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Por questions 14 - 16 assume the company uses Weighted Average cost inventory valuation, = 198.65o...

Question:

Por questions 14 - 16 assume the company uses Weighted Average cost inventory valuation, = 198.65o 14.839730 calculate 14 Cal

Use the following to answer questions 7 - 17 During September, KM Company sells 9,800 watches for $300.00 each. The company h
Por questions 14 - 16 assume the company uses Weighted Average cost inventory valuation, = 198.65o 14.839730 calculate 14 Calculate ending inventory (WA) 200x17. So is s625275 calculate cost of goods sold (WA) 3 500 x 147.Uso 82244723te gross profit (WA) 27. Based on the above, which method would show a larger net income number? (FIFO, LIFO Or WA)
Use the following to answer questions 7 - 17 During September, KM Company sells 9,800 watches for $300.00 each. The company has the following inventory purchase transactions for September: 300 Date. Transaction # of Units Unit cost Total Cost 1-Sep Beginning Inventory $195.00 $58,500 4-Sep Purchase 6,000 $198.00 1,188,000 24-Sep Purchase 3,700 $200.00 740,000 10,000 $1,986,500 2940000 7. 5 What were company's sales for the period? For questions 8-10 assume the company uses First-in, First-out (FIFO) inventory valuation. 3700 x 200 3500 X 200 - 40000 600 X 198 300 X 195 -7 300x195 16000x198 3700 x las 8. $40000 Calculate ending inventory (FIFO) Chantar Page 6-1

Answers

FIFO Endimg Inventory : 200 x $200 $ 40000 Cost Goods Nolde 58500 + 1,188,000 +(3500 x 200) » $ 1946,500 | Gross Pusfit Sales

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