The inventory transactions of Green Products Incorporated are shown below. Date Transaction Number of Units Unit CostJanuary 1 Beginning inventory 500 $5May 15 Purchase 1,000 6June 10 Purchase 500 7October 25 Purchase 2,000 8Units sold during the year: 3,000What is the amount of cost of goods sold that Green Products will report in its income statement for the current year, if it uses the last-in, first-out cost method?

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

What is the total inventory-related cost per year? (Note: you need to compute the totalannual ordering costs and annual carrying costs)

The following information was obtained from the accounting records of Letty Stores for the financial year ended 30 June 2021: RInventory (1 July 2020)100 000Sales600 000Purchases400 000Sales returns2 000Purchases returns3 000Drawings: Bank1 000Inventory (30 June 2021)120 000Additional information: 1. On 29 June 2021, the owner took inventory with a cost price of R20 000 for own use. This transaction has not yet been recorded.The entity uses the periodic inventory control system. Required:Use the information provided above to calculate the cost of sales for the year ended 30 June 2021.NB: Instructions1. Use a full stop to indicate any decimals (eg: 1000.01)2. Only show the amount, do not show the R (eg: 12141.72)3. If the total amount calculated is a loss, please enter the amount as a negative (eg: -12141.72), if the amount calculated is a profit, please enter the amount as a positive (eg: 12141.72)Answer:

During its first month of operations, a manufacturer incurs the following costs (in dollars) related to activities within its factory:Direct materials $15,000Direct labor $30,000Manufacturing overhead $40,000What amount should be reported as cost of goods sold on the income statement if 5,000 units are produced and 4,000 are sold? $56,000 $68,000 $70,000 $85,000