Solution-Calculate januarys ending inventory and cost of

Calculate januarys ending inventory and cost of goods sold

Reference no: EM131000617

Ferris Company began 2011 with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2011 are as follows:

476_254-B-A-V-I (723).png

SaleDate of sale Units
Jan. 5 ......... 3,000
Jan. 12 ........ 2,000
Jan. 20 ........ 4,000
Total ......... 9,000
8,000 units were on hand at the end of the month.

Required:

Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives:

1. FIFO, periodic system
2. LIFO, periodic system
3. LIFO, perpetual system
4. Average cost, periodic system
5. Average cost, perpetual system

Reference no: EM131000617

Questions Cloud

What are the advantages of using a random sample : Define the following terms and give an example of each: Population, Sample, and Random Sample and What are the advantages of using a random sample? What are the disadvantages

Find final velocity of electron after electron accelerated : An electron was moving at a velocity 5x107 ms-1. A potential difference of 300V is applied in such a way that the electron was accelerated to a higher velocity. Find the final velocity of the electron after the electron is accelerated.

What will be the net charge of the ball : A metal ball has -1 coulomb of charge. If it receives 0.50 x 1020 number of electrons , what will be the net charge of the ball?

What distance from charge q net electric field will be zero : If one of these two charge is negative will there be any point between the charges on the line joining them where the net electric field is zero? Explain why. (Hint: For instance consider charge +q is replaced by a charge -q)

Calculate januarys ending inventory and cost of goods sold : Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives:

Quality control laboratory for testing : A batch of 200 bulbs were sent to a quality control laboratory for testing: 100 Type 1, 75 Type 2, and 25 Type 3. What is the probability of ?nding a defective bulb?

What kinds of surveys or studies would you want to conduct : If you were opening a new business, what kinds of surveys or studies would you want to conduct before investing your time and money? How would you conduct these studies

Organizational impacts of implementing the strategic plan : Determine at least five (5) information technology personnel / roles that would be in place in order to start the business venture of gaining better traction of customer satisfaction and loyalty. Justify your response.

Determine the recoil speed of the thorium nucleus : A U-238 nucleus (mass = 238 units) decays, transforming into an alpha particle (mass = 4.00 units) and a residual thorium nucleus (mass = 234 units). If the uranium nucleus was at rest, and the alpha particle has a speed of 1.50 x 10^7 m/s, deter..

User Account

All Pages

Calculate januarys ending inventory and cost of goods sold

Reference no: EM131000617

Reference no: EM131000617

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Sanford elect to treat as a section 179 expense

Palmer inc has a net operating loss carryforward of 100000

Does your company have an accounts receivable balance if so

Compute the amount of accumulated depreciation

Difference between business risk and financial risk

Partnerships journal entry to record morriss investment

Calculate the companys current income and determine the

The charges to work in process-assembly department for a

Evaluate the factors that help to determine that market

Assuming that principal payments will be made when required

Implementing an abc system compared to traditional costing

Halifax manufacturing allows its customers to return

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT