Rifle Co. had the following inventory information available: Date Transactions Purchases Sales Units Unit Cost Units 1 Sep Beginning inventory 300 $100 3 Sep Purchases 100 $84 5 Sep Sales 250 10 Sep Purchases 250 $80 15 Sep Sales 200 20 Sep Purchases 250 $76 28 Sep Sales 150 Assume that the company uses LIFO method under the periodic inventory system to estimate cost of goods sold, please calculate the amount of ending inventory at the end of September

Cost of goods sold and inventory (24 marks) Rifle Co. had the following inventory information available: Date Transactions Purchases Sales Units Unit Cost Units 1 Sep Beginning inventory 300 $100 3 Sep Purchases 100 $84 5 Sep Sales 250 10 Sep Purchases 250 $80 15 Sep Sales 200 20 Sep Purchases 250 $76 28 Sep Sales 150 (Q1-A). Assume that the company uses LIFO method under the perpetual inventory system to estimate cost of goods sold, please calculate the cost of sale for the month of September

Rifle Co. had the following inventory information available: Date Transactions Purchases Sales Units Unit Cost Units 1 Sep Beginning inventory 300 $100 3 Sep Purchases 100 $84 5 Sep Sales 250 10 Sep Purchases 250 $80 15 Sep Sales 200 20 Sep Purchases 250 $76 28 Sep Sales 150 Assume that the company uses Average Cost method under the periodic inventory system to estimate cost of goods sold, please calculate the amount of ending inventory at the end of September

A company's inventory records report the following in November of the current year: Date Activities Units Acquired at Cost Units Sold at RetailNovember 1 Beginning inventory 5 units @ $28 = $140  November 2 Purchase 10 units @ $30 = $300  November 8 Sales   12 units @ $62November 12 Purchase 6 units @ $33 = $198  Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold?Multiple Choice$334$356$378$244$282

A company's inventory records indicate the following data for the month of January: Date Activities Units Acquired at Cost Units Sold at RetailJanuary 1 Beginning inventory 530 units @ $18 = $9,540  January 8 Purchase 510 units @ $20 = $10,200  January 12 Sale   940 units @ $70January 17 Purchase 570 units @ $22 = $12,540  January 23 Sale   385 units @ $70January 28 Purchase 630 units @ $24 = $15,120  If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory?Multiple Choice$8,470.$20,990.$19,790.$25,300.$26,410.

Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method.Beginning inventory$15,860Ending inventory18,300Current assets73,444Current liabilities85,400Cost of goods sold203,252Sales revenue217,160(a)Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.)Inventory Turnoverenter a number of times rounded to 1 decimal place timesDays in Inventoryenter a number of days rounded to 1 decimal place days