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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.
Why is it important for accounting information to be accurate and timely?
what is an accounting cycle
Q. What is Prepaid expense? A prepaid expense is an asset pending assignment to expense such as prepaid rent, prepaid insurance and supplies on hand. Note that the character of
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
What is uses of Purchases journal Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accou
Concept of Flow of Funds : It refers to the 'Change in Funds' or 'Change in Working Capital'. That is, any increase or decrease in Working Capital. In business, daily, numerous t
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
WHERE DO I START? I have two questions QUESTION1 On March 31, 2010, our company, Harry Yolo, purchased a 100,000. 8% 10-year bond for 102 from Fish Gimp, due in 6 years & 8 months
Two techniques of accounting for inventory are perpetual inventory procedure and periodic inventory procedure. Under perpetual inventory procedure the inventory account is constant
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
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