Monty Corporation is a multi-product firm. The following information concerns one of its products, the Trinton: Price/ Date Transaction Quantity Cost Jan. 1 Beginning inventory 2,000 $14 Feb. 4 Purchase 2,880 16 Feb. 20 Sale 3,340 32 Apr. 2 Purchase 4,080 21 Nov. 4 Sale 3,000 36 (a) X Your answer is incorrect. Calculate cost of goods sold, assuming Monty uses a periodic inventory system and FIFO cost formula.
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- Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 4/2 11/4 Transaction 2/20 Sale (a) Beginning inventory Purchase Purchase Sale Quantity Price/Cost 2,800 Your answer is incorrect. 3,800 eTextbook and Media 4,300 4,800 4,000 Weighted-average cost per unit $ $17 26 43 33 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 48Choose the letter of the correct answer and pls provide solution thanks Determine the sales or cost of good sold of a firm given the following information: Current ratio = 1.4; Acid-test Ratio = 1.2; Current Liabilities = P1,600.00; Inventory Turnover ratio = 8 a. P1,260.00b. P1,560.00c. P2,260.00d. P2,560.00e. P3,260.00ag2 of 16)- Google Chronme edu.om/mod/quiz/attempt.php?attempt=D18933338&cmid%3D891193&page=D1 NING SYSTEM (ACADEMIC) gerial Accounting - Spring21 Time left 1:53:58 When performing sales mix analysis, which one of the following is true: The sales mix is usually assumed to change. O b. Normally the calculation of the breakeven point for multiproduct is much simpler than that for a single product. O c. Making changes to the sales mix will likely cause no change in the breakeven point O d. Shifting the sales mix to the product with a lower contribution maigin will likely increase the overall contribution margin O e. Producing and selling more units of the product with a higher contribution margin would likely decrease the breakeven point Which of the following statements related to CVP chart is not true? O a. None of the given answers. O b. The slope of the total cost line determines the variable cost per unit. Oc. The high-low method is a way to estimate the cost behavior by graphically…
- Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,000 $12 2/4 Purchase 2,000 18 2/20 Sale 2,500 30 4/2 Purchase 3,000 23 11/4 Sale 2,200 33 Instructions Compute cost of goods sold, assuming Ehlo uses: a. Periodic system, FIFO cost flow. b. Perpetual system, FIFO cost flow. c. Periodic system, LIFO cost flow. d. Perpetual system, LIFO cost flow. e. Periodic system, weighted-average cost flow. f. Perpetual system, moving-average cost flow.Bonita Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,900 $15 2/4 Purchase 2,900 23 2/20 Sale 3,400 38 4/2 Purchase 3,900 29 11/4 Sale 3,100 42 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit $ Compute cost of goods sold, assuming Bonita uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.) Cost of goods sold (a) Periodic system, FIFO cost flow $ (b) Perpetual system, FIFO cost flow $ (c) Periodic system, LIFO cost flow $ (d) Perpetual system, LIFO cost flow $ (e) Periodic system, weighted-average cost flow $ (f) Perpetual system, moving-average cost flow $locs.google.com/forms/d/e/1FAlpQLSdhx7wkRBg-SysLm-AeX919m2L5F4)xzbwov4D68WUmofzSg/formResponse?pli=1 1. Gross profit margin is impacted by sales and cost of goods sold changes." O A) True O B) False 2. The income statement comes in only one basic formats, the multiple-step which is used to analyze the financial performance of the company. * O A) True O B) False 3. Gross profit margin and operating profit margin are complements of each other and the two percentages add up to 100%.* O A) True O B) False 9.58 AM Borrowing mone for short term period is a financingLcash outflow. O d0 ENG 22-Dec-2021 TOSHIBA
- P8.6 (LO 3) (Compute FIFO, LIFO, Average-Cost—Periodic and Perpetual) Ehlo Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,000 $12 2/4 Purchase 2,000 18 2/20 Sale 2,500 30 4/2 Purchase 3,000 23 11/4 Sale 2,200 33 Instructions Compute ending inventory AND cost of goods sold, assuming Ehlo uses: Perpetual system, LIFO cost flow. Periodic system, weighted-average cost flow. Perpetual system, moving-average cost flow.Splish Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 2/20 4/2 11/4 (a) Transaction Beginning inventory Purchase Sale Purchase Sale Quantity Price/Cost Average-cost per unit $ 3,400 4,400 4,900 5,400 4,600 $19 28 47 36 51 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)Suppose that Ivanhoe Depot developed the following information about its inventories in applying the lower-of-cost-or-net- realizable-value (LCNRV) basis in valuing inventories: Product A B C Cost $119000 83000 166000 NRV $125000 79000 168000 After Ivanhoe Depot applies the LCNRV rule, the value of the inventory reported on the balance sheet will be $368000. O $364000. O $372000. O $376000.
- Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 5,300 $25 2/4 Purchase 5,100 27 7,250 5,250 4,100 8,200 2/20 Sale 4/2 Purchase 7/17 Purchase 11/4 Sale 28 30 Compute cost of goods sold, assuming Ehlo uses: (a) Periodic system, FIFO cost flow (b) Perpetual system, FIFO cost flow (c) Periodic system, LIFO cost flow (d) Perpetual system, LIFO cost flow (e) Periodic system, weighted-average cost flow (f) Perpetual system, moving-average cost flow Cost of goods sold tA LA ta LA LA ASunland Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Cost Market A $109000 $115000 B 77000 73000 C 154000 156000 If Sunland Company applies the LCM basis, the value of the inventory reported on the balance sheet would be a.) $336000. b.) $344000. c.) $340000. d.) $348000.The following information is given for Gator Company, who uses the FIFO method. Item Quantity Cost NetRealizableValue ReplacementCost NRVMinusNormalProfit 1 1 $17.70 $24.60 $18.00 $17.10 2 1 10.80 8.28 9.30 5.58 3 1 72.00 64.80 67.20 57.60 4 1 4.80 3.12 2.88 2.64 5 1 12.00 12.30 12.60 11.10 6 1 48.00 45.60 38.40 40.80 Required: a. Determine the lower of cost or net realizable value for each inventory item for Gator Company. Item 1 2 3 4 5 6 b. Determine the lower of cost or net realizable value for Gator Company's inventory if the lower of cost or net realizable value rule is applied to the total inventory.$_______