Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 28 the following information pertains to

QUESTION 28 The following information pertains to Michael Technologies Co. March 1- Beginning inventory =...

90.2K

Verified Solution

Question

Accounting

image
image
image
image
image
image
QUESTION 28 The following information pertains to Michael Technologies Co. March 1- Beginning inventory = 440 units @ $50.00 March 5- Purchased 250 units @ $40.00 March 15- Purchased 100 units @ $45.00 March 18- Sold 600 units @ $80.00 Sold 600 Units; Units in ending inventory: 190 Units What is the ending inventory for Michael Technologies Co. if it uses the LIFO method? $8,100 $8,778 $9,500 $15,200 QUESTION 29 Question Completion Status: QUESTION 29 The following information pertains to Michael Technologies Co. March 1- Beginning inventory = 440 units @ $50.00 March 5- Purchased 250 units @ $40.00 March 15- Purchased 100 units @ $45.00 March 18- Sold 600 units @ $80.00 Sold 600 Units; Units in ending inventory: 190 Units What is the ending inventory for Michael Technologies Co. if it uses the Average Cost method? $8,100 $8,778 $9,500 $15,200 QUESTION 30 The following information pertains to Michael Technologies Co. QUESTION 30 The following information pertains to Michael Technologies Co. March 1- Beginning inventory = 440 units @ $50.00 March 5- Purchased 250 units @ $40.00 March 15- Purchased 100 units @ $45.00 March 18- Sold 600 units @ $80.00 Sold 600 Units; Units in ending inventory: 190 Units What is the COGS for Michael Technologies Co. if it uses the LIFO method?? $27,000 $27,720 $28,400 $48,000 QUESTION 31 QUESTION 31 The following information pertains to Michael Technologies Co. March 1- Beginning inventory = 440 units @ $50.00 March 5- Purchased 250 units @ $40.00 March 15- Purchased 100 units @ $45.00 March 18- Sold 600 units @ $80.00 Sold 600 Units; Units in ending inventory: 190 Units What is the COGS for Michael Technologies Co. if it uses the FIFO method?? $27,000 $27,720 $28,400 $48,000 QUESTION 32 QUESTION 32 The following information pertains to Michael Technologies Co. March 1- Beginning inventory = 440 units @ $50.00 March 5- Purchased 250 units @ $40.00 March 15- Purchased 100 units @ $45.00 March 18- Sold 600 units @ $80.00 Sold 600 Units; Units in ending inventory: 190 Units What is the COGS for Michael Technologies Co. if it uses the Average Cost method?? $27,000 $27,720 $28,400 $48,000 Question Completion Status: 90,00 QUESTION 33 The following information pertains to Michael Technologies Co. March 1- Beginning inventory = 440 units @ $50.00 March 5- Purchased 250 units @ $40.00 March 15- Purchased 100 units @ $45.00 March 18- Sold 600 units @ $80.00 Sold 600 Units; Units in ending inventory: 190 Units What is the gross profit for Michael Technologies Co. if it uses the average cost method??? $20,278 $27,000 $27,720 $28,400 QUESTION 34

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students