User Account

All Pages

What is the cost of the inventory on January

Assignment Help Accounting Basics
Reference no: EM132686395

Problem - Lockout Company revealed the following inventory transactions:

Jan. 1 Beginning balance, 16,000 units @ P140

Jan. 5 Purchased 4,000 units @ P150

Jan. 10 Issued 15,000 units to production

Jan. 15 Purchased 20,000 units @ P160

Jan. 16 Returned 1,000 units to supplier from January 15 purchase

Jan. 25 Issued 8,000 units to production

Jan. 26 Production returned 4,000 units to storeroom from the January 25 issue

Jan. 31 Purchased 30,000 units @ P150

Required - What is the cost of the inventory on January 31 using FIFO method?

Reference no: EM132686395

Questions Cloud

Pestle analysis of ikea entering into saudi arabia : Pestle analysis of IKEA entering into Saudi Arabia? (Provide good answers with reference)
Discuss the effect of the increase or decrease on the pbo : Discuss the effect of the increase or decrease on the PBO. How is this change reported in the financial statements and what other accounts are affected?
Discuss about los angeles international airport : Discuss about Los Angeles international Airport (LAX) customer segments and conduct secondary research on their economic factors that has an impact on the airpo
Find and solve cost of ending inventory and cost of good : Assume Orion Iron applies its inventory costing method, Calculate the cost of ending inventory and the cost of goods sold using the FIFO method.
What is the cost of the inventory on January : Lockout Company revealed the following inventory transactions: Jan. 5 Purchased 4,000 units @ P150. What is the cost of the inventory on January
List the preparation methods : What are three quality indicators for whole fresh fish that you should look for before preparing this dish?
Human anatomy is the study of structure : Define and describe the six levels of organization of the body and explain the eleven major organs systems in the body.
What the debt to asset ratio is : Operating profit of 50,000interest expense of 10,000 tax expense of 20,000 total equity of 125,000 and total debt of 275,000. Their debt to asset ratio is?
Blood substitute : Read "In Search of a Blood Substitute" Which of the hemoglobin manipulation approaches do you believe is the best approach?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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