Calculate ending inventory and cost of goods sold

Assignment Help Financial Accounting

Reference no: EM131213784

Assume the following data for Smooth Sailing Co. for November 2010:

Beginning inventory Nov. 1 8 units at $40 each

Sale Nov. 3 5 units at $130 each

Nov. 6 purchase 12 units at $44 each

Sale Nov. 8 7 units at $135 each

Sale Nov. 9 3 units at $135 each

Required:

Calculate ending inventory and Cost of Goods Sold for Smooth Sailing Co. assuming the moving weighted-average cost method is being used.

Received Sold Balance

Date Qty. Cost Amt. Qty. Cost Amt. Qty. Cost Amt.

Reference no: EM131213784

Questions Cloud

Determine the total value of investment : Determine the total value of your investment. Provide your final opinion / assessment of your investments. Did you make money or lose money? Discuss your results and, based on hindsight, describe what you would do differently.

Creating a wbs for the construction of a house : Assignment - Creating a WBS for the Construction of a House. Using Microsoft Word, create a work breakdown structure for the house build that contains at least three levels of detail. Be sure to use proper labeling and numbering

Create an array of objects of the sub-class : Create an array of objects of the sub-class. Add two objects to the array. Loop through the array and print what each element is constructed from.

Functionality of a generic shopping basket : In this exercise, you are asked to write the functionality of a generic shopping basket; you will use this in several subsequent project exercises. Write a set of JSP pages that displays a shopping basket of items and allows users to add, remove, ..

Calculate ending inventory and cost of goods sold : Assume the following data for Smooth Sailing Co. for November 2010: Calculate ending inventory and Cost of Goods Sold for Smooth Sailing Co. assuming the moving weighted-average cost method is being used.

What is the mixture of monetary and fiscal policies : What is the mixture of monetary and fiscal policies that can cure each of the following imbalances?- Rising inflation and overall payments deficit. - Rising inflation and overall payments surplus.

Prepare sales budget for the last three months of the year : Maid company sells a single product for $12 per unit. Sales estimates (in units) for the last four months of the year are as follows: September 50,000 units. Prepare a sales budget for the last three months of the year, including estimated collection..

Write a fully structural design for the given circuit : Barrel shifter is used in most of the high performance computing system. Write a fully structural design for the above circuit and simulate it for the correct functionality.

Capital budgeting decision : What four mistakes are commonly made when estimating the WACC, and how do these mistakes arise? If the Fed decides to increase the interest rates significantly, how would that impact your capital budgeting decision?

User Account

All Pages