User Account

All Pages

Calculate ending inventory and cost of goods sold

Assignment Help Accounting Basics
Reference no: EM133051122

Question - During 2021, a company sells 354 units of inventory for $95 each. The company has the following inventory purchase transactions for 2021:

Date

Transaction

Number of Units

Unit Cost

Total Cost

Jan. 1

Beginning inventory

68

$60

$4,080

May 5

Purchase

161

62

9,982

Nov. 3

Purchase

188

65

12,220

 

 

417

 

$26,282

Required - Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO.

Reference no: EM133051122

Questions Cloud

Develop and approve recommendations for changes : Once the policy is implemented and has been operational for a period of time it will be necessary to review it.
Outline cvs health business strategies : What are CVS Health Competitive Advantages over its competitors since 2019 and today, were there any changes?
Degree of economic inequality in the united states : How would you characterize the degree of economic inequality in the United States? Has it increased or decreased in recent decades? Would you guess (or do you k
What are your thoughts on medical tourism : 1. What are your thoughts on Medical Tourism? 2. Do you like the ideas surrounding medical tourism in Dubai? Please explain.
Calculate ending inventory and cost of goods sold : During 2021, a company sells 354 units of inventory for $95 each. Calculate ending inventory and cost of goods sold
France troubled economy questions : In 2013 France's GDP was 0.3 percent lower than it was at the beginning of 2008, indicating a period of stagnation. In contrast, Germany was 2.6 percent ahead.
Qualities of charismatic and transformational leaders : Describe some key attributes/qualities of charismatic and transformational leaders? With reference
How to use the machine emergency stop buttons : Her head scarf got sucked into a machine and strangled her - an industrial accident to which there were apparently no witnesses.
Case study-uber technologies : Uber Technologies, Inc., commonly known as Uber, is a famous sharing economy enterprise. The company is based in San Francisco and has operations in over 900

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