User Account

All Pages

What amount should the inventory be valued

Assignment Help Financial Accounting
Reference no: EM132799806

Question - Oust The Turtle Now imported goods at a cost of P620,000, including P40,000 non-refundable import duties and P10,000 recoverable purchase taxes. The risks and rewards of ownership of the imported goods were transferred to the retailer upon collection of the goods from the harbor warehouse. Freight costing P10,000 with terms FOB Shipping Point was paid by Oust The Turtle upon delivery. A further P4,000 in delivering the goods to its customer. Further selling costs of P6,000 were incurred in selling the goods. What amount should the inventory be valued?

a. 624,000

b. 614,000

c. 610,000

d. 620,000

Reference no: EM132799806

Questions Cloud

What is a dynamic work station : 1. How do you minimize any dangers that may lurk unnoticed in the office?
Which one appeal would you focus onto convince your ceo : Imagine that you recently read an article that highlights the benefits of a four-day workweek. You intend to persuade your company's CEO that this is a viable.
What is maslow hierarchy of needs : What is Maslow's Hierarchy of needs and why it is important in terms of employee motivation.
What amount should be reported as total current liabilities : Question - GALLERY Company provided the following data at year-end - What amount should be reported as total current liabilities
What amount should the inventory be valued : Freight costing P10,000 with terms FOB Shipping Point was paid by Oust The Turtle upon delivery. What amount should the inventory be valued
Explain the key elements of the event bid process : Explain the key elements of the event bid process, and provide an example to show what the event rights holder may be looking for in a host.
Who was the focus of the resource : Who was the focus of the resource (e.g., first graders? parents? etc.)? What was the resource discussing? What did it suggest? What were the findings?
When does unrelated diversification make sense : When does unrelated diversification make sense? Why do most diversification strategies fail?
Case study of an achievement-oriented corporations : Read the Case Study of an Achievement-oriented corporations in Western countries. And then answer the questions at the end of the case.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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