User Account

All Pages

Calculate cost of goods sold and ending inventory

Assignment Help Accounting Basics
Reference no: EM133121583

Question - Kitty company uses the periodic inventory system The company's beginning inventory and inventory purchases during Dec 2021 were as below:

Dec 01: Beginning inventory, 85 units @ $4 per unit.

Dec 9: Inventory purchased, 192 units @ $5 per unit.

Dec 22: Inventory purchased, 160 units @ $7 per unit.

During Dec, Kitty company sold 268 units. Calculate cost of goods sold and ending inventory for Dec 2021 using the Weighted Average cost method only.

Reference no: EM133121583

Questions Cloud

Calculate the return on net operating assets : The earnings from operating assets for 2012 were £280,000. Calculate the Return on Net Operating Assets (RNOA) using average book values
Find the steady states of the Verhulst model : Find the steady states of the Verhulst model and Draw a plot representing the observed data and the fitted curve, clearly labelling it
Prepare the current liabilities section of the statement : Prepare the current liabilities section of the statement of financial position at January 31, 2020. Assume no change in accounts payable
Explain the concept of planning materiality : The audit manager computed 5% of net income to get to a materiality level of $575,000. Explain the concept of planning materiality
Calculate cost of goods sold and ending inventory : During Dec, Kitty company sold 268 units. Calculate cost of goods sold and ending inventory for Dec 2021 using the Weighted Average cost method only
Bid-offer spread for forward prices : A trader owns a commodity as part of a long-term investment portfolio. The trader can buy the commodity for $951.60 per ounce and sell it for $949 per ounce. Th
Statutorily required to adopt a balanced budget : City department heads have submitted expenditure requests to you that exceed your projected revenue. This is very common so spending decisions must be made. As
Content of character or color of skin : Explain briefly, in your opinion, what is more important the content of character or color of skin?
What is nokia current dividend policy : What is Nokia's current dividend policy? What would you recommend Jorma Ollila to consider when evaluating his company's dividend policy?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd