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Weighted-average under periodic inventory procedure the weighted-average method of inventory costing is a income of costing ending inventory using a weighted-average unit cost. Companies most frequently use the weighted-average method to determine a cost for units that are basically the same such like identical games in a toy store or identical electrical tools in a hardware store. Ever Since the units are alike firms can assign the same unit cost to them. In periodic inventory procedure a company conclude the average cost at the end of the accounting period by dividing the total units purchased plus those in beginning inventory into total cost of goods available for sale. The ending inventory is carrying out at this per unit cost. To see how a company utilizes the weighted-average method to determine inventory costs using periodic inventory procedure observe Exhibit 55. Note that we calculate weighted-average cost per unit by dividing the cost of units available for sale USD 690 by the total number of units available for sale 80. Therefore the weighted-average cost per unit is USD 8.625 meaning that every unit sold or remaining in inventory is valued at USD 8.625.
Do you enjoy college life? Do you enjoy teaching others? If therefore you might want to consider a career as a college professor. Even though a position as a college professor may
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
What does receiving a bid do to your business records?
DEFINE THE FICA TAX PAYABLE AND SUTA TAX PAYABLE FICA TAX PAYABLE-OASDI. Same account is used to record both employees' and the employer's share. Credited to record taxes i
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what is the implication of applying accounting concept wrongly
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Q. What is Articulate? The fundamental accounting concept of the double-entry method of recording transactions. Under the double-entry approach each transaction has a two-sided
A rule in economics and law that says attorney fees must be paid by every party included in litigation - even the party that wins the case. An exception to the American rule can ta
Inventory is habitually the largest and most important asset owned by a merchandising business. The inventory of some companies similar to car dealerships or jewellery stores may c
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