User Account

All Pages

How to compute cost of goods sold and ending? inventory

Assignment Help Managerial Accounting
Reference no: EM132500693

Question 1: Explain how to Compute cost of goods sold and ending? inventory, using each of the following four inventory? methods:

Question 2: Begin by entering the number of units sold and number of units in ending inventory. Then calculate cost of goods sold and ending inventory using? (a) specific? identification, then? (b) average? cost, then? (c) FIFO, and finally? (d) LIFO. ?(Round the average cost per unit to the nearest cent. Round final answer to the nearest whole? dollar.)

Ron Company's inventory records for its retail division show the following at August 31:

At August 31, 9 of these units are on hand.

Aug 1 Beginning inventory. . . . 6 units @ $165 = $990

15 Purchase. . . . . . . . .5 units @166=$830

16 Purchase. . . . . . . . . . .10 units @ 175 = $1,750

Reference no: EM132500693

Questions Cloud

Analyze the process for crafting a talent brand : Analyze the process for crafting a talent brand and accessing talent channels. Use technology and information resources to research issues in talent management.
Would the ada wilson be likely to use job costing : Would the Ada Wilson be likely to use job costing or process costing for manufacturing footballs under these assumptions? Explain.
What are the schools of thought or frameworks : What are the "schools of thought" or frameworks or theories in which you have to show knowledge and learning to achieve the learning outcomes? Describe your.
Demonstrate at least one other ratio that creditors may use : Reviewing the computation for "times interest earned". Why do you think creditors may use this ratio to access a company's financial condition?
How to compute cost of goods sold and ending? inventory : Explain how to Compute cost of goods sold and ending? inventory. Calculate cost of goods sold and ending inventory using specific? identification
Computer Vision Assignment - Manipulations of bounding boxes : Computer Vision Assignment - Try to extract the second image (Im2) in Bbox4 as located by the corresponding bounding box
Draw an overall conclusion about internal controls : Identify a control related to that assertion. If no controls are identified, recommend a control for assertion. Draw overall conclusion about internal control
Discuss two ways it can alter an individuals work : Discuss two ways IT can alter an individual's work? Based on your knowledge and experience, in at least one paragraph, please explain what do you think can go.
Comput cost of product transferred to finish good inventory : Minstrel's beginning and ending Work in Process Inventory are $15,500 and $27,000 respectively. Compute cost of product transferred to Finished Goods Inventory

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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