Mercedes brown starts a merchandising business on december

Assignment Help Accounting Basics
Reference no: EM13606218

Mercedes Brown starts a merchandising business on December 1 and enters into three inventory purchases: December 7 10 units @ $ 9 cost December 14 20 units @ $10 cost December 21 15 units @ $12 cost Mercedes sells 18 units for $35 each on December 15. Seven of the sold units are from the December 7 purchase and eleven are from the December 14 purchase. Mercedes uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on (a) weighted average, and (b) specific identification.

Reference no: EM13606218

Questions Cloud

Compufurn inc manufactures furniture for computer work : compufurn inc. manufactures furniture for computer work stations. compufurn uses a job-order costing system and employs
Fields amp maaner plc a consulting firm uses an : fields amp maaner plc a consulting firm uses an activity-based costing in which there are three activity cost pools.
A what are the magnitude and direction of a b bwhat are : vector a is directed along the positive y-axis and has magnitude 5.0 units. vector b is directed along the negative
Estimate the percent increase n in the hitch-force : the tractor-trailer unit is moving down the incline with a speed of 6.8 mihr when the driver brakes the tractor to a
Mercedes brown starts a merchandising business on december : mercedes brown starts a merchandising business on december 1 and enters into three inventory purchases december 7 10
On january 1 2010 the alice company leases equipment for : on january 1 2010 the alice company leases equipment for five years agreeing to pay 70000 annuallly at the beginning of
A copper wire has a circular cross section with a radius of : a copper wire has a circular cross section with a radius of 5.00 mm. the equation for drift velocity is given below. vd
Determine the moment vector mo that this force causes about : a worker at b pulls on the rope attached to the top of the pole at a with a force of f20n. a determine the moment
The following account balances are taken from the records : the following account balances are taken from the records of chauncey company at december 31 2010. the prepaid

Reviews

Write a Review

Accounting Basics Questions & Answers

  A machine costs 180000 and is expected to yield an

a machine costs 180000 and is expected to yield an after-tax net income of 10800 each year. management estimates the

  Compute net present value for alternative

Compute the net present value for each alternative and determine which alternative is more desirable using the net value criterion. Compute the profitability index for each alternative and determine which alternative is more desirable using the p..

  What account does this schedule support

Prepare a schedule of completed jobs on hand as of April 30, 2010. What account does this schedule support?

  She earns a fixed hourly wage of 25 sally owes a 10 percent

sally can work up to 3120 hours each year a busy social life and sleep take up the remaining time. she earns a fixed

  Classification at costs merchandising sector home

classification at costs merchandising sector home entertainment center hec operates a large store in san francisco. the

  Prepare schedule of cash collections for july

Duffy Corporation hasprepared the following sales budget: Month. Prepare a schedule of cash collections for July through September.

  How much of the 305000 purchase price is for section 197

derek purchases a small business from arton september 1 2008. he paid the following amounts for the business.fixed

  Indicate the net effect of transaction of on equations

Paid utilites using the folloing column headings, identify the accounts involved and indicate the net effect of each transaction of on the accounting equations.

  Computing the variable cost per unit

Compute the variable cost per unit. Compute how many CDs Spears Music will have to sell in order to break even. Compute how many CDs Spears Music will have to sell in order to make a target net income of $16,200.

  Indicate the missing amount for each letter assume that in

manufacturing cost data for orlando company which uses a job order cost system are presented below.indicate the missing

  During july neptune company had actual sales of 144000 with

during july neptune company had actual sales of 144000 with a volume of 64000 units compared to budgeted sales of

  The partnership place asset 1 seven-year property in

frank greta and helen each have a one-third interest in the fgh partnership. on december 31 2012 the partnership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd