acc chapt6

# acc chapt6 - Chapter 6 Problem 1 1 Beginning inventory...

This preview shows pages 1–2. Sign up to view the full content.

Chapter 6 Problem 1 1 . Units Cost Amount Beginning inventory 130 56 \$7,280 February 225 62 \$13,950 April 350 65 \$22,750 June 700 70 \$49,000 August 300 66 \$19,800 October 400 68 \$27,200 November 250 72 \$18,000 2,355 \$157,980 2 . A/ Ending inventory: 155 x \$67.08 = 10,397 Sales \$352,000 Cost of good sold Cost of goods available \$157,980 Ending inventory 10,397 Cost of good sold 147,583 Gross margin 204,417 Selling and administrative expenses \$101,000 Income before income taxes \$103,417 B/ Ending inventory: 155 x \$72 = \$11,160 Sales \$352,000 Cost of good sold Cost of goods available \$157,980 Ending inventory 11,160 Cost of good sold \$146,820 Gross margin \$205,180 Selling and administrative expenses \$101,000 Income before income taxes \$104,180 C/ Ending inventory: 130 x \$56 = \$7,280 25 x \$62 = \$1,550 Sales \$352,000 Cost of good sold Cost of goods available \$157,980 Ending inventory 8,830 Cost of good sold \$149,150 Gross margin \$202,850 Selling and administrative expenses \$101,000

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 7

acc chapt6 - Chapter 6 Problem 1 1 Beginning inventory...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online