User Account

All Pages

Calculate the value of Long inventory on December

Assignment Help Accounting Basics
Reference no: EM132852666

Problem - Long Corp. began the year with 100 units of inventory, each with a unit cost of $5. The company purchased 20 units for $6 each on June 16, sold 65 units for $15 each on August 19, and purchased another 25 units for $7 each on December 2. Calculate the value of Long's inventory on December 31 assuming it uses a perpetual inventory system and the LIFO method.

Reference no: EM132852666

Questions Cloud

Prepare the appropriate journal entry : Problem - Purchase Discounts - For each of the following transactions of Buckeye Corporation, prepare the appropriate journal entry
Possible problems in research design : How can you use the scientific method to find and address possible problems in your research design?
Find shape of the distribution for the sample mean : A random variable is normally distributed. It has a mean of 245 and a standard deviation of 21.
Tabulate the data and plot measurement : Provide an example for starting a new business providing height measurements of humans. Your customers expect accurate and precise measurements.
Calculate the value of Long inventory on December : Calculate the value of Long's inventory on December 31 assuming it uses a perpetual inventory system and the LIFO method
Forensic biology is scientific method of examining : Forensic biology is a scientific method of examining, testing, and probing evidence from a crime scene investigation.
Shape of the sampling distribution for samples : City officials want to estimate support for building a new city park. A random sample of 15 city residents will be selected. Suppose that 12 residents
Compute the number of days sales in inventory : Sidney began the year with $130,000 in merchandise inventory and ended the year with $190,000. Compute the number of days sales in inventory
Question on retail price investigation : TMS is a brand of designer T-shirts that is highly popular amongst the teenagers. The manufacturer suspects that its retailers charge less than the recommended

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