Question: please solve Using the FIFO inventory method, what is the value of the ending inventory after the June sale? Date Source Units Purchased Cost Per

please solve Using the FIFO inventory method, what is the value

please solve

Using the FIFO inventory method, what is the value of the ending inventory after the June sale? Date Source Units Purchased Cost Per Unit Total Cost 1/1/2011 15 $12 $180 Beginning Inventory Purchase 2/1/2011 10 $13 $130 3/1/2011 Purchase 20 $14 $280 Total Goods Available for Sale 45 $590 Units sold 30 $25 O $197. $180. O $210. $220. $175

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!

Using LIFO, what is gross margin? Date Source Units Purchased Cost Per Unit Total Cost 1/1/2011 Beginning Inventory 1000 $25 $25,000 2/1/2011 Purchase 700 $23 $16,100 3/1/2011 Purchase 1,500 $20...

Using weighted average, what is gross margin? Date Source Units Purchased Cost Per Unit Total Cost 1/1/2011 Beginning Inventory 1000 $25 $25,000 2/1/2011 Purchase 700 $23 $16,100 3/1/2011 Purchase...

please solve Using the LIFO inventory method, what is the cost of goods sold? Date Source Units Purchased Cost Per Unit Total Cost $48 $42,000 $46 Beginning 1/1/2011 875 Inventory 2/1/2011 Purchase...

Using the FIFO inventory method, what is the value of the ending inventory after the June sale? Selling $ Activity Units Purchase $ per unit Total cost Units $12 $180 per unit Purchased June 1 15...

Using weighted average, what is the ending balance in inventory? Date Source Units Purchased Cost Per Unit Total Cost $48 $42,000 $46 Beginning 1/1/2011 875 Inventory 2/1/2011 Purchase 630 3/1/2011...

Using the specific identification method: a. Calculate the ending inventory. b. Calculate the cost of goods sold. Date Units purchased Cost per unit Ending inventory June 1 14 Echo Shows 360 $ 284 4...

FACULTY OF COMMERCE, MANAGEMENT AND LAW Assignment Questions AAM3691/2022 ASSIGNMENT QUESTIONS ASSIGNMENT 1 55 000 QUESTION 1 (30 MARKS) ABC Company ("ABC") is a company that manufactures bill boards...

AAM3691/2022 ASSIGNMENT QUESTIONS ASSIGNMENT 1 QUESTION 1 (30 MARKS) ABC Company ("ABC") is a company that manufactures billboards which is based in Ondangwa. The owner of ABC has little accounting...

Given the following data, calculate the cost of ending inventory using the FIFO costing method: Jan Beginning inventory 45 units at $10 per unit; Feb 25 Purchases 40 units at $12 per unit; June 15...

FACULTY OF COMMERCE, MANAGEMENT AND LAW (Please present your answers in a table format and mark the appropriate column by way of a (X)) for example: Cost Salaries Direct Indirect Period Varlable...

Another Diphenhydramine synthesis is shown in the following equation: (a) Show a mechanism for the first step in this synthesis. (b) Explain which mechanism is occurring in the secondstep. OCH CH...

Alya's Company has credit sales BD. 65,000, revealed that 1.5% of these sales will be uncollectible. So Bad Debt Expense will be:Immersive Reader (2.5 Points) BD 875 BD 975 BD 6,500

The leverage effect Question 7 Answer a . contributes to a reduction in the Return of capital employed b . contributes to amplifying the Return on Equity c . both a and b d . neither a nor b

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

3. What academic disciplines are used to study information systems and how does each contribute to an understanding of information systems?

3. What kinds of businesses are most likely to benefit from equipping their employees with mobile digital devices such as iPhones and iPads? How much of your job can you do from the palm of your...

4. One company deploying iPhones has said, The iPhone is not a game changer, its an industry changer. It changes the way that you can interact with your customers and with your suppliers. Discuss the...