hat the answer for 4-5 I had got 35,000 for number 4 and it’s was wrong. I had got 705,000 for number 5 and it’s wrong
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- ( Appendix 6B) Refer to the information for Morgan Inc. above. If Morgan uses a periodic inventory system, what is the cost of goods sold under FIFO at April 30? a. $32,800 b. $38,400 c. $63,600 d. $69,20016. Use the following information to calculate inventory applying LCNRV by item: Recorded cost $12 $22 $17 $42 $32 $18 Еxpected sales price $16 $24 $19 Disposal Costs $2 $5 Item A Item B Item C $2 Item D $60 $40 $6 Item E $6 Item F $24 $7om/im/takeAssighmeny take rogress-tiue Applying the lower of cost or market to each item of inventory, what should the total inventory value be for the following items? Market Inventory Cost per Value per Total Total Item Quantity Unit Unit Cost Market A 300 $15.00 $14.50 $4,500 $4,350 В 200 $14.00 $15.00 $2,800 $3,000 100 $17.00 $17.50 $1,700 $1,750 a. $8,850 Оь. 59,000 Oc. $9,100 Od. $9,250 Previous Next>
- Use the following to answer questions 1 – 6 Case 1 Case 2| Case 3 Case 4 Beginning inventory $20,000|$85,000 $45,600 Ending inventory Purchases ? 65,000 | 66,000 | 36,500 400,000 ? 758,000 614,000 Cost of goods sold 385,000 725,000| ? 595,000 1. $ For case 1, determine goods available for sale 2. $ For 1, determine ending case inventory 3. $ For case 2, determine goods available for sale 4. $ For case 2, determine Purchases 5. $ For case 3, determine cost of goods sold 6. $ For case 4, determine beginning inventoryWhat is the ending inventory at estimated cost using the First-in, First-out inventory method? A. 240,000 B. 320,000 C. 224,000 D. 256,000Required information E Ending inventory Cost of goods available for sale $ 1:33 1:33 R Knowledge Check 01 A company has beginning inventory of $20,000, purchases of $15,000, and ending inventory of $2,500. The cost of goods available for sale is % available for sale 5 T + 6 Y Cost of goods sold O ➤ 11 O P
- Using the lower of cost or market, what should the total inventory value be for the following items: Item Quantity Unit cost price Unit market price Total cost price Total market price A 200 $15 $14.50 $3,000 $2,900 B 100 $14 $15.00 $1,400 $1,500 C 50 $17 $17.50 $850 $875Preview File Edit View Go Tools Window Help V mgt120h-j17.pdf Page 5 of 10 przy:wwwv=j-zlatykyvvw.vivvvitiete a. 6 b. 7 c. 14 d. 16 C Ơ ● ₁ CC V 7. If average inventory was $80,000, sales were $560,000, and cost of goods sold were $480,000 what would be the inventory turnover? Search ((. Ơ Sat Apr 15 2:53 PMPROBLEM 2Determine the missing elements of the Income Statement. Replace the letters with your answers.The partial income statements of five different companies are as follows: 12345 Net SalesAD250,000290,000400,000 Merchandise Inventory, 1/1/2020B50,00070,000J120,000 Net Cost of Purchases80,000EG160,000390,000 Goods Available for Sale110,000160,000HKM Merchandise Inventory, 1/1/202040,000F30,00070,000N Cost of Goods SoldC140,000230,000L380,000 Gross Profit50,00040,000I160,000O
- Question 1 Inventory 1. A. Raytheon inventory information is as follows: o Beginning inventory (1/1/19): 200 units @ $1.00 o Purchase of inventory (1/14/19): 400 units @ $4.00 o Sale of inventory: 1/15/19: 300 units 1/16/19: 250 units o Total Sales Revenue = $2,250 Q1. Using the information above, compute COGS, Ending Inventory and Gross Profit under FIFO, LIFO, and Weighted average:* CerqageNOWv2| Online teachin * CengageNowv2 | Online teachir x +. agenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre.. * O eBook 4 Show Me How Inventory Analysis A company reports the following: Cost of goods sold $262,800 Average inventory 52,560 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days Next Check My Work 11:14. 64°F Sunny 12/3/2 brt sc deete个 Given the following data, calculate the cost of ending inventory using the average cost method. (Round any intermediary and final answers to two decimal places) Date 1/1 3/5 5/30 12/31 Item Beginning inventory Purchase of inventory Purchase of inventory Ending inventory OA. $351 30 OB. $420.00 OC. $330.00 OD. $300.00 Unit 60 units at $10 per unit 30 units at $10 per unit 15 units at $22 per unit 30 units