User Account

All Pages

Calculate ending inventory and cost of goods sold

Assignment Help Accounting Basics
Reference no: EM131750574

Problem - Assume the following data for Windy Road Co. for November 2010:

Beginning inventory Nov. 1         6 units at $80 each

Sale Nov. 3                               2 units at $120 each

Nov. 6 purchase                        10 units at $90 each

Sale Nov. 8                               6 units at $110 each

Sale Nov. 9                               3 units at $110 each

Required:

1) Calculate ending inventory and Cost of Goods Soldfor Windy Road Co. assuming the  moving weighted-average cost method is being used.

2) Calculate ending inventory and Cost of Goods Sold for Windy Road Co. assuming the  FIFO cost method is being used.

Reference no: EM131750574

Questions Cloud

Discuss how much net income did the firm report in fiscal : shareholders that reduced retained earnings during the year by 1,802 million. How much net income did the firm report in fiscal 2013
Calculate the value of the destroyed ending inventory : Goodwood Inc. wants to estimate inventory destroyed by flood. Its average gross profit percentage is 75%. Calculate the value of the destroyed ending inventory
Discuss the relevance of the article to the ais : the article and summarize the key points for your peers. Discuss the relevance of the article to the AIS and the influence control has on the selected cycle
Which way would finance the truck : You have decided to acquire a truck costing $ 10,000. You are offered a 4-year lease of $2,800 per year payable at the beginning of each year.
Calculate ending inventory and cost of goods sold : Calculate ending inventory and Cost of Goods Sold for Windy Road Co. assuming the FIFO cost method is being used
Define marginal tax rate purchase or lease the asset : A manufacturer of farm equipment offers to lease or sell a piece of machinery that has a useful life of 5 years with no salvage value.
Evaluate your current position : Given your responses to the assignments and some demands for me to provide you mere rules where would you truly evaluate your current position?
Employee involvement programs : Do you or someone you know work for a company, with Employee Involvement Programs?
What is the after-tax cost implicit in leasing : A firm has decided to acquire a particular asset. Annual lease payments, to be made at the end of each year, amount to 20 percent of the assets original value.

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