Solve the following:

* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 2 - Ch x N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica. M FYE Outreach - Mon. SA Apply for Financial... W 64 Mar Vista Ave -... 460 Vista Ave, Pasa.. 2 br, 2 bath Condo.. 2 br, 2 bath Condo. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 2 Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn's house. At the end of the current period, Emma looks over her inventory and finds that she has 0.9 . 1,300 units (products) in her basement, 20 of which were damaged by water and cannot be sold. points 350 units in her van, ready to deliver per a customer order, terms FOB destination. 80 units out on consignment to a friend who owns a retail store. How many total units should Emma include in her company's period-end inventory? Book Units in Ending Inventory: Units stored in basement 1,300 units Hint Add: Print Less: References Total units in period-end inventory units Mc Hill 8:25 PM Q Search 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 5 - Ch X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon.. SA Apply for Financial.. W 64 Mar Vista Ave -... 460 Vista Ave, Pasa.. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 5 Ames Trading Company has the following products in its ending inventory. 0.9 Cost per Market per points Product Quantity Unit Unit Mountain bikes 11 $ 690 $ 550 Skateboards 13 350 425 Gliders Book Compute lower of cost or market for inventory applied separately to each product. Per Unit Total Inventory Items Units LCM applied to Hint Cost Market Cost Market each product Mountain bikes Print Skateboards Gliders References Mc Hill 8:25 PM Q Search 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 13 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon. 45 Apply for Financial... W 64 Mar Vista Ave -... 460 Vista Ave, Pasa.. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 13 Required Information Costs are assigned to the Cost of Goods Sold account each time a sale occurs in a perpetual system. Specific identification assigns a cost to each item sold by referring to its actual cost (for example, its net invoice cost). Weighted average assigns a cost to items sold by dividing the current balance in the Inventory account by the total items available Part 1 of 5 for sale to determine cost per unit. We then multiply the number of units sold by this cost per unit to get the cost of each sale. FIFO assigns cost to items sold assuming that the earliest units purchased are the first units sold. LIFO assigns cost to items sold assuming that the most recent units purchased are the first units sold. 0.9 points Book Print Beginning Net inventory + purchases References = Merchandise avail D sale Ending + Cost of inventory goods sold Mc Q Search T 8:27 PM 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 13 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon. (SA Apply for Financial.. W 64 Mar Vista Ave -... 460 Vista Ave, Pasa.. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 13 Required information Part 1 of 5 = Merchandise 0.9 points avail DI sale :Book Ending + Cost of Print inventory goods sold References Knowledge Check 01 A company has beginning inventory of $10.500. purchases of $5.500. and ending inventory of $2.500. The cost of goods sold is Cost of goods sold Mc Hill Q Search T 8:28 PM 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 14 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica. M FYE Outreach - Mon. 45A Apply for Financial... W 64 Mar Vista Ave -... 460 Vista Ave, Pasa. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 14 Required Information Costs are assigned to the Cost of Goods Sold account each time a sale occurs in a perpetual system. Specific identification assigns a cost to each item sold by referring to its actual cost (for example, its net invoice cost). Weighted Part 2 of 5 average assigns a cost to items sold by dividing the current balance in the Inventory account by the total items available for sale to determine cost per unit. We then multiply the number of units sold by this cost per unit to get the cost of each sale. FIFO assigns cost to items sold assuming that the earliest units purchased are the first units sold. LIFO assigns cost to items sold assuming that the most recent units purchased are the first units sold. 0.9 points Book Date Activity Units Acquired at Cost Units Sold at Retail Unit Inventory Aug. 1 Beginning inventory .... 