Calculate ending inventory and cost of goods sold

Assignment Help Accounting Basics
Reference no: EM131567752

Problem -

During 2018, a company sells 25 units of inventory. The company has the following inventory purchase transactions for 2018:

Date

Transaction

Number of units

Unit Cost

Total Cost

Jan. 1

Beginning inventory

14

$52

$728

Sep. 8

Purchase

15

54

810

 

 

29

 

$1,538

Required - Calculate ending inventory and cost of goods sold for 2018 assuming the company uses FIFO with a periodic inventory system.

Reference no: EM131567752

Questions Cloud

What approaches organizations can take to motivate employees : Next, explain what approaches organizations can take to motivate their employees other than pay incentives. Explain the main reasons that these other incentive.
What happens when there are problems with communication : What happens when there are problems with communication in the workplace (re-work, low morale, product delays, dissatisfied customers, etc.)?
What combination of a and b represents the equipment : Suppose that A is the multiset that has as its elements the types of computer equipment needed by one department of a university and the multiplicities.
Calculate ending inventory and cost of goods sold : Required - Calculate ending inventory and cost of goods sold for 2018 assuming the company uses FIFO with a periodic inventory system
Determine the division of the profit or loss : A partnership is formed by Robert investing $150,050 and Linda investing $100,000. Determine the division of the profit or loss assuming a profit $200,000
Distinguish between an organizational weakness : How would one distinguish between an organizational weakness and a threat to the organization?
Find the domain and range of the given functions : The function that assigns to each pair of positive integers the maximum of these two integers.
What approaches organizations can take to motivate employees : Next, explain what approaches organizations can take to motivate their employees other than pay incentives. Explain the main reasons that these other incentive.

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.

  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!

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