64. A companys inventory records report the following: August 1...
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64. A companys inventory records report the following:
August 1
Beginning balance
18 units @ $8
August 5
Purchase
13 units @ $7
August 12
Purchase
17 units @ $8
On August 15, it sold 36 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?
66. A company had the following purchases during its first year of operations:
Purchases
January:
11 units at $121
February:
21 units at $131
May:
16 units at $141
September:
13 units at $151
November:
11 units at $161
On December 31, there were 31 units remaining in ending inventory. These 31 units consisted of 3 from January, 5 from February, 7 from May, 5 from September, and 11 from November. Using the specific identification method, what is the cost of the ending inventory?
71. Beckenworth had cost of goods sold of $10,321 million, ending inventory of $2,989 million, and average inventory of $2,055 million. Its days' sales in inventory equals: (Use 365 days a year.)
72. Jammer Company uses a weighted average perpetual inventory system and reports the following:
August 2
Purchase
16 units at $14.50 per unit.
August 18
Purchase
18 units at $12.00 per unit.
August 29
Sale
32 units.
August 31
Purchase
21 units at $17.50 per unit.
What is the per-unit value of ending inventory on August 31? (Round your per unit answers to 2 decimal places.)
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