Question: Need help with theseName HW # 9 Problem 3 The activity below is for calendar 2 0 1 4 . table [ [ The

Need help with theseName
HW #9
Problem 3
The activity below is for calendar 2014.
\table[[The activity below is for calendar 2014.,Units sold at retail],[Date,Activities,Units Acquired,$ 26,400],[Jan.1,Beginning Inv,600 units @ $44,$ 8,000,,],[\table[[Feb.10],[Mar.13]],,200 units @ $40=,$ 2,000,,],[\table[[Mar.13],[Mar.15]],,100 units @ $20=,,400 units @ $75,$ 30,000],[Mar.15,,,$ 9,600,,],[Aug.21,,280 units @ $48,$ 13,440,,],[Sept.5,,280 units @ $48,$ 13,440,200 units @ $75,$ 15,000],[Sept.10,,1,340,$ 59,440,,]]
Required:
1 Compute cost of goods available for sale and the number of units available for sale.
2 Compute the number of units in ending inventory.
3 Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, (d) specific identification. Specific ID sales data: 500 units from beginning inventory
100 units from the March 13 purchase
4 Compute gross profit for each of the 4 methods
1 Cost of goods available for sale
Acquisition Date
Total
\table[[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,]]
2 Units in ending inventory
\table[[,,],[,,]]
HW #9
Problem 4
Ending inventory include the following items. Compute the LCM for ending inventory applied separately to each product.
\table[[\table[[Ending in inventory],[Inv. Item]],Units,Cost,Market, Total
Cost ,Total Market,LCM Applied to items],[],[,35,$,160,$,125,,,],[Camcorders,38,,105,,155,,,],[DVD's,25,,120,,,,,]]
Problem 5
Use the following information to calculate the inventory turnover for 2021 and 2020, and its days' sales in inventory at December 31,2011. Round answers to 1 decimal.
31,2011. Round answers to1 decimal. 2021735,785,$,2020722,598,$,2019697,851
Cost to goods sold $,$,99,819,$,95,752
Ending inventory $,106,078,$,
2020 Inventory Turnover
2020 Days' Sales in Inventory
2021 Inventory turnover
2021 Days' Sales in Inventory
Need help with theseName HW # 9 Problem 3 The

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 Finance Questions!