10 units @ $ 91 = $ 910 10 units Print Aug. 3 Purchases ............ .. .... 15 units @ $106 = $1,590 25 units Aug. 14 Sales 20 units @ $ 130 5 units Aug. 17 Purchases .....4.. 20 units @ $115 = $2,300 25 units Aug. 28 Purchases 10 units @ $119 = $1,190 35 units References Aug. 30 Sales ......- 23 units @ $ 150 12 units Totals ... 15 units $5,990 43 units Date Goods Available for S D of Goods Sold Ending Inventory Aug 1 DO$ 91 $ 910 $ 91 $ 910 Aug. 3 15 a $106 = $1,590 5 @ $106 = $1,590 Aug. 17 20 # $115 = $2.300 15 @$115 = $1.725 5 @ $115 = $ 575 Aug 28 10 @ $119 = $1,190 3 @ $119=$ 357 7@ $119 - $ 833 $5.990 43 $4,582 12 $1,40 Mc CO- Hill 8:28 PM Q Search 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 14 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon.. 45A Apply for Financial... W 64 Mar Vista Ave -... 460 Vista Ave, Pasa. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 14 Required information Date Goods Available for S D of Goods Sold Ending Inventory Part 2 of 5 Aug 1 10 $ 91-$ 910 $ 91 5 910 Aug. 3 15 a $106 = $1,590 15 4 $106 = $1,590 0.9 points Aug 17 20 @ $115 = $2.300 5 @$115 = $1.725 5 @ $115 = $ 575 Aug 28 10 @ $119 = $1,190 3 0 $119-$ 357 7@ $119 -$ 833 $5,99 43 $4,582 12 $1,408 Book Print Knowledge Check 01 References A company uses a periodic inventory system. On August 1. the company had 6 items of beginning inventory with a cost of $7 per unit. On August 3, the company purchased 16 units at $14 per unit. Then, on August 5. the company sold 12 units. The 12 units sold consisted of 7 units from the August 30 purchase and 5 units from the August 15 beginning inventory. Using specific identification, the cost of the 12 units sold is Cost of the units sold Mc CO- Hill Q Search 8:28 PM 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 15 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon. A Apply for Financial... W 64 Mar Vista Ave -... 460 Vista Ave, Pasa. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 15 sale. FIFO assigns cost to items sold assuming that the earliest units purchased are the first units sold. LIFO assigns cost to items sold assuming that the most recent units purchased are the first units sold. Part 3 of 5 0.9 points Book Date Goods Available for Sale Cost of Goods Sold Ending Inventory Aug 1 10 0 $ 91=$ 910 10 @ $ 91=$ 910 Print ALKI 3 15 @ $106 = $1,590 15 @ $106 = $1,590 References ALL 17 20 # $115 = $2,300 D $115 = $2,070 2 @ $115 = $ 230 Aug. 28 10 a $119 = $ 1,190 10 @ $119 - $1.190 $5,990 43 $4,570 12 $1,420 Mc Graw Q Search op 8:28 PM L 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 15 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon.. SA Apply for Financial.. W 64 Mar Vista Ave -... 460 Vista Ave, Pasa.. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 15 Required information 15 @ $106 = $1,590 15 @ $106 = $1,590 Part 3 of 5 Aug. 17 20 @ $115 = $2,300 D $115 = $2,070 2 0 $115 = $ 230 Aug 28 10 a $119 = $ 1,190 10 @ $119 - $1.190 0.9 43 $1,420 points $5,990 $4,570 12 Book Print References Knowledge Check 01 A company uses a periodic inventory system. On August 1, the company had 6 items of beginning inventory with a cost of $7 per unit. On August 3, the company purchased 16 units at $14 per unit. Then, on August 5. the company sold 12 units. Using FIFO, the cost of the 12 units sold is . Cost of the units sold Mc Hill Q Search op 8:28 PM 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 16 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon. SA Apply for Financial.. W 64 Mar Vista Ave -... 460 Vista Ave, Pasa. