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Harold Co. reported the following current-year purchases and sales data for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 100 units @ $10 = $ 1,000 Jan. 10 Sales 90 units @$40 Mar. 14 Purchase 250 units @ $15 = 3,750 Mar. 15 Sales 140 units @$40 July 30 Purchase 400 units @ $20 = 8,000 Oct. 5 Sales 300 units @$40 Oct. 26 Purchase 600 units @ $25 = 15,000 Totals 1,350 units $ 27,750 530 units Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Date Cost of Goods Sold Inventory Balance 1/1 $ 1/10 $ $ 3/14 $ 3/15 $ 7/30 $ 10/5 $ 10/26 $ Total $ Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Date Cost of Goods Sold Inventory Balance 1/1 $ 1/10 $ $ 3/14 $ 3/15 $ 7/30 $ 10/5 $ 10/26 $ Total $
The materials inventory increased from the beginning to the end of the period by $12,000, while the work in process inventory decreased from the beginning to the end of the period by $5,000. What is the cost of goods manufactured?
purchased incubators for the nursery for $47,300 from unrestricted resources. (assume straight line deprecation on all hospital capital assets).
Journalize each transaction of Showtime Amusements as shown for July 1. Explanations are not required -
Given the inherit audit risks related to inventory valuation, design an effective auditing plan for this area that minimizes risk exposure for the auditing firm.
In addition, the partnership purchased all of the assets of Granny Newcombs, Inc. Of the total purchase price for these assets, $60,000 was allocated to the trade name and logo.
Accounts Receivable can use most Confirmations if conditions allow Vouching entries to sales documents Inquiring about related parties Reperformance of aging analysis, bad debt estimates Which Types of Tests?
If a review of Courtney's accounting records at the end of the period disclosed a material price variance of $5,000U and a material quantity variance of $3,000F, determine the actual price paid for a gallon of direct material.
koger supermarkets use scanning machines to ring-up customer purchases. koger bought machine 25624 on april1 2006 for
The Chief Financial Officer, Mr. Roach, told him it was impractical because it would require the issuance of common stock at a cost of 13.5 percent to finance the purchase. Is the company following a logical approach to using its cost of capital?
wades outstanding stock consists of 40000 shares of noncumulative 7.5 preferred stock with a 10 par value and also
Which countries would you predict have the highest and lowest opportunity cost associated with a strong military?
Assume that the company follows the practice of allocating all maintenance department costs incurred each month to the divisions in proportion to the actual machine-hours recorded in each division for the month. On this basis, how much cost would ..
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