Compute the cost of inventory on June

Assignment Help Accounting Basics
Reference no: EM132917068

Question - The following information related to the merchandise inventory of a company: Inventory, June 1 units 1,000 Cost per unit $10 Purchases, June 1 units 4,000 cost per unit $12 Purchases, June 2 units 5,000 cost per unit $11.30 Sales during June amounted to 8,000 units. If the company uses a periodic inventory system and the weighted -average method, compute the cost of inventory on June 30?

Reference no: EM132917068

Questions Cloud

Develop muve or mmog : Looking at the massive growth of virtual worlds, one prominent Pakistani investor has approached you to develop a virtual world exclusively for Pakistani youth.
What amount of severance would you owe : Assuming that this fired employee had worked for your business for 4 years, what amount of severance would you owe him
Explanation of csr and the different csr approaches : Give a detailed explanation of CSR and the different CSR approaches.
Change management and conquer resistance : Explain change management and conquer resistance to change.
Compute the cost of inventory on June : If the company uses a periodic inventory system and the weighted -average method, compute the cost of inventory on June 30
What is the purpose of the performance : 1.estbalish the kind of relationships that might bridge stakeholders in the agency theory
Describe internal and external factors : Describe internal and external factors that contribute to a team becoming and remaining innovative. Make sure you include: team characterictics, the role of gro
Find best system in the world in the united states : Do we have the best system in the world in the United States, or just the best healthcare for those who can access/afford it? Provide References.
Find the margin of? error : A sample of 250 orders for? take-out food at a local pizzeria found that the average cost of an order was ?$21 with s=?$16.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What tax goals are they trying to accomplish

Nicole's gift to Joe is a bottle of cologne (value of $32). What tax goals are they trying to accomplish? Will their plan work

  Compute the manufacturing overhead

During the month of April, direct labor cost totaled $25,000 and direct labor cost was 25% of prime cost. Compute the manufacturing overhead

  Prepare and submit a Statement of Financial Position

The Retained Earnings balance is a final calculation for the year. Prepare and submit a Statement of Financial Position (balance sheet) as at the end of year

  What is the gain on redemption

Unamortized Bond Issue Costs 90,000. If 30% of the bonds are retired at 101 on January 1, 2018 what is the gain on redemption? Show all work

  What is need to be done to resolve the system implementation

How you can help Mr. Simpson to guide him through the acquisition process for the new AIS? What's need to be done to resolve the system implementation process.

  Nonvalue-added costs in a doctor office

When comparing various divisions within a company, describe what problems can arise from evaluating divisions that have different accounting methods, as described in Chapter 11 of your text. Cite three examples of accounting methods that could ca..

  Calculate the adjusting entry made by Fragmental Co

Assuming adjusting entries are only made at year-end, calculate the adjusting entry made by Fragmental Co. on December 31

  Effective-interest amortization problem

A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. Using effective-interest amortization, what will the carrying value of the ..

  What amount will jb report for net income

JB Company had net income of $100,000 for year before adjusting entries. If the following adjustments are necessary, what amount will JB report for net income?

  Recalculate after-tax cash flows and net present value

Use an Excel spreadsheet and recalculate after-tax cash flows and net present value for the below scenarios: Sales units at 10% higher than estimated.

  What is nolan return on assets

Nolan manufactures, markets, and sells cellular telephones. The average total assets for Nolan is $250,000. In its most recent year.

  How many years will have to wait to buy the house

For a house, but have only $4,000, which you can invest at 12% compounded annually. How many years will you have to wait to buy the house?

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