Units Price per Unit Total ** *** *** ******* ***** ********* Beginning Inventory 600 $11 $11.40 $6600 Purchase 10/1 500 $5700 Purchase 10/14 600 $12.50 $7500 Purchase 10/23 800 $13.50 $10800 What is Company's Inventory Available for Sale?
Q: Snyder’s ending inventory using the FIFO method would be:a. $1,500.b. $1,800.c. $7,400.d. $9,200.
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- Inventory Write-Down The following information is taken from Aden Company's records: Product Group Units Cost/Unit Market/Unit A 700 $1.00 $0.80 1 300 1.50 1.55 200 4.90 5.15 2 100 6.50 6.40 80 25.00 24.60 Required: What is the correct inventory value if the company applies the LCNRV rule to each of the following? a. Individual items Product A Product B Product C Product D Product E Total inventory value b. Groups of items Group 1 Group 2 Group 3 Total inventory value c. The inventory as a whole Total inventory value 24 %24 B.The following inventory details of LBC company Date Description Units Cost January 1,2020 Purchases 10 $10 January 10,2020 Purchases 20 $15 January 15,2020 Sales 25 January 25, Purchases 2020 30 $20 January 31,2020 Sales 20 By Perpetual Inventory System, calculate: Cost of Goods Sold and Cost of Ending Inventory under 1. FIFO 2. Average CostInventory Write-Down The following information is taken from Aden Company's records: Product Group Units Cost/Unit Market/Unit A 1 600 $1.10 $0.90 B 1. 250 1.50 1.55 200 4.90 5.15 D. 100 6.50 6.40 3 80 25.00 24.60 Required: What is the correct inventory value if the company applies the LCNRV rule to each of the following? a. Individual items Product A 540 Product B 450 x Product C 980 Product D 640 Product E 1,968 V Total inventory value 4,578 x b. Groups of items Group 1 1,005 x Group 2 1,630 Group 3 1,968 Total inventory value 4,603 x c. The inventory as a whole Total inventory value 4,643 x %24 %24 %24 %24
- Calculate the following: Company A Mark - up 25 percent Sales N$ 12 500 Inventory 01.04.2020 N$ 4 500 inventory 31.03.2021 N$ 3 800 Calculate: Gross Profit, Purchases and Cost of Sale. Company B Margin 20 Percent Purchases N$ 22 400 Inventory 01.06.2020 N$ 8 700 Inventory 31.05.2021 N$ 5 100 Calculate : Gross Profit, Sales and Cost of Sale. Company C Sale N$ 54 500 Gross Profit N$ 12 000 Calculate: Percentage Mark-up, Margin and amount of Cost of SaleWhich of the following items will be included in the inventory note?Itrading inventory of R58900 II trading inventory of R62490 III stationary on hand R60 IV Stationary expense A.i and ii B.ii and iv C.ii and iii D.All of the aboveDeere and Company reported inventory in its balance sheet as follows. Inventories00000000000$1,999,100,000 What additional disclosures might be necessary to present the inventory fairly?
- At what figure should the inventory be valued? *a. P 880,000b. P 760,000c. P 980,000d. P 940,000Inventory Write-Down The following information for Tuell Company is available: Case 1 2 4 5 Cost $5.00 $5.00 $5.00 $5.00 $5.00 Net realizable value 5.10 5.50 4.80 4.30 4.75 Net realizable value less normal profit 4.80 5.40 4.70 4.00 4.60 Replacement cost 5.30 5.30 4.60 4.15 4.80 Required: 1. Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent. Inventory Case value 1 2 3 $4 4 $ 5 $ 2. Assume Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent. Inventory Case value 1. 2$ 3 $ 4 2$ 3. Assume that Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations if Tuell uses IFRS? If required, round your answers to the nearest cent.Inventory Write-Down The following information for Tuell Company is available: Case 2 4 5 Cost $5.00 $5.00 $5.00 $5.00 $5.00 Net realizable value 5.20 5.50 4.90 4.30 4.7O Net realizable value less normal profit 4.90 5.30 4.80 4.00 4.60 Replacement cost 5.30 5.20 4.60 4.15 4.80 Required: 1. Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U.s. GAAP? If required, round your answers to the nearest cent. Inventory Case value 1 24 2. 24 3 4 5 2. Assume Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent. Inventory Case value 1 24 3 4 2$ 5 $4 3. Assume that Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations if Tuell uses IFRS? If required, round your answers to the nearest cent. Inventory…
- Determine the amount of inventory to be reported in the Statement of Financial Position a. P 240,000 b. P 630,000 c. P 870,000 d. P 930,000DATE DETAILS UNITS COST PER UNIT 1 OPENING INVENTORY 20 R85 7 Purchases 23 R90 16 Purchases 33 R95 25 Purchases 18 R100 31 Sales for the month 69 Calculate the value of closing inventory using the Weighted average cost inventory valuationmethod.45 Calculate gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and Return inwards OMR 5000. t of O a. OMR 10000 stion O b. OMR 15000 O c. OMR 5000 O d. OMR 45000 In which of the following Inventory techniques are the 立