User Account

All Pages

Determine the cost of the ending inventory

Assignment Help Accounting Basics
Reference no: EM132719671

Question - Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows.

Jan. 1 Beginning i..s @ $3.00 $270.00

Feb. 2..s @ $3.50 420.00

Apr. 2..s @ $3.80 1,140.00

May 4..s @ $4.00 1,600.00

Nov. 3..s @ $5.00 950.00

Totals 1,100 units $4,380.00

A physical count indicates 200 units in inventory at year-end.

Required - Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.)

A. Average cost:

B FIFO:

C.LIFO:

Reference no: EM132719671

Questions Cloud

How to make journal entries to record forward contract : How to make journal entries to record forward contract and the sale of equipment, including the adjusting entries required at year end and the settlement date.
What is meant by the positive accounting theory : Explain and discuss what is meant by the positive accounting theory and its relationship to corporate governance. Define 'earnings management'
Conflict resolution process : Create your own workplace conflict and then walk me through the Conflict Resolution Process you took by answering the Interview Question
Compute how can the internal rate of return be found : Compute How can the internal rate of return be found? determined the net operating cash inflows during a project's life would not be equal in amount.
Determine the cost of the ending inventory : Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation
How will you determine which evidence to implement : What are the common barriers to evidence translation in addressing this problem? How will you determine which evidence to implement?
Preferable to motivate employee performance : Preferable to motivate employee performance through short-term incentives versus long-term incentives, and vice-versa.
Prepare the general ledger journal entries for transactions : Prepare the general ledger journal entries for the transactions. If no entry is required, do not leave it blank. State "No Entry Required"
Examine the health-illness continuum : Examine the health-illness continuum and discuss why this perspective is important to consider in relation to health and the human experience when caring for.

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