Beginning inventory purchases and sales data for portable

Assignment Help Finance Basics
Reference no: EM13574370

Beginning inventory, purchases, and sales data for portable DVD players are as follows:

April 1

Inventory

120 units at $39

6

Sale

90 units

14

Purchase

140 units at $40

19

Sale

110 units

25

Sale

45 units

30

Purchase

160 units at $43

The business maintains a perpetual inventory system, costing by the first-in, first-out method.

a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale.

b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?

Reference no: EM13574370

Questions Cloud

Daily costs for kelso manufacturing include 1000 of fixed : daily costs for kelso manufacturing include 1000 of fixed costs and total variable costs are show below. unit
If you were given a large data set such as the sales over : if you were given a large data set such as the sales over the last year of our top 1000 customers what might you be
The prepaid insurance account is made up of four policies : following is a set of situations that may or may not involve sampling.1.an auditor is examining loan receivables at a
William hancock traded a delivery truck and 5000 cash for a : william hancock traded a delivery truck and 5000 cash for a newer van. this transaction has commericial substance.value
Beginning inventory purchases and sales data for portable : beginning inventory purchases and sales data for portable dvd players are as followsapril 1inventory120 units at
December 31 year-end and to allocate the 352500 net income : the following information applies to the questions displayed below. kim ries tere bax and josh thomas invested 30000
If a sound is 100 times louder than a whisper how loud is : if a sound is 100 times louder than a whisper how loud is that sound in
American medical instruments produces a variety of medical : american medical instruments produces a variety of medical products at its plant in minneapolis. the company has sales
Te cash is available in 2 days on average 1 calculate the : float measurement. on a typical day abc company writes checks totaling 3000. these checks clear in 7 days.

Reviews

Write a Review

 

Finance Basics Questions & Answers

  What will these bonds sell for at issuance

Using the IRS amortization rule, what interest deduction can the company take on these bonds in the first year? In the last year? c. Repeat part (b) using the straight-line method for the interest deduction.

  What are the similarities and differences in preferred

what are the similarities and differences in preferred stock and debt as sources of financing for a

  At what rate is the npv equal to zero

A project costs $101,000 and is expected to generate cash flows of $31,000 per year for the next 15 years. At what rate is the NPV equal to zero?

  Integrating strategic planning-internal control conce

What are some methodologies and tools used in the analysis of potential risk factors in a teaching hospital, a primary care physician's office, and a public health facility?

  Who can recover an amount for its loss

First National agrees to act as Interstate's mortgagee, and Interstate obtains an insurance policy from Good Hands to cover the property. A fire totally destroys the warehouse.

  How many option contracts are needed

Suppose your stock portfolio's beta is 1.40 and it's currently valued at $1 million. The S&P 500 index is currently at 2,000. The risk­free rate is 4% per annum and the dividend yield on both the index and your portfolio is 0%. What action is ..

  Firm a has 10000 in assets entirely financed with equity

firm a has 10000 in assets entirely financed with equity. firm b also has 10000 in assets but these assets are financed

  What is a legal agreement also called the deed of trust

what is a legal agreement also called the deed of trust between the corporation issuing bonds and the bondholders that

  Is it possible for the inventory turnover to be too high

a company that grants terms of n45 on all sales has a yearly accounts receivable turnover based on monthly averages of

  Description of business analysis

As the research starts to come in about your expansion opportunities abroad, the marketing department has discovered that the price elasticity for CPI's products in Brazil is expected to be much greater than in current markets served.

  What is the yield that trevor would earn

The bonds make semiannual coupon payments at a rate of 8.4 percent. If the current price of the bonds is $1,081.82, what is the yield that Trevor would earn by selling the bonds today?

  Calculate the unearned interest

You financed $10,500 and are making regular payments of $285.00 over the 4 year life of the loan. You would like to pay off the loan a year early. Calculate the unearned interest by.

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