User Account

All Pages

What is the cost of the goods sold for november

Assignment Help Financial Accounting
Reference no: EM132933141

The inventory data for an item for November are:

Nov. 1 Inventory 23 units at $19
4 Sold 11 units
10 Purchased 32 units at $23
17 Sold 24 units
30 Purchased 21 units at $22

Problem 1: Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?

a. $713
b. $989
c. $761
d. $922

Reference no: EM132933141

Questions Cloud

Find the cost of goods sold for the sale of may : Assuming that the company uses the perpetual inventory system, Find the cost of goods sold for the sale of May 20 using the LIFO inventory cost method.
How much is the gain on the sale : Pizzicato Co. incurred selling costs of P50,000. Pizzicato Co. prorates full-year depreciation on the basis of the nearest month. How much is the gain (loss)
Determine the ending inventory for the month of may : Assuming that the company uses the perpetual inventory system, Determine the ending inventory for the month of May using the LIFO inventory cost method.
Determine the capital balances of Man : The capital accounts of Man and Mon Partnership on Sept. 30, 2016 were: Determine the capital balances of Man, Mon and Gal after Gal's admission
What is the cost of the goods sold for november : Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? Nov. 1 Inventory 23 units at $19
Are any bacteria made of more than one cell : Are any bacteria made of more than one cell? Explain the health effects of Parkinson's starting in the olfactory bulb
What is the ending inventory balance at the end of the year : The firm uses the periodic system, and there are 22 units, What is the ending inventory balance at the end of the year according to the FIFO method?
Define basic concepts of responsibility and accountability : Define the basic concepts of responsibility, accountability, and liability as applied to ethical decisions. How are these concepts related
Determine the may inventory balance using the fifo inventory : Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method.

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