User Account

All Pages

Calculate the value of closing inventory

Assignment Help Accounting Basics
Reference no: EM131819408

Closing inventory of 7 units at R150 each on 31 December 2014

60 units at R150 each were purchased on 30 May 2015

55 units at R170 each were purchased on 31 October 2015

During the year (jan-Dec 2015) smartphoneproctective covers were sold at R200 each.

Required:

Calculate the value of closing inventory as at 31 December 2015 and gross profit for the year ended 31st December 2015 using the weighted average cost method

Reference no: EM131819408

Questions Cloud

Calculate the selling price per unit if the profit per unit : Calculate the selling price per unit if the profit per unit is R2, Calculate the new break -even quantity and value selling price is decreased by 10%
Calculate the initial tax and additional tax : The IRS deficiency notice was mailed on august 1, 2013. Calculate the initial tax for 2010, 2011, and 2012. Calculate the additional tax for 2013
The differences between the two within security risks : Outline the pros and cons of the two alternatives and make a recommendation to Fred about which is better.
Prepare the current assets section of the balance sheet : Prepaid Insurance $9,500; Accounts Payable $77,000; Cash $30,000. Prepare the current assets section of the balance sheet
Calculate the value of closing inventory : Calculate the value of closing inventory as at 31 December 2015 and gross profit for the year ended 31st December 2015
Determine which three attacks you want to include : Determine which three (3) attacks you want to include in your presentation and provide a brief description of each.
How to report accounts receivable on the balance sheet : Applying the allowance method (percent-of-sales) to account for uncollectibles During its first year of operations, Fall Wine Tour earned net credit sales.
Financial futures market to offset interest rate risks : What is meant by "hedging in the financial futures market to offset interest rate risks"?
What is the amount of discount on these bonds at issunace : What is the amount of the discount on these bonds at issunace

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