What is the total cost of the ending inventory

Assignment Help Accounting Basics

Reference no: EM131527735

Question: The following units of a particular item were available for sale during the year:

Beginning inventory 20 units at $45

Sale 15 units at $80

First purchase 31 units at $47

Sale 27 units at $80

Second purchase 40 units at $50

Sale 35 units at $80

The firm uses the perpetual inventory system, and there are 14 units of the item on hand at the end of the year. What is the total cost of the ending inventory according to (a) fifo, (b) lifo?

Reference no: EM131527735

Questions Cloud

Determine whether yolanda should consider buying the robots : Determine whether Yolanda should consider buying the robots. Given the current daily cost of robots, what artist wage would make Yolanda.

Identify three business or sociocultural considerations : Paper is about starting my own HOT SHOT business - Summarize your plan and why it deserves to be funded.

Increased in the us but remained unchanged in mexico : What would happen to the dollar/peso exchange rate if the interest rate increased in the US but remained unchanged in Mexico?

What is the firm market value capital structure : What is the firm's market value capital structure? what rate should the firm use to discount the project's cash flows?

What is the total cost of the ending inventory : The firm uses the perpetual inventory system, and there are 14 units of the item on hand at the end of the year. What is the total cost of the ending inventory.

Prepare a presentation about wireless attacks : Prepare a Presentation about Wireless attacks. Detailed description of the area researched, Technology involved in the area and Future trends in the area.

Negative view of central banks : Libertarian politicians and Austrian economists generally have a very negative view of central banks such as the Federal Reserve.

Examine the book-value balance sheet : Examine the following book-value balance sheet for University Products Inc. What is the market debt-to-value ratio of the firm?

Calculate the before-tax and after-tax IRR, and NPW : Calculate the before-tax and after-tax IRR, and NPW using manual solutions.

User Account

All Pages