Business, 07.06.2020 04:59, asapjvzz8786
Periodic Inventory by Three Methods The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31, are as follows: Number Date Transaction Per Unit Total of Units Jan. 1 Inventory 7,500 $75.00 $562,500 10 Purchase 22,500 85.00 1,912,500 11,250 150.00 1,687,500 3,750 150.00 562,500 1,500 150.00 225,000 10 Purchase 54,000 87.50 4,725,000 27,000 160.00 4,320,000 25,500 160.00 4,080,000 Mar. 5 Purchase 45,000 89.50 4,027,500 30,000 160.00 4,800,000 25 Purchase 7,500 90.00 675,000 26,250 160.00 4,200,000 28 Sale 30 Sale Feb. 5 Sale 16 Sale 28 Sale 14 Sale 30 Sale Required: 1. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the first- in, first-out method and the periodic inventory system. Merchandise inventory, March 31 Cost of merchandise sold 2. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the last- in, first-out method and the periodic inventory system. Merchandise inventory, March 31 Cost of merchandise sold 3. Determine the inventory on March 31 and the cost of merchandise sold for the three month period, using the weighted average cost method and the periodic inventory system. Round the weighted average unit cost to the nearest cent and final answers to the nearest dollar. Merchandise inventory, March 31 Cost of merchandise sold 4. Compare the gross profit and the March 31 inventories, using the following column headings. Enter all amounts as positive numbers. 8 FIFO LIFO Weighted Averag Sales
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 03:30, skylar1315
Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars
Answers: 1
Business, 22.06.2019 08:20, cbrewer37
(05.04 mc) a 2012 report from the u. s. surgeon general stated: "another common practice is strategically locating tobacco-related marketing materials where young children will be exposed to them. tobacco industry executives acknowledge that products and advertising should be placed at eye level (pollay 2007), but in california, 48% of stores had at least one cigarette marketing item at or below 3 feet from the floor (feighery et al. 2001)." it was also noted that 25% of cigarette displays were next to candy. in addition, a national study found that about one-third of the stores had tobacco ads at low heights. after california banned counter displays, some stores place cigarettes in transparent displays so product brands could still be seen. why did some stores use transparent units to display the cigarettes? (3 points) to comply with the new rules while still encouraging cigarette purchases via visual exposure to ensure children and minors are not exposed to cigarettes and their eye-catching packaging to minimize exposure to humidity, extending the shelf life of the cigarettes' tobacco to reduce the occurrence of shoplifting, since cigarettes are high-revenue items
Answers: 3
Business, 22.06.2019 11:00, cranfordjacori
The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.
Answers: 2
Do you know the correct answer?
Periodic Inventory by Three Methods The beginning inventory at Midnight Supplies and data on purchas...
Questions in other subjects:
Mathematics, 04.03.2020 19:06
Mathematics, 04.03.2020 19:07
