User Account

All Pages

Merchandise transactions for the month of january

Assignment Help Finance Basics
Reference no: EM131910139

Ferris Company began 2018 with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January 2018 are as follows:

 PurchasesDate of PurchaseUnits Unit Cost*Total CostJan. 103,000 $8  $24,000 Jan. 184,000  9   36,000 Totals7,000      60,000 

*Includes purchase price and cost of freight.

SalesDate of SaleUnits Jan. 52,000 Jan. 121,000 Jan. 203,000 Total6,000 

5,000 units were on hand at the end of the month.

Required:

Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives:

1. FIFO, periodic system.

2. LIFO, periodic system.

3. LIFO, perpetual system.

4. Average cost, periodic system.

5. Average cost, perpetual system.

Reference no: EM131910139

Questions Cloud

Compute the average weighted cost of capital : Compute the average weighted cost of capital. You may want to calculate your answer using Excel, and paste the solution into the solution window.
Calculate the selling price per ton of the compound mixture : Calculate the selling price per ton of the compound mixture. Use the following table in your workings as marks will also be awarded for individual calculations.
Calculate topanga cost of goods : 1. Calculate Topanga's cost of goods sold for the first quarter using:
Is this product advertised accurately : You are the ethics compliance officer at the Bank of Brexit. The wizards in the financial products marketing division are selling a new student line of credit.
Merchandise transactions for the month of january : Ferris Company began 2018 with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January 2018.
What would the result be if mattel chose to remain unhedged : What would the result be if Mattel chose to remain unhedged? Show how you arrived at your answer with numbers. Is this result certain or risky?
What would you estimate the stock price to be : If shares in a similar company have an average return of 14%, what would you estimate the stock price to be?
Possibility of completing one or both projects : Gas Station A is paid back in 2 years; CF1 in year 1, and CF2 in year 2. Gas Station B is paid back in one (1) year. According to the payback period
Maximum after-tax returns : She has $100,000 to invest, and because all the bonds are high-quality issues, she wants to select the one that will give her maximum after-tax returns.

Reviews

Write a Review

Finance Basics Questions & Answers

  Determine accounts how much receivables decline

McNally Corporation has sales of $1,000,000 million per year, all on credit terms calling for payment within thirty days, and its accounts receivable are $200,000.

  Explain what happens to expected return as beta increases

Financial researchers at Smith Sharon, an investment bank, esti- mate the current security market line as E(Ri) = 4.5 + 6.8(?i).

  Describe the accounting treatment for the issuance of stock

Describe the accounting treatment for the issuance of stock.

  Develop a 95 confidence interval for the proportion

during a national debate on changes to health care a cable news service performs an opinion poll of 500 small business

  Forecast of monthly profit for store

Crusty Pizza executives are considering opening several new stores and they would like a forecast of monthly profit for each store.

  Calculation of abnormal rates of return

Calculate the abnormal rates of return for the five stocks in Problem first suppose the following systematic risk measures:

  Computing stock value under different assumptions

SpreadSpreadsheets are especially useful for computing stock value under different assumptions. Consider a firm that is expected to pay the following dividends:

  There is a common phrase in business cash is king ldquocash

there is a common phrase in business cash is king. ldquocash flow is the life-blood of a company. without it a company

  Analysis in the capital budgeting process

What types of projects require the least detailed and the most detailed analysis in the capital budgeting process?

  Develop and implement operational plans

Explain what operations planning is, and detail the processes that should be followed to develop and implement operational plans. Outline the risk analysis procedures that might be followed and the procedures that would be followed to develop cont..

  Complete the first three rows of an amortization schedule

On January 1, 2012, Gundy Enterprises purchases an office for $250,000, paying $50,000 down and borrowing the remaining $200,000, signing an 8%, 30-year.

  Major asset classes given an example of each class

What are the major asset classes Given an example of each class?

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd