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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.
my unadjusted balance is not the same under credits and debits? And I can''t figure what went wrong.
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
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A bauxite mine was acquired at a cost of $1,500,000 and estimated to contain 6,000,000 tons of ore. During the year, 95,000 tons were mined and sold. Prepare the journal entry fo
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Jackson Corporation uses a standard cost system, concerned manufacturing overhead on the basis of machine hours. The company's overhead standards per unit are given below. Varia
Which type of error would cause an entry in the suspense account? A. A page total from the purchases journal was posted as $9780 rather than the correct figure of $9870. B. C
Accrual basis of accounting means that the costs or revenues of events are renowned in the period in which they happens; by the cash flows may take place in another accounting peri
Personal accounts --> Debit the benefit receiver, credit the benefit giver Real accounts --> Debit what comes in, credit what goes out Nominal Accounts --> Debit all expenses
Spin off is making new company by selling or distributing the shares of existing company
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