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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.
Lego Toys is planning to produce new toys at its factories. The setup cost of the production facilities, production costs and profits for each toy are given below: Toy Setup c
2 deprecation on equipment is calculated at 10% per annum on cost price new equipment for R400 was purchased on 1 December 2012 and has been recorded
The Institute of Management Accountants previously the National Association of Accountants is an organization with approximately 70,000 members consisting of management accountants
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. Com
Exercise 5-3 Analyzing and recording merchandise transactions-both buyer and seller LO P1, P2 Santa Fe Company purchased merchandise for resale from Mesa Company with an invo
Jim owns and manages a small business, which provides an office design service, as well as buying and selling office furniture. Jim is a sole trader who manages all aspects of the
formation of partnership and changes in constitution of parternship
#What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks?
i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
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