User Account

All Pages

Calculate the number of units in ending inventory

Assignment Help Accounting Basics
Reference no: EM132770195

Question - A review of the Double Rainbow Corporation shows the following purchases and sales:

Jan 1 Beginning inventory 50 units at $16.00 $800

March 3 Purchases 100 units at $19.00 $1.900

April 7 Sales 110 units at $38.00

Aug. 21 Purchases 60 units at $22.00 $1,320

Oct. 3 Purchases 30 units at $20.00 $600

Dec 15 Sales 64 units at $36.00

Required - Calculate the following. Show all calculations.

i. Calculate the number of units in ending inventory.

ii. Calculate FIFO total $ in ending inventory based on the perpetual method

iii. Weighted average total ending inventory based on the periodic method (round weighted average cost to 2 decimal places. Round final answer to nearest dollar)

iv. Using FIFO based on the perpetual method, calculate the total gross profit.

Reference no: EM132770195

Questions Cloud

Calculate the binding energy per nucleon for each of the : Question: Calculate the binding energy per nucleon for each of the following nuclei. ( Use the table of atomic masses as necessary.)
Explain the difference between a leader and a manager : Explain the difference between a leader and a manager. Can a leader be a good manager, and can a manager be a good leader?
What is the arrival rate of the combined queue : Now suppose we combine the 10 queues from above question one queue. What is the arrival rate of the combined queue
Discusses methods to assess quality of simulations : discusses methods to assess the quality of simulations. You learned about three different views of simulation quality.
Calculate the number of units in ending inventory : Calculate the number of units in ending inventory. Calculate FIFO total $ in ending inventory based on the perpetual method
Find what would be the labor efficiency variance : What would be the labor efficiency variance? According to the standards that have been set for the robes, factory should work 780 direct labor-hours each month
Evaluate your nursing practicum project : As you plan, develop, implement and evaluate your nursing practicum project, reflect on how this project and your graduate education have prepared you to meet.
Business is poker game and we are all bluffing : Discuss why Goldman Sachs was a disciple of Albert Carr's theory of "business is a poker game and we are all bluffing."
What is the balance of Accounts Receivable at March : The March 31, 2019 balance sheet of The Kalakaua Corporation had Accounts Receivable of $460,000. What is the balance of Accounts Receivable at March 31, 2020

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd