Table 2 assume the following data for smithsonian

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Question 12
Table 2Assume the following data forSmithsonian Company for 20X5:Beginning inventory10 units at $70eachMarch 18 sale8 unitsJune 10 purchase20 units at $80eachOctober 30 sale15 unitsReferring to Table 2, under the perpetual weighted average cost method,cost of goods sold on the income statement would be_______. $1,186 $1,600 $560 $1,746 Correct! Correct! 1 / 1 pts Question 13 Table 2Assume the following data forSmithsonian Company for 20X5:
Beginning inventory10 units at $70eachMarch 18 sale8 unitsJune 10 purchase20 units at $80eachOctober 30 sale15 unitsReferring to Table 2, under the perpetual FIFO method, cost of goods sold onthe income statement would be_______. Correct! 1 / 1 pts Question 14 Table 1Assume the following data forBurnette Company for 20X5:Beginning inventory10 units at $7eachMarch 18 purchase15 units at $9each
April 5 sale12 unitsJune 10 purchase20 units at$10 eachSeptember 15 sale30 units12 units at$11 eachRefer to Table 1. Under the perpetual LIFO method, ending inventory wouldbe valued at_______. Correct! Correct! 1 / 1 ptsQuestion 15Which of the following processes/concepts does NOT apply under bothinternational financial reporting standards and accounting standards forprivate enterprises?
Correct! Quiz Score: 14 out of 15

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