Sam's Corner Store has the following purchase and sales information for one of their inventory items:

Date

Units $/Unit.
Total

Feb   1

Opening inventory

10

$8

$80

Feb   9

Purchase

25

$9

$225

Feb 15

Sale

15

$15

$225

Feb 17

Purchase

20

$11

$220

Feb 25

Sale

10

$16

$160

Required:

For (a) and (b) assume the company uses the periodic inventory system.

(a) Calculate the gross profit if the company uses first-in, first-out (FIFO)

(b) Calculate the value of the ending inventory if the company uses weighted average.

For (c) and (d) assume the company uses the perpetual inventory system.

(c) What is the cost of goods sold for the Feb 25 sale if the company uses weighted average to cost the inventory?

(d) What is the value of the ending inventory if the company uses FIFO?

The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are shown below:

1. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system.

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Railroads became the model for all the big businesses that followed. What was that model and give two examples how other businesses adopted it?

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In your first post, provide the demographics you used and list three comments on how this insurance’s plans compare to another insurance company from the same website. Your comments should address the following questions:

1. With the best plan, are the premiums affordable to you? Does the most basic plan provide you with the necessary coverage?

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hi i don't understand for question b #3 & 4

Having thought about Mr. James’s suggestion, you consider several options as an estimate of lost profits. These include 1) the full year, 2) the last six months only, 3) a weighted average that gives twice the weight to the last six months as to the first six months, or 4) some other weighted average. Which method do you think gives the most accurate estimate of lost profits?

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