Periodic inventory by three methods cost of merchandise

Assignment Help Accounting Basics
Reference no: EM13566811

Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 42 units @ $720 Mar. 10 Purchase 58 units @ $780 Aug. 30 Purchase 20 units @ $816 Dec. 12 Purchase 30 units @ $840 There are 48 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods. FiFo LIFO Weighted average cost.

Reference no: EM13566811

Questions Cloud

Esteban appleby certified public accountant cpa is an : esteban appleby certified public accountant is an assistant to the controller of summerfield consulting co. in his
Explain the hardball techniques discussed in this portion : american government the nation hardball by chris matthewsassignment book notes on part iv of the book hardball by chris
Lissa cos stock price is currently 2675 the risk-free rate : lissa co.s stock price is currently 26.75. a 6-month call option on lissas stock has a strike price of 25 and has an
A bond that pays interest forever and has no maturity date : a bond that pays interest forever and has no maturity date is a perpetual bond also called a perpetuity or a consol. in
Periodic inventory by three methods cost of merchandise : periodic inventory by three methods cost of merchandise sold the units of an item available for sale during the year
Establishment industries borrows 950 million at an interest : establishment industries borrows 950 million at an interest rate of 7.8. it expects to maintain this debt level into
If the investors required rate of return is 145 then price : if the investors required rate of return is 14.5 then price of a preferred stock that pays dividend of 1200 per year
New england electric has projected dividends of 272 in one : new england electric has projected dividends of 2.72 in one year and 3.10 in two years. if the stock is projected to
Consider the following budget information materials to be : consider the following budget information materials to be used totals 69750 direct labor totals 198400 factory overhead

Reviews

Write a Review

Accounting Basics Questions & Answers

  What amount may tad and mary claim

Assuming Tad attends school for 12 months, what amount may Tad and Mary claim as a child care credit (Ignore the income tax limitation)?

  Inform the president of any new internal control requirement

Inform the president of any new internal control requirements if the company decides to go public.

  Charles corp has outstanding accounts receivable totaling

charles corp. has outstanding accounts receivable totaling 6.9 million as of december 31 and sales on credit during the

  What is the debt-to-assets ratio

What is the debt-to-assets ratio

  What is the lowest price that marin could accept for the

marin company is currently producing 16800 units per month which is 77 of its production capacity. variable

  Prepare harley-davidson statement of cash flows

Prepare Harley-Davidson's statement of cash flows for the year ended December 31, 2004.

  What will the carrying value of the bonds be on december

What would be the answer to this question and how did you figure it? A company issues $20,000,000, 7.8%, 20-year bonds to yield 8%on January 1, 2007.

  What was net income-retained earnings

Assuming the only changes in retained earnings in 2009 were for net income and a $25,000 dividend, what was net income for 2009?

  Difference between a value-added and a non-value-added cost

What is the difference between a value-added and a non-value-added cost? Give an example of each. Participate in follow-up discussions by reviewing your classmates' posts and expanding upon what they have written regarding value-added and non..

  Basics of division return on investment

Wares is a division of a major corp. The following data are for the latest year of operations: division's return on investment

  What steps in accepting the engagement were violated

The managing partner of the firm decides to accept the engagement. A major factor in the decision is that the firm does not have any clients in the construction industry and this will provide valuable experience. He promptly calls the president an..

  Managers in foreign countries for national companies

What individual characteristics and qualifications should a company consider when choosing managerial candidates for foreign assignments?

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!

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