Cost of ending inventory, Cost of Ending Inventory

Cost of ending inventory

Assignment Help Cost Accounting

Reference no: EM13492712

Cost of Ending Inventory (90pts)
During April, Leary Company sold 1000 units of Product Q. Product Q's beginning inventory and purchases during the month are shown below. (Assume the periodic inventory system is used.)
April 1
Beginning inventory
200 units @ $1
April 5
Purchases
200 units @ $2
April 10
Purchases
200 units @ $3
April 15
Purchases
200 units @ $4
April 20
Purchase
200 units @ $5
April 25
Purchase
200 units @ $6
Compute the cost of the ending inventory under each of three methods: (a) average-cost, (b) LIFO, and (c) FIFO. Explain how you calculated each answer and include your explanations in a spreadsheet.

Reference no: EM13492712

Questions Cloud

State what is the temperature of the water : A sealed glass jar has a small amount of water on the bottom. The rest of the volume in the jar is taken up by helium gas at a partial pressure of 526 mmHg, and water vapor. If the total pressure inside the jar is 760. mmHg, what is the temperatur..

What is the total mechanical energy of the system : A pendulum consists of a 3.1 kg stone swinging on a 4.2 m string of negligible mass. The stone has a speed of 7.9 m/s when it passes its lowest point. what is the total mechanical energy of the system

Determine the area of the razorblade : A 5.2 cm × 3.8 cm razorblade is placed on the surface of a beaker of water. Though the density of the razorblade is greater than the density of the water, Determine the area of the razorblade in m2

Explain the reaction occur at 50c than 0c : For the reaction NO2 + O3 = N2O5 ,the activation energy is 18kj/mol and the overall delta E is -136kj/mol. how many times faster will the reaction occur at 50C than 0C for the forward reaction

Cost of ending inventory : Cost of Ending Inventory

Explain cvp analysis : Change in compensation of salespersons from fixed annual salaries totalling $300,000 to total salaries of $75,000 plus 5% commission on net sales.

Calculate the work done by the torque : A 1.50 grinding wheel is in the form of a solid cylinder of radius 0.140. Use equation to calculate the work done by the torque

What is the taxable income for 2012 : What is the taxable income for 2012?

Explain boiling point of the water at the air pressure : You are in a mountain range with atmospheric air pressure of 520 mmHg, and you wish to boil some eggs. What is the approximate boiling point of the water at this air pressure

User Account

All Pages