A-1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions.DateJanuary 1February 10March 13Units Acquired at Cost600 units @ $45 per unit400 units @ $42 per unit200 units @ $27 per unitMarch 15August 21September 5September 10 SalesTotalsActivitiesBeginning inventoryPurchasePurchaseSalesPurchasePurchaseCost of goods available for saleNumber of units available for sale100 units @ $50 per unit500 units @ $46 per unit1,800 units2. Compute the number of units in ending inventory.Ending inventoryRequired:1. Compute cost of goods available for sale and the number of units available for sale.unitsUnits Sold at Retailunits800 units @ $75 per unit600 units @ $75 per unit1,400 units

Name: A-1 Montoure Company uses a perpetual inventory system. It entered int
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Description: A-1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions.DateJanuary 1February 10March 13Units Acquired at Cost600 units @ $45 per unit400 units @ $42 per unit200 units @ $27

The cost which has been incurred on goods that are available for sale is known as cost of goods…

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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Date January 1 February 10 March 13 March 15 August 21 Units Acquired at Cost 600 units @ $45 per unit 400 units @ $42 per unit 200 units @ $27 per unit Activities Beginning inventory Purchase Purchase Sales Purchase Purchase September 5 September 10 Sales Totals Cost of goods available for sale Number of units available for sale 100 units @ $50 per unit 500 units @ $46 per unit 1,800 units Ending inventory 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. units units 800 units @ $75 per unit 600 units @ $75 per unit 1,400 units

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Date January 1 February 10 March 13 March 15 August 21 Units Acquired at Cost 600 units @ $45 per unit 400 units @ $42 per unit 200 units @ $27 per unit Activities Beginning inventory Purchase Purchase Sales Purchase Purchase September 5 September 10 Sales Totals Cost of goods available for sale Number of units available for sale 100 units @ $50 per unit 500 units @ $46 per unit 1,800 units Ending inventory 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. units units 800 units @ $75 per unit 600 units @ $75 per unit 1,400 units

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 9RE: RE7-8 Johnson Company uses a perpetual inventory system. On October 23, Johnson purchased 100,000 of...

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