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Inventory records for Dunbar Incorporated revealed the following

 Inventory records for Dunbar Incorporated revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Apr. 1

Beginning inventory

 

500

 

$2.40

Apr. 20

Purchase

 

400

 

  2.50

 

Dunbar sold 700 units of inventory during the month. Ending inventory assuming FIFO would be:

a. $500.

b. $490.

c. $470.

d. $480.

 

 

63. Inventory records for Dunbar Incorporated revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Apr. 1

Beginning inventory

 

500

 

$2.40

Apr. 20

Purchase

 

400

 

  2.50

 

Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be:

a. $1,730.

b. $1,700.

c. $1,720.

d. $1,710.

 

 

64. Inventory records for Dunbar Incorporated revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Apr. 1

Beginning inventory

 

500

 

$2.40

Apr. 20

Purchase

 

400

 

  2.50

 

Dunbar sold 700 units of inventory during the month. Ending inventory assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):

a. $502.

b. $490.

c. $489.

d. $480.

 

 

65. Inventory records for Dunbar Incorporated revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Apr. 1

Beginning inventory

 

500

 

$2.40

Apr. 20

Purchase

 

400

 

  2.50

 

Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):

a. $1,711.

b. $1,700.

c. $1,720.

d. $1,708.

 

 

66. Inventory records for Marvin Company revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Mar. 1

Beginning inventory

 

1,000

 

$7.20

Mar. 10

Purchase

 

600

 

  7.25

Mar. 16

Purchase

 

800

 

7.30

Mar. 23

Purchase

 

600

 

  7.35

 

Marvin sold 2,300 units of inventory during the month. Ending inventory assuming LIFO would be:

a. $5,040.

b. $5,055.

c. $5,075.

d. $5,135.

 

 

67. Inventory records for Marvin Company revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Mar. 1

Beginning inventory

 

1,000

 

$7.20

Mar. 10

Purchase

 

600

 

  7.25

Mar. 16

Purchase

 

800

 

7.30

Mar. 23

Purchase

 

600

 

  7.35

 

Marvin sold 2,300 units of inventory during the month. Ending inventory assuming FIFO would be:

a. $5,140.

b. $5,080.

c. $5,060.

d. $5,050.

 

 

68. Inventory records for Marvin Company revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Mar. 1

Beginning inventory

 

1,000

 

$7.20

Mar. 10

Purchase

 

600

 

  7.25

Mar. 16

Purchase

 

800

 

7.30

Mar. 23

Purchase

 

600

 

  7.35

 

Marvin sold 2,300 units of inventory during the month. Ending inventory assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):

a. $5,087.

b. $5,107.

c. $5,077.

d. $5,005.

 

 

69. Inventory records for Marvin Company revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Mar. 1

Beginning inventory

 

1,000

 

$7.20

Mar. 10

Purchase

 

600

 

  7.25

Mar. 16

Purchase

 

800

 

7.30

Mar. 23

Purchase

 

600

 

  7.35

 

Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming LIFO would be:

a. $16,800.

b. $16,760.

c. $16,540.

d. $16,660.

 

 

70. Inventory records for Marvin Company revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Mar. 1

Beginning inventory

 

1,000

 

$7.20

Mar. 10

Purchase

 

600

 

  7.25

Mar. 16

Purchase

 

800

 

7.30

Mar. 23

Purchase

 

600

 

  7.35

 

Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming FIFO would be:

a. $16,800.

b. $16,760.

c. $16,540.

d. $16,660.

 

 

71. Inventory records for Marvin Company revealed the following:

 

Date

Transaction

 

Number

of Units

 

Unit

Cost

Mar. 1

Beginning inventory

 

1,000

 

$7.20

Mar. 10

Purchase

 

600

 

  7.25

Mar. 16

Purchase

 

800

 

7.30

Mar. 23

Purchase

 

600

 

  7.35

 

Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):

a. $16,733.

b. $17,408.

c. $16,713.

d. $16,089.

 

 

Jan 27 2020 View more View Less

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