Solution-What is its cost of goods sold and ending inventory

What is its cost of goods sold and ending inventory

Reference no: EM132240384

Question - Shanda Lear's Lighting Company uses the periodic inventory system. During the month of July, it represents the following information:

JULY 1 (beginning inventory): 30 lights at $18 per light.

JULY 9 (purchase): 92 lights at $20 per light.

JULY 16 (purchase): 56 lights at $22 per light.

JULY 28 (purchase): 47 lights at $25 per light.

On July 31, a physical count reveals there are 60 lights in its inventory.

IF Shanda Lear's Lighting Company used LIFO for inventory costing, what is its cost of goods sold and ending inventory for the month of July?

Reference no: EM132240384

Questions Cloud

What were the major provisions of and the motivation : What were the major provisions of and the motivation behind the Public Utility Holding Company Act of 1935

What is an organizational life cycle : What is an organizational life cycle in regards to change management in an office?

How this training links to the organizational objectives : Explain the steps you would have taken to conduct a needs analysis. State how this training links to the organizational objectives.

How can an effective purchasing department : How can an effective purchasing department affect organizational performance?

What is its cost of goods sold and ending inventory : IF Shanda Lear's Lighting Company used LIFO for inventory costing, what is its cost of goods sold and ending inventory for the month of July

Importance of purchasing-supply management : Why are more top managers recognizing the importance of purchasing/supply management?

Create a strategic plan for your place of employment : Create a 600- to 900-word strategic plan for your place of employment or a company with which you are familiar. Include the following in your plan: Mission.

Describe the muscle groups in the neck and arms : Describe the muscle groups in the neck, arms and legs that might be involved in the movements described.

Provide an example that supports your point of view : Do you think this is the case? Why or why not? Provide an example that supports your point of view. Why is this?

User Account

All Pages

What is its cost of goods sold and ending inventory

Reference no: EM132240384

Reference no: EM132240384

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How many units should be scheduled for production

What is the total estimated cost of warranty repairs

Make journal entries and adjusting entries for year three

Analyze the impact of the shift in sales mix

What is the amount of underapplied or overapplied overhead

Construct the sanitary sewer for a new subdivision

Youve just been hired onto abc company as the corporate

Difference between the cost method and the equity method

Hacker aggregates mines and distributes various types of

How do managers use budgets specifically

Prepare journal entries for hunt company to record

Prepare journal entries to record transactions related to

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT