Grays Company has inventory of 28 units at a cost of $9 each on August 1. On August 3, it purchased 38 units at $10 each. 30 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 30 units that were sold?
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Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.
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Data for hermann corporation are shown below: per unit percent of sales selling price $ 125 100 % variable expenses 80 64 contribution margin $ 45 36 % fixed expenses are $85,000 per month and the company is selling 2,700 units per month. required: 1-a. how much will net operating income increase (decrease) per month if the monthly advertising budget increases by $9,000 and monthly sales increase by $20,000? 1-b. should the advertising budget be increased?
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Grays Company has inventory of 28 units at a cost of $9 each on August 1. On August 3, it purchased...
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