An asterisk (*) will appear to the right of an incorrect entry. Only final inventory cost – Column K – will be graded.
Jun. 1 240 $78 18,720$
10
15
20
24
30
30 Balances
Exercise 7-4
Name:
Section:
0%
[Key code here]
Total
Cost
Total
Cost
Answers are entered in the cells with gray backgrounds.
Score:
Key Code:
Instructions
Date
Purchases
Cells with non-gray backgrounds are protected and cannot be edited.
Quantity
Unit
Cost
Quantity
Total
Cost
Unit
Cost
Portable DVD Players
Cost of Merchandise Sold
Quantity
Unit
Cost
Jun. 1 240 $78 18,720$
10 180 $78 14,040$ 60 $78 4,680$
60 $80 4,800
Date
Purchases
Cost of Merchandise Sold
Quantity
Unit
Cost
Total
Cost
Unit
Cost
Total
Cost
Quantity
Unit
Cost
Total
Cost
Quantity
Exercise 7-4
Name:
Solution
Section:
ON
Portable DVD Players
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. Only final inventory cost – Column K – will be graded.
Scoring:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry. Only final inventory cost – Column K – will be graded.
a.
May 1 1550 $44 68,200$
10
12
14
20
31
31 Balances
b.
Based on the above data, inventory will be
Quantity
Unit
Cost
Quantity
Total
Cost
Unit
Cost
Total
Cost
Total
Cost
[Key code here]
Answers are entered in the cells with gray backgrounds.
Score:
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
Date
Quantity
Unit
Cost
Prepaid Cell Phones
Cost of Merchandise Sold
Purchases
Exercise 7-5
Name:
Section:
Instructions
0%
a.
May 1 1550 $44 68,200$
10 720 $45 32,400$ 1,550 $44 68,200$
20 1,200 $48 57,600$ 240 $44 10,560$
1,200 $48 57,600
Prepaid Cell Phones
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. Only final inventory cost – Column K – will be graded.
Scoring:
Instructions
Answers are entered in the cells with gray backgrounds.
Exercise 7-5
Name:
Solution
Section:
ON
Quantity
Unit
Cost
Total
Cost
Quantity
Date
Purchases
Cost of Merchandise Sold
Inventory
Quantity
Unit
Cost
Total
Cost
Unit
Cost
Total
Cost
An asterisk (*) will appear to the right of an incorrect entry. Only final inventory cost – Column K – will be graded.
May 1 1,550 $44 68,200$
10
12
14
20
31
31 Balances
Total
Cost
Unit
Cost
Quantity
Unit
Cost
Total
Cost
Prepaid Cell Phones
Cost of Merchandise Sold
Date
Purchases
Quantity
Unit
Cost
Quantity
Exercise 7-6
Name:
Section:
Key Code:
Total
Cost
Instructions
0%
[Key code here]
Answers are entered in the cells with gray backgrounds.
Score:
Cells with non-gray backgrounds are protected and cannot be edited.
May 1 1,550 $44 68,200$
10 720 $45 32,400$ 1,550 $44 68,200$
720 $45 32,400
480 $45 21,600 240 $45 10,800$
20 1,200 $48 57,600$ 240 $45 10,800$
Date
Purchases
Cost of Merchandise Sold
Inventory
Quantity
Quantity
Unit
Cost
Total
Cost
Quantity
Exercise 7-6
Name:
Solution
Section:
Unit
Cost
Total
Cost
Unit
Cost
Total
Cost
Prepaid Cell Phones
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. Only final inventory cost – Column K – will be graded.
Scoring:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
An asterisk (*) will appear to the right of an incorrect entry.
Market
Price
Commodity per Unit Cost Market
Ash 80 $140 $125
Aspen 120 90 112
Beech 30 75 74
Maple 75 88 86
Oak 60 140 145
Total
Cost
per
Unit
Total
Inventory
Quantity
0%
[Key code here]
Answers are entered in the cells with gray backgrounds.
Score:
Key Code:
Instructions
Exercise 7-15
Name:
Section:
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
Market
Price Lower of
Commodity per Unit Cost Market C or M
Ash 80 $140 $125 11,200$ 10,000$ 10,000$
Aspen 120 90 112 10,800 13,440 10,800
Beech 30 75 74 2,250 2,220 2,220
Total
Cells with non-gray backgrounds are protected and cannot be edited.
Scoring:
Instructions
Inventory
Quantity
Cost
per
Unit
Exercise 7-15
Name:
Solution
Section:
Answers are entered in the cells with gray backgrounds.
ON
An asterisk (*) will appear to the right of an incorrect entry.
Cost
Merchandise inventory, June 1
Purchases in June (net)
Merchandise available for sale
Ratio of cost to retail price: Cost:
Retail:
Sales for June (net)
Merchandise inventory, June 30, at retail
Multiply by ratio of cost to retail price
Merchandise inventory, June 30, at estimated cost
0%
[Key code here]
Exercise 7-25
Name:
Section:
Score:
Key Code:
Instructions
=
Cells with non-gray backgrounds are protected and cannot be edited.
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
Cost Retail
Merchandise inventory, June 1 165,000$ 275,000$
Purchases in June (net) 2,361,500 3,800,000
Scoring:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
Exercise 7-25
Name:
Solution
Section:
Cells with non-gray backgrounds are protected and cannot be edited.