Determine the costs of goods, Cost Accounting

Savage Distribution markets CDs of performing artist Little Sister.  At the beginning of October, Savage had in beginning inventory 1,200 Little Sister's CDs with a unit cost of $5.  During October, Savage made the following purchases of Little Sister's CDs.

Oct 3                4,000 @ $6                              Oct 19  2,500 @ $8

Oct 9                3,000 @ $7                              Oct 25  2,000 @ $9

During October 9,400 units were sold.  Savage uses a periodic inventory system.                 

Instructions

(a) Determine the costs of goods available for sale.    

(b) Determine the costs assigned to ending inventory and to cost of goods sold using

(a) FIFO,

(b) LIFO, and

(c) Weighted average.

Posted Date: 2/20/2013 7:43:44 AM | Location : United States







Related Discussions:- Determine the costs of goods, Assignment Help, Ask Question on Determine the costs of goods, Get Answer, Expert's Help, Determine the costs of goods Discussions

Write discussion on Determine the costs of goods
Your posts are moderated
Related Questions
Questions 8-10 rely on the following data. FrontGrade Systems allocates manufacturing over- head based on machine hours. Each connector should require 11 machine hours. According t

Kaplan Computers manufactures high end computer systems for the graphics design industry. At the present time, the company makes three computers with the following characteristics

Cost Data Determination How does one decide the cost data for products and the services which are the end result of the productive processes? The response to this question is m

advantages and disadvantages of just in time

list and discus the problem encountered in adopting profit as a yardstick in measuring performance

what is the procedure of purchase of materials in large organisation?


Glaser Health Products of Ranier Falls, Georgia, is organized functionally into three divisions: Operations, Sales, and Administrative. Purchasing, receiving, materials and product

sales to profit volume ratio for three year

what is rowan incentive system