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 16 Required Information Costs are assigned to the Cost of Goods Sold account each time a sale occurs in a perpetual system. Specific Part 4 of 5 dentification assigns a cost to each item sold by referring to its actual cost (for example, its net invoice cost). Weighted average assigns a cost to items sold by dividing the current balance in the Inventory account by the total items available for sale to determine cost per unit. We then multiply the number of units sold by this cost per unit to get the cost of each sale. FIFO assigns cost to items sold assuming that the earliest units purchased are the first units sold. LIFO assigns cost 0.9 points to items sold assuming that the most recent units purchased are the first units sold. Book Print Date Goods Available for Sale Cost of Goods Sold Ending Inventory References Aug.1 10 @ $ 91=$ 910 10 @ $ 91 = $ 910 AUG. 3 15 @ $106 -$1,590 13 # $106 - $ 1,378 2 0 $106 - $ 212 Aug 17 20 @ $115 = $2,300 20 @ $ 115 -$2.300 Aug. 28 10 @ $119 - $1,190 D $ 119 = $ 1.190 $5,990 43 $4,868 12 $1,122 Mc Graw Q Search L T Op 8:29 PM 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 16 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon. sA Apply for Financial.. W 64 Mar Vista Ave -... 460 Vista Ave, Pasa. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 16 Required information Date Goods Available for Sale Cost of Goods Sold Ending Inventory Part 4 of 5 Aug. 1 10 @ $ 91=$ 910 10 @ $ 91 = $ 910 Aug. 3 15 @ $106 $1,590 13 # $106 - $ 1,378 2 @ $106 - $ 212 0.9 points Aug. 17 20 @ $115 - $2,300 20 @ $ 115 - $2.300 Aug. 23 10 @ $119 = $1,190 D $ 119 = $ 1,190 $5,990 43 $4,868 12 $1,122 Book Print References Knowledge Check 01 A company uses a periodic inventory system. On November 1, the company had 8 items of beginning inventory with a cost of $22 per unit. On November 2, the company purchased 10 units at $21 per unit. On November 6, the company purchased 5 units at $25 per unit. Then, on November 8. the company sold 18 units. Using LIFO. the cost of the 18 units sold is Cost of the units sold Mc Graw Q Search L T Op 8:29 PM 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 17 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon.. SA Apply for Financial... W 64 Mar Vista Ave -... 460 Vista Ave, Pasa. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 17 Required Information Part 5 of 5 Costs are assigned to the Cost of Goods Sold account each time a sale occurs in a perpetual system. Specific identification assigns a cost to each item sold by referring to its actual cost (for example, its net invoice cost). Weighted average assigns a cost to items sold by dividing the current balance in the Inventory account by the total items available for sale to determine cost per unit. We then multiply the number of units sold by this cost per unit to get the cost of each point ale. FIFO assigns cost to items sold assuming that the earliest units purchased are the first units sold. LIFO assigns cost to items sold assuming that the most recent units purchased are the first units sold. Book Print Weighted average cost per unit = Cost of goods available for sale + Units available for sale Date Goods Available for Sale Cost of Goods Sold Ending Inventory References Aug. 1 10 $ 91=$ 910 Aug. 3 15 of $106 - 51,590 ALL 17 20 @ $115 = $2,300 Aug 21 10 @ $119 = $ 1,190 55 units $5,990 D = $108.91 43 a $108.91 = $4,683 12 ( $108.91 = $1,307 $5,990/SSunits Mc Hill Q Search L 8:29 PM 10/16/2024* N Work-Study | No x | ) Applications | Ra X | N Dashboard * N Ch 05 -Concept X M Question 17 - CI X N Ch 05 SmartBoo x | X G 25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2525%252Fconnect.mheducation.com%252Fconnect%25... Q M Financial Aid Applica.. M FYE Outreach - Mon.. 45 Apply for Financial.. W 64 Mar Vista Ave -... 460 Vista Ave, Pasa. 2 br, 2 bath Condo. 2 br, 2 bath Condo.. > > All Bookmarks Ch 05 -Concept Overview Videos Saved Help Save & Exit Submit Check my work 17 Required information Aug. 1 10 $ 91=$ 910 Part 5 of 5 Aug. 3 15 0 $106 - 51,590 ALL 17 20 @ $115 = $2.300 1 point Aug- 22 10 @ $119 = $ 1,190 D 55 units $5,990 = $108.91 43 a $108.91 = $4,683 12 ex $108.91 = $1,307 Book $5,990/SS units) Print References Knowledge Check 01 A company uses a periodic inventory system. On April 1. the company had 9 items of beginning inventory with a cost of $13 per unit. On April 18, the company purchased 15 units at $14 per unit. Then, on April 29, the company sold 14 units. Using weighted average, the cost of the 14 units sold is closest to. Cost of the units sold Mc Q Search 8:29 PM 10/16/2024