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

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

Assuming the periodic inventory method is used for the current year, the following data were taken from the accounting records:Sales                                                   $900,000Sales returns and allowances              $  30,000Purchases                                            $500,000Purchase returns and allowances        $    8,000Discount received                               $    4,000Freight-in                                            $    2,000Beginning inventory                           $  90,000Ending inventory                                $130,000What was the cost of goods available for sale?

A company's inventory records report the following: Date Activities Units Acquired at Cost Units Sold at RetailAugust 1 Beginning inventory 15 units @ $38 = $570  August 5 Purchase 10 units @ $39 = $390  August 12 Purchase 20 units @ $40 = $800  August 15 Sales   30 units soldUsing the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?Multiple Choice$400$290$600$1,160$1,760

An entity just starting business made the following four inventory purchases in June:            June     1          150 units                     $1,500            June     10        130 units                       1,170            June     15        90 units                         1,260            June     23        110 units                          990                                                                        $4,920A physical count of inventory on June 30 reveals that there are 20 units on hand. Using the weighted average cost method the amount allocated to the ending inventory on June 30 is:Question 5Answera.$205b.$180c.$220d.$200

Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an item available for sale during the year were as follows: Date Line Item Description Units Cost per Unit Amount Jan. 1 Inventory 16 units at $34 $544 Aug. 13 Purchase 7 units at $36 252 Nov. 30 Purchase 7 units at $37 259 Available for sale 30 units $1,055 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar).