User Account

All Pages

Compute the cost of goods sold for the sale

Assignment Help Accounting Basics
Reference no: EM132516623

Question - Intercontinental, Inc., uses a perpetual inventory system. Consider the following information about its inventory: July 1, purchased 10 units for $910 or $91 per unit; July 3, purchased 15 units for $1,590 or $106 per unit; July 14, sold 20 units; July 17, purchased 20 units for $2,300 or $115 per unit; July 28, purchased 10 units for $1,190 or $119 per unit; July 31, sold 23 units.

Using weighted average, compute the cost of goods sold for the sale of 23 units on July 31 and the inventory balance at July 31?

Reference no: EM132516623

Questions Cloud

Compute the number of component kits transferred : Compute the number of component kits transferred from the cutting dept to the finishing dept. Compute the equivalent units of input resources
Prepare the schedule of cost of goods manufactured : Nani's Fashions, Prepare the schedule of cost of goods manufactured for Nani's fashion. Prepare an income statement for the current year.
What amount of Equity Income should Hillcrest report : Preston reported net income of $500,000. What amount of Equity Income should Hillcrest report on its income statement for the year of acquisition
Prepare the schedule of cost of goods sold for nani fashions : Prepare the schedule of cost of goods sold for Nani's Fashions and explain the information provided by the schedule of cost of goods sold.
Compute the cost of goods sold for the sale : Using weighted average, compute the cost of goods sold for the sale of 23 units on July 31 and the inventory balance at July 31
What would the depreciation expense : Bronson's fiscal year end is June 30. What would the depreciation expense be for 2020 if Bronson Co. used the double-declining-balance method
How management accounting information could assist : List and briefly describe five examples of how management accounting information could assist in managing resources at a Banking corporation.
How many units must be produced during the month : At the start of the month, and plans to have 12,500 units on hand at the end of the month, how many units must be produced during the month?
Calculate the per share value of Rizzo Company : Calculate the per share value of Rizzo Company if the cumulative present value of horizon period FCFF is $8,000, present value of terminal period FCFF is $6,200

Reviews

Write a Review

Accounting Basics Questions & Answers

  Fundamentals of financial accounting

Using Home Depot, Inc. 2008 Annual Report located in Appendix A of the text, Fundamentals of Financial Accounting, prepare a 1,050-1,750-word paper in which you answer the following questions:

  Offsetting these factors is the observation that the

svi is a large securities dealer. last year the company made 150000 trades with an average commission of 60. because of

  How much Baltimore Company should report for investment

Use this information to determine, how much Baltimore Company should report for its investment in Towson Company on December 31, 2018

  What is acceptable audit risk

What is acceptable audit risk? What is it effect on evidence accumulation? What are the five components of internal control

  Prepare pharoah journal entries

Prepare Pharoah's journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization

  What is the markup on variable costs needed to break even

Nana Company has the following budgeted costs for 10,000 units: What is the markup on variable costs needed to break even

  In 2010 thornton sold 3000 units at 500 each variable

in 2010 thornton sold 3000 units at 500 each. variable expenses were 250 per unit and fixed expenses were 200000. the

  The iasb based in london england was established with the

the iasb based in london england was established with the goal of developing a set of international accounting

  What is the value of currency swap for company a

The next cash flow exchange will occur one year from today. If the current USD/GBP spot rate XNUSD/GBP = 1.39, what is the value of currency swap for company

  Prepare the entry to record the interest expense

(a) Prepare the entry to record the interest expense at October 1, 2014. Assume that accrued interest payable was credited when the bonds were issued.

  The effective interest rate for these bonds is

On April 1, Braintree Corporation issued 10%, ten-year, $300,000 bonds at 106. The effective interest rate for these bonds is

  What would be the total income or loss

Question: If Activity 1 were sold at an $18,000 gain, what would be the total income or loss from the four activities

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