18. Blue Inc. Utilizes a Periodic LIFO inventory method.They make the following purchases and sales.
August 3rd: Purchases 100 units at $20 perunit
August 10th: Purchases 150 units at $25 perunit
August 15th: Sells 125 units at $45 perunit
August 23rd: Purchases 50 units at $35 perunit
August 30th: Sells 75 units at $55 per unit
What is the value of Blue Inc. inventory at the end ofAugust assuming they started with no inventory?
$2,000
$3,000
$8,000
$2,500
Question 2
19. Red Corp. utilizes a periodic FIFO inventory method.They make the following purchases and sales
January 7th: Purchases 3,000 units at $50 perunit
January 10th: Sells 100 units at $75 perunit
January 15th: Purchases 175 units at $60 perunit
January 22nd: Sells 250 Units at $85 perunit
January 26th: Sells 50 units at $95 perunit
What was COGS for Red Corp during the month of januaryassuming they started with no inventory?
$4,500
$ 21,000
$21,750
$33,500
Question 3
20. Orange LLC. utilizes a periodic weighted averageinventory method. They make the following purchases andsales
May 2nd: Purchases 100 units at $15 perunit
May 7th: Sells 75 units at $35 per unit
May 12th: Purchases 125 units at $25 perunit
May 25th: Sells 75 units at $45 per unit
What was Orange LLC. COGS for the month of may assumingthey did not have any initial inventory?
$2,569.44
$ 4,111.11
$ 4,625.00
$3.083.33
Question 4
22. Pink Co. purchases 40 units of inventory at $50 perunit. After having the inventory on hand for a period of time, theyfind the Net Realizable value of each unit to be $65 . What willPink Co. record for the total value of the inventory?
$600
$ 2,000
$ 3,250
$2,600
