The following information was available from the inventory records of the Anthony Company

In order to continue enjoying our site, we ask that you confirm your identity as a human. Thank you very much for your cooperation.

$.30=10,000$800+$.10+$.12

Materials:Controlling, Costing, and Planning125C35.The materials control method that is based on physical observation that an order point has beenreached is the:

Get answer to your question and much more

The following questions are based on the Appendix to the chapter:C36.If the cost of goods sold computed when inventory is costed using the fifo method is less than whenusing the lifo method:

Get answer to your question and much more

A37.The method of inventory pricing that best approximates specific identification of the actual flow ofcosts and units in most manufacturing situations is:

Get answer to your question and much more

D38.The following information was available from the inventory records of the Anthony Company forJanuary 19X7:UnitTotalUnitsCostCostBalance at January 1, 19X7........................................2,000$9.775$19,550Purchases:January 6, 19X7....................................................1,50010.30015,450January 26, 19X7..................................................3,40010.75036,550Sales:January 7, 19X7....................................................1,800January 31, 19X7..................................................3,200Balance at January 31, 19X7......................................1,900Assuming that Anthony maintains perpetual inventory records, what should be the inventory atJanuary 31, 19X7, using the average cost inventory method rounded to the nearest dollar?A.$19,998B.$19,523C.$19,703D.$19,950E.none of the aboveSUPPORTING CALCULATION:$19,950=5,100$10.75)_(3,400+$10)_(1,700_1,900

126Chapter 9D39.The following information was available from the inventory records of the Anthony Company forJanuary 19X7:UnitTotalUnitsCostCostBalance at January 1, 19X7........................................2,000$9.775$19,550Purchases:January 6, 19X7....................................................1,50010.30015,450January 26, 19X7..................................................3,40010.75036,550Sales:January 7, 19X7....................................................1,800January 31, 19X7..................................................3,200Balance at January 31, 19X7......................................1,900Assuming that Anthony does not maintain perpetual inventory records, what should be theinventory at January 31, 19X7, using the average cost inventory method rounded to the nearestdollar?$19,702=1,900_6,900$71,550