please answer all!
A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $45.20, 18 pairs at $40.20, and 20 pairs at $50.20. An inventory taken last week indicates that 25 pairs are still in stock. Calculate the cost of this inventory by FIFO.
Cost of ending inventory $
Comcast lost 135,000 customers in the last quarter of 2010 due to the economic challenges presented by the recession. Business improved in the last quarter of 2011 when it lost only 17,000 customers and things are looking up for 2012. Assume Comcast is upgrading its cable boxes and has 570 obsolete boxes in ending inventory.
Beginning inventory and purchases Boxes Box cost Total cost Beginning inventory: January 1 16,200 $ 22 $ 356,400 March 1 7,200 23 165,600 June 1 3,200 27 86,400 September 1 1,850 30 55,500 December 1 1,100 39 42,900 29,550 $ 706,800
What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.)
Ending inventory FIFO $ LIFO $ Weighted-average $
c.
BillFloat, based in San Francisco, California, will pay any of your qualifying bills and then automatically deduct the amount of the bill plus fees and interest from your bank account within 30 days. The company registered 190,000 users in 2011 and made 80,000 loans averaging $160 each with rates up to 36% APR, not including fees. Assume BillFloat wants to distribute $57,000 worth of overhead by sales.
New customer sales (NCS) $ 5,600,000 Current customer new sales (CCNS) 4,900,000 Current customer loan extension sales (CCLES) 3,500,000 $ 14,000,000
Calculate the overhead expense for each department.
Overhead expense New customer sales $ Current customer new sales $ Current customer loan extension sales $
Marvin Company has a beginning inventory of 12 sets of paints at a cost of $2.00 each. During the year, the store purchased 4 sets at $2.10, 6 sets at $2.70, 6 sets at $3.00, and 10 sets at $3.50. By the end of the year, 25 sets were sold.
a. Calculate the number of paint sets in ending inventory.
Number of paint sets
b. Calculate the cost of ending inventory under LIFO, FIFO, and the weighted average methods. (Round your answers to the nearest cent.)
Cost of ending inventory under LIFO $ Cost of ending inventory under FIFO $ Cost of ending inventory under Weighted Average $
| please answer all! A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $45.20, 18 pairs at $40.20, and 20 pairs at $50.20. An inventory taken last week indicates that 25 pairs are still in stock. Calculate the cost of this inventory by FIFO. |
| Cost of ending inventory | $ |
| Comcast lost 135,000 customers in the last quarter of 2010 due to the economic challenges presented by the recession. Business improved in the last quarter of 2011 when it lost only 17,000 customers and things are looking up for 2012. Assume Comcast is upgrading its cable boxes and has 570 obsolete boxes in ending inventory. |
| Beginning inventory and purchases | Boxes | Box cost | Total cost | ||||||
| Beginning inventory: January 1 | 16,200 | $ | 22 | $ | 356,400 | ||||
| March 1 | 7,200 | 23 | 165,600 | ||||||
| June 1 | 3,200 | 27 | 86,400 | ||||||
| September 1 | 1,850 | 30 | 55,500 | ||||||
| December 1 | 1,100 | 39 | 42,900 | ||||||
| 29,550 | $ | 706,800 | |||||||
| What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) |
| Ending inventory | |
| FIFO | $ |
| LIFO | $ |
| Weighted-average | $ |
c.
| BillFloat, based in San Francisco, California, will pay any of your qualifying bills and then automatically deduct the amount of the bill plus fees and interest from your bank account within 30 days. The company registered 190,000 users in 2011 and made 80,000 loans averaging $160 each with rates up to 36% APR, not including fees. Assume BillFloat wants to distribute $57,000 worth of overhead by sales. |
| New customer sales (NCS) | $ | 5,600,000 | |
| Current customer new sales (CCNS) | 4,900,000 | ||
| Current customer loan extension sales (CCLES) | 3,500,000 | ||
| $ | 14,000,000 | ||
| Calculate the overhead expense for each department. |
| Overhead expense | |
| New customer sales | $ |
| Current customer new sales | $ |
| Current customer loan extension sales | $ |
| Marvin Company has a beginning inventory of 12 sets of paints at a cost of $2.00 each. During the year, the store purchased 4 sets at $2.10, 6 sets at $2.70, 6 sets at $3.00, and 10 sets at $3.50. By the end of the year, 25 sets were sold. |
| a. | Calculate the number of paint sets in ending inventory. |
| Number of paint sets |
| b. | Calculate the cost of ending inventory under LIFO, FIFO, and the weighted average methods. (Round your answers to the nearest cent.) |
| Cost of ending inventory under LIFO | $ |
| Cost of ending inventory under FIFO | $ |
| Cost of ending inventory under Weighted Average | $ |
