Solution-Calculate the cost of goods sold using the fifo

Calculate the cost of goods sold using the fifo

Assignment Help Accounting Basics

Reference no: EM131671277

Question - On December 1, Marzion Electronics Ltd. has three DVD players left in stock. All are identical, all are priced to sell at $168. One of the three DVD players left in stock, with serial =1012, was purchased on June 1 at a cost of $114. Another, with serial =1045, was purchased on November 1 for $92. The last player, serial =1056, was purchased on November 30 for $87.

Calculate the cost of goods sold using the FIFO periodic inventory method assuming that two of the three players were sold by the end of December, Marzion Electronics' year-end.

Reference no: EM131671277

Questions Cloud

What role does the foreign tax credit limitation play : What role does the foreign tax credit limitation play in U.S. tax policy? Why are the income source rules important to a U.S. citizen or resident

Alcohol consumption on college campuses : Given what we know about tobacco and alcohol consumption on college campuses, what are effective ways of communicating abuse and dependency to appeal?

Drawn a sample size from population with a mean : Suppose a random sample of size 36 is drawn from a population with a mean of 278. If 86% of the time the sample mean is less than 280.

Arouse a fair amount of cognitive dissonance : How are people most likely to reduce this dissonance stemming from an immoral act such as lying or cheating

Calculate the cost of goods sold using the fifo : Calculate the cost of goods sold using the FIFO periodic inventory method assuming that two of the three players were sold by the end of December

How express and apparent authority created by agent impacts : Compare how express, implied, and apparent authority created by the principal and agent impacts equal opportunities for employees.

Observation of social behavior research project : As an applied final project, you will conduct an observation of human social behavior in a public place (e.g., supermarket, church, nightclub, park)

Demonstrate the nexus between crime and prosecution : Theoretical explanation of why the offender may have committed the crime . Demonstrate the nexus between crime and prosecution .

Discuss three ways in which you have been socialized : Socialization is an ongoing process, beginning at birth and ending at death. Discuss three ways in which you have been socialized.

User Account

All Pages

Calculate the cost of goods sold using the fifo

Reference no: EM131671277

Reference no: EM131671277

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT