User Account

All Pages

Compute what is the cost of the ending inventory

Assignment Help Financial Accounting
Reference no: EM132488231

A company had the following purchases during its first year of operations:

Purchases

January: 28 units at $111

February: 38 units at $122

May:      33 units at $134

September: 30 units at $142

November:  28 units at $152

Question 1: On December 31, there were 49 units remaining in ending inventory. These 49 units consisted of 10 from January, 11 from February, 6 from May, 9 from September, and 13 from November. Using the specific identification method, what is the cost of the ending inventory?

A company had the following purchases and sales during its first year of operations:

Purchases Sales

January:10 units at $1557 units

February:20 units at $1605 units

May:15 units at $1659 units

September:12 units at $1708 units

November:10 units at $17511 units

Question 2: On December 31, there were 27 units remaining in ending inventory. Using the perpetual LIFO inventory costing method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

Reference no: EM132488231

Questions Cloud

Perform the appropriate hypothesis test : Assuming the burn-time for an individual fuse is normally distributed, perform the appropriate hypothesis test at a 5% significance level
How many additional appointments new physician need : Using the appropriate information above to find out how many additional appointments does the new physician need to have to make up the $30,000 loss?
Identify the type ii error : A waste management service attempts to design routes so that each of their trucks pick-up on average four tons of garbage or less
How the technology works to engage students : For each form of technology, include the following components: A detailed description and how the technology works to engage students and enhance math.
Compute what is the cost of the ending inventory : Using the perpetual LIFO inventory costing method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
How would you encourage a non-english speaker : How would you encourage a non-English speaker/reader to begin reading books either in English or their native tongue? Please Share two strategies.
How will a company contribution margin be affected : How will a company contribution margin be affected by an investment in equipment that increases fixed costs in order to achieve a reduction in direct labor cost
What is the joint probability that both a and b will occur : If A and B are independent events, what is the joint probability that both A and B will occur?
Discuss your opinion about parents expectations : After reading the "Mothers' Experiences" article, discuss your opinion about parent's expectations for completing high school. Parents often think.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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