? g. Using LIFO, what was Lannister's cost of goods available for sale (COGAS) for January? h. Using LIFO, what was the value of Lannister's ending inventory on January 31, 2017? i. Using LIFO, what was Lannister's cost of goods sold (COGS) for January? j. Using average cost, what was Lannister's cost of goods available for sale (COGAS) for January? k. Based on your answer to jabove, what was average cost per unit of inventory available for sale during January? For this question only, enter your answer in dollars and cents (xxxx) without a $ sign. 1. Using average cost, what was the value of Lannister's ending inventory on January 31, 2017? m. Using average cost, what was Lannister's cost of goods sold (COGS) for January? n. If a company reports inventory value of $40,000 using LIFO, and its LIFO reserve is $25,000, what value for inventory would it have reported if it had used FIFO instead?

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aWhat is Lannisters total sales revenue for January Total Sales Revenue200017550001804000184 1986000 b How many units of inventory did Lannister have ... View the full answer