Suppose a Bryant store in Ottawa, Ontano, ended September 2020 with 700,000 units of merchandise that...
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Suppose a Bryant store in Ottawa, Ontano, ended September 2020 with 700,000 units of merchandise that cost an average of 50 each Suppose the store then sold 650.000 units for 50 4 milion during October Further, assume the store made two largo purchases during October as follows Required 1. At October 31, the store manager needs to know the store's gross profit under both FIFO and weighted average cost Supply this domation Bryant uses the periodic inventory system 2. What caused the FIFO and weighted average cost gross prott figures to differ? Gross prote FIFO October 14 23 Requirement 1. At October 31, the store manager needs to know the store's gross profit under both FIFO and weighted average cost Supply this information Bryant uses the persodic inventory vyem (Round all calculations to one decimal place) Millions 170,000 units@ $8-$1,350,000 450 000 units 57 $3150 000 Weighted- Average Cost CHID Gross prof Requirement 2. What caused the FIFO and weighted average cost gross profit figures to differ? Gross pritt under FIFO and weighted average cost differ because inventory costs during the period K Suppose a bryant store in Ottawa, Ontario, ended September 2020 with 700,000 units of mechandon that cost an average of 50 each Suppose the one then soit 650,000 unts for $0 4 milion dumme October Further, assume the store made two large purchases during October as follows October Required 1. At October 31, the store manager needs to know the store's gross proff under both FFO and weighted average cost supply the information fryt uns the periodic inventory ser 2. What caused the FIFO and weighted average cost gross profit gusto differ? Goss prote Requirement 1. At October 31, the store manager needs to know the store's gross peolt under both FSO and weighted average cost Supply this intamation byant coes the periode intory system (Round all calculations to one decimal place) Cost of goods sold Goos profe FFO Millions 650.000 550.000 550 000 14 23 Weighted Average-Cost 6,300 000 170.000 unts@ $0 =$1,300,000 450,000 units $751150 000 Requirement 2. What caused the FIFO and weighted average cost gross profit fix Gross proft under FIFO and weighted average cost differ because inventory cost decreased ncreased degeased during the pend dec Suppose a Bryant store in Ottawa, Ontano, ended September 2020 with 700,000 units of merchandise that cost an average of 50 each Suppose the store then sold 650.000 units for 50 4 milion during October Further, assume the store made two largo purchases during October as follows Required 1. At October 31, the store manager needs to know the store's gross profit under both FIFO and weighted average cost Supply this domation Bryant uses the periodic inventory system 2. What caused the FIFO and weighted average cost gross prott figures to differ? Gross prote FIFO October 14 23 Requirement 1. At October 31, the store manager needs to know the store's gross profit under both FIFO and weighted average cost Supply this information Bryant uses the persodic inventory vyem (Round all calculations to one decimal place) Millions 170,000 units@ $8-$1,350,000 450 000 units 57 $3150 000 Weighted- Average Cost CHID Gross prof Requirement 2. What caused the FIFO and weighted average cost gross profit figures to differ? Gross pritt under FIFO and weighted average cost differ because inventory costs during the period K Suppose a bryant store in Ottawa, Ontario, ended September 2020 with 700,000 units of mechandon that cost an average of 50 each Suppose the one then soit 650,000 unts for $0 4 milion dumme October Further, assume the store made two large purchases during October as follows October Required 1. At October 31, the store manager needs to know the store's gross proff under both FFO and weighted average cost supply the information fryt uns the periodic inventory ser 2. What caused the FIFO and weighted average cost gross profit gusto differ? Goss prote Requirement 1. At October 31, the store manager needs to know the store's gross peolt under both FSO and weighted average cost Supply this intamation byant coes the periode intory system (Round all calculations to one decimal place) Cost of goods sold Goos profe FFO Millions 650.000 550.000 550 000 14 23 Weighted Average-Cost 6,300 000 170.000 unts@ $0 =$1,300,000 450,000 units $751150 000 Requirement 2. What caused the FIFO and weighted average cost gross profit fix Gross proft under FIFO and weighted average cost differ because inventory cost decreased ncreased degeased during the pend dec
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Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
Posted Date:
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