E 9.22 – Bosco Company
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given a chart regarding inventory with missing values… determine the missing data.
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Given a chart regarding inventory with missing values… determine the missing data.
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Prepare the journal entry to adjust to avg cost method. How much is cost of goods sold adjustment on the revised income statement?
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Given the data regarding retail and cost of inventory… calculate the ending inventory and cost of goods sold.
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Given data regarding the cost and retail of their inventory … using the conventional retail method – calculate the ending inventory and cost of goods sold along with recalculating the cost-to-retail percentage.
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Given the quantity, unit cost, and selling price of 5 different products along with sales commission… determine the inventory carrying value using the lower cost or net realizable value rule to individual products and the entire inventory while also recording an adjusting journal entry.
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Given the quantity, unit cost, unit replacement cost, and unit selling price of 5 different products along with sales commission and normal profit percent… calculate the inventory carrying value using lower cost or market rule to individual products and to entire inventory while also preparing an adjusting entry.
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Given the cost and retail value data for the year… determine the estimated ending inventory and ending cost of goods sold using both average cost and conventional methods.
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Given data regarding the cost and retail value of items… calculate ending inventory using both the average cost and conventional method.
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Given information regarding the cost and retail value for numerous items… calculate the ending inventory and ending cost of goods sold using the LIFO retail method.
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Given data that relates to the cost and retail value of items for two years along with the price index… calculate the ending inventory and costs of goods sold for both years using the LIFO retail inventory method.
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