User Account

All Pages

Compute the ending inventory at December

Assignment Help Accounting Basics
Reference no: EM132732870

Question - Inventory methods - The following information is available from Jones's inventory record for Product X in 2017.

 

Units

Unit Cost

January 1, 2017 (beginning inventory)

2,400

$18.00

Purchases:

 

 

January 5, 2017

3,900

$20.00

March 25, 2017

3,600

$21.00

July 16, 2017

1,500

$22.00

October 15, 2017

2,700

$23.00

Assume that Jones uses a periodic inventory system. A physical inventory on December 31, 2017, shows 3,000 units on hand.

Instructions - Compute the ending inventory at December 31, 2017, under each of the following inventory methods (Show supporting computations):

(a) FIFO.

(b) LIFO.

(c) Weighted Average Cost.

Reference no: EM132732870

Questions Cloud

What the journal entry to record the flow of costs : Work in process at the end of the period totaled $60,000. What the journal entry to record the flow of costs into Department 3 during the period
Explain the external environment through compilation of pest : Explain the internal and external environment through the compilation of a SWOT (strengths, weaknesses, opportunities, and threats) analysis.
Advantages of enrichment culture and petrie plate method : Briefly review the shortcomings and advantages of the enrichment culture and Petrie plate method.
Create an alternative purpose for hill ted talk : Hypothesize how your alternative may be reflective of your projection onto the data based on your own beliefs and life experience
Compute the ending inventory at December : A physical inventory on December 31, 2017, shows 3,000 units on hand. Compute the ending inventory at December
What is the role of platelets in the blood : What is the role of platelets in the blood? Which of the following are the most abundant cell type in blood?
What is working : What is working? What is not working? Students should provide a description of current practices with examples to illustrate their points.
Diseases that aids patients are more likely to contract : HIV predominantly infects T helper cells, cells that are responsible for coordinating B- and T-cell activity. Based on this information, explain why HIV
Why mcdonald have been so successful throughout the world : Outline the reasons why McDonald's have been so successful throughout the world. (Use both the information in the case and your own knowledge.)

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