Ames Trading Co. has the following products in its Quantity Cost per Unit $ 600 Product Mountain bikes 11 Skateboards 13 350 Gliders 26 800
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- Black Corporation uses the LIFO cost flow assumption. Each unit of its inventory has a net realizable value of 300, a normal profit margin of 35, and a current replacement cost of 250. Determine the amount per unit that should be used as the market value to apply the lower of cost or market rule to determine Blacks ending inventory.Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
- Calculate the cost of goods sold dollar value for B74 Company for the sale on November 20, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).Ames Trading Co. has the following products in its ending inventory. Product Mountain bikes Skateboards Gliders Quantity Cost per Unit 15 30 29 $710 260 810 Market per Unit $660 290 730 Compute lower of cost or market for inventory applied separately to each product. Per Unit Total LCM applied to Inventory Items Units Cost Market Cost Market each product Mountain bikes Skateboards Gliders
- Ames Trading Company has the following products in its ending inventory. Required: Compute lower of cost or market for inventory applied separately to each product. Inventory Items Mountain bikes Skateboards Gliders Units 11 13 26 Cost Per Unit $600 350 800 Market $550 425 700 Cost Total Market LCM Applied to Each ProductAmes Trading Co. has the following products in its ending inventory. Quantity Cost per Unit Market per Unit 22 $550 18 390 $510 460 680 13 750 Product Mountain bikes Skateboards Gliders Compute lower of cost or market for inventory applied separately to each product. Inventory Items Mountain bikes Skateboards Gliders Units Per Unit Cost Market Cost $ $ Total 0 0 0 0 Market $ 0 0 0 0 LCM applied to each product 0Ames Trading Company has the following products in its ending inventory Cost per Unit Product Mountain bikes. Skateboards Gliders Inventory Items Quantity 12 22 12 Mountain bikes Skateboards Gliders $ 580 330 960 Compute lower of cost or market for inventory applied separately to each product. Units Market per Unit $ 510 370 910 Per Unit Cost Market Cost Total Market LCM applied to each product
- Ames Trading Company has the following products in its ending inventory. Cost per Unit Market per Product Quantity Unit Mountain bikes 20 $ 610 $ 550 Skateboards 21 260 320 Gliders 28 930 900 Compute lower of cost or market for inventory applied separately to each product. Per Unit Total LCM applied to each product Inventory Items Units Cost Market Cost Market Mountain bikes Skateboards GlidersA company has the following products in its ending inventory. Compute lower of cost or market for inventory applied separately to each product Market per Cost per Product Quantity Unit Unit Product A 10 $ 712 $ 682 Product B 15 $ 512 $ 552 Product C 20 $ 662 $ 687 Multiple Choice $1,921. $27,740. $1,886. O $28,040. ว $28,840.Martinez Company's ending inventory includes the following items. ETTT Market per Unit $ 57 75 94 39 Product Units Cost per Unit 25 18 39 43 $ 53 81 98 39 He lmets Bats Shoes Uniforms Compute the lower of cost or market for ending inventory applied separately to each product. Per Unit Total LCM Applied Inventory Items Units Cost Market Cost Market to Items Helmets 25 $ 53 $ 57 Bats 18 81 75 Shoes 39 98 94 Uniforms 43 39 39 %24
