Text Questions Chapter 9 -10

Text Questions Chapter 9 -10 - Text Questions Chapter 9...

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Unformatted text preview: Text Questions Chapter 9 & 10 University of Phoenix ACC/422 Instructor: Steven Sanders By Scott Ward Ch. 9: Exercise E9-1 Part No. Quantity Cost per Unit Cost to Replace per Unit total lesser 110 600 $90 $100 54,000 60,000 54,000 111 1,000 60 52 60,000 52,000 52,000 112 500 80 76 40,000 38,000 38,000 113 200 170 180 34,000 36,000 34,000 120 400 205 208 82,000 83,200 82,000 121 1,600 16 14 25,600 320 320 122 300 240 235 72,000 70,500 70,500 367,600 340,020 330,820 A) 330,820 B) 340,020 Ch. 9: Exercise E9-12 A) Inventory, May 1 (at cost) $160,000 Purchases (at cost) 640,000 Purchase discounts (12,000) Freight-in 30,000 Goods available (at cost) 818,000 Sales (at selling price) $1,000,000 Sales returns (at selling price) (70,000) Net sales (at selling price) 930,000 Less: Gross profit (30% of $930,000) 279,000 Sales (at cost) 651,000 Approximate inventory, May 31 (at cost) $167,000 B) Inventory, May 1 (at cost) $160,000 Purchases (at cost) 640,000 Purchase discounts (12,000) Freight-in 30,000...
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Text Questions Chapter 9 -10 - Text Questions Chapter 9...

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