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## Hoyt Company's inventory records show the following data for the month

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Hoyt Company’s inventory records show the following data for the month 1 Linville Company had beginning inventory on May 1 of â‚¬12,000. During the month, the company made purchases of â‚¬30,000 but returned â‚¬2,000 of goods because they were defective. At the end of the month, the inventory on hand was valued at â‚¬9,500. Calculate cost of goods available for sale and cost of goods sold for the month. Solution 1(4 min.) Beginning inventory â‚¬12,000 Net purchases (â‚¬30,000 â€“ â‚¬2,000) +28,000 Goods available for sale â‚¬40,000 Ending inventory â€“ 9,500 Cost of goods sold â‚¬30,500 2 Hoyt Company’s inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 100 \$3.00 Purchases: September 8 450 3.50 September 18 300 3.70 A physical inventory on September 30 shows 250 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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