Calculate the cost of goods sold

Assignment Help Accounting Basics
Reference no: EM132621370

Question - Orbit, Inc. has sales of $28,000, beginning inventory of $3,500, purchases of $17,500, and ending inventory of $4,900. Calculate the cost of goods sold?

a. $21,000.

b. $11,900.

c. $16,100.

d. $28,000.

Reference no: EM132621370

Questions Cloud

Characterising the neurotransmitter mode of action : In characterising the neurotransmitter's mode of action, you realise that it is normally broken down through enzymatic destruction by the enzyme "excitamaciate"
How do make the journal entries to record issuance of bomds : How do Make the journal entries to record the issuance of the bonds and the accrual of interest and the premium amortization on December 31, 2017.
How much gain does Avocado recognize : Avocado, Inc. purchased a $100,000 machine and deducted $70,000 of depreciation before selling it for $80,000. How much gain does Avocado recognize
Prepare cash flow from operating activities statement : Prepare cash flow from operating activities statement.sold=72000/-, total sales= 750,000/-, credit sales =350,000/-, rent received=8000/-
Calculate the cost of goods sold : Orbit, Inc. has sales of $28,000, beginning inventory of $3,500, purchases of $17,500, and ending inventory of $4,900. Calculate the cost of goods sold
Make the journal entry to record the redemption on jan : Make the journal entry to record the redemption on Jan 1, 2018. Prepare journal entry to record the redemption if Wiley decides to redeem
Create work breakdown structure : Create a Work Breakdown Structure (WBS) and project schedule for the Learning Software Project.
Record the payment of first three installments : The terms provide for annual installment payments of $74,515 on December 31. Record the payment of first three installments.
Journalize the transactions for chen corporation : Journalize the transactions for Chen Corporation. June 17 Announced a 5-for-1 stock split. The market price per share prior to the announcement was $25.5.

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