Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Explain about Gross margin method?
The steps in computing ending inventory under the gross margin method are
- Estimate gross margin based on net sales using the similar gross margin rate experienced in prior accounting periods.
- Determine approximate cost of goods sold by deducting estimated gross margin from net sales.
- Determine approximate ending inventory by deducting estimated cost of goods sold from cost of goods available for sale.Therefore the gross margin method estimates ending inventory by deducting estimated cost of goods sold from cost of goods available for sale.
The gross margin method presumes that a fairly stable relationship exists between gross margin and net sales. In other words gross margin has been a reasonably constant percentage of net sales and this relationship has continued into the current period. If this percentage relationship has changed the gross margin method doesn't yield satisfactory results.
Cargin Company uses the FIFO method in its process costing system. The Assembly Department started the month with 15,000 units in its beginning work in process inventory that were
what are the internal sources of accounting?
At the reception it is decrypted and actual data is obtained. Explain the different methods of encryption technique
basic accounting Assignment
how is withdrawaL OF goods by owner for personal use treated in the books
1. (a) Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage. (b) "Ledger is said to be the principal book entry and the t
Problem It is usually recognized that power is an essential component of accountability and that greater accountability is recognized towards those stakeholders who have more p
Annual interest of 5% paid if balance exceeds 800, $7 monthly fee if account falls below minimum balance, average monthly balance $1,160, account falls below $800 during 5 months
Woodie Limited issues $5 million in convertible bonds on 1 July 2012. They are issued at the fair value and pay an interest rate of 4 percent. The interest is paid at the end of ea
what would be the entry for-"rent recieved in advance"
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd