Given the following data what is the average cost cost of ending inventory

Given the following data what is the average cost

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58.Given the following data, what is the average cost cost of ending inventory rounded to the nearest whole dollar?Sales revenue100units at$10per unitBeginning inventory50units at$ 8per unitPurchases90 units at$ 9per unit a) $400b) $360c)$1,210d) $346 59.Given the following data, what is the gross profit if cost of goods sold is determined using the FIFO method?Sales revenue200units at$20per unitBeginning inventory60units at$12per unitPurchases210units at$13per unit
60.Given the following data, what is the gross profit if cost of goods sold is determined using the LIFO method?Sales revenue200units at$20per unitBeginning inventory60units at$12per unitPurchases210units at$13per unit a) $2,600b) $1,400c)$1,460d) $1,600 61.Given the following data, what is the gross profit if cost of goods sold is determined using the average cost method?Sales revenue200units at$20per unitBeginning inventory60units at$12per unitPurchases210units at$13per unit
62.Referring to Table 5, the cost of ending inventory using the periodic LIFO method would be: a) $1,910b) $860c)$750d) $850cL.O. 4ModeratePage: 257 63.Referring to Table 5, cost of goods sold calculated under the periodic FIFO method would be: aL.O. 4DifficultPage: 257 64.Referring to Table 5, assuming all goods are sold throughout the year for $17 per unit, gross profit calculated under the periodic FIFO method would be: bL.O. 4DifficultPage: 257 65.Referring to Table 5, assuming all goods are sold throughout the year for $19 per unit, gross profit calculated under the periodic LIFO method would be: aL.O. 4DifficultPage: 257 66.Which statement addresses the consistency principle? a)Businesses should generally use the same accounting methods and procedures from one period to the next.b)Financial reporting practices in one country should be consistent with those in other countries.c)Companies in the same industry must use the same inventory costing method to facilitate comparison of results. d) Once a company selects an inventory costing method, it must always use that method.

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