Reference no: EM131690583
Question - Assume a periodic inventory costing method.
(a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost.
(b) Which costing method gives the highest ending inventory? The highest cost of goods sold? Why?
(c) Explain why the average cost is not $6.
(d) For Extra Credit, up to 5 points, assume a perpetual inventory costing system. Compute the ending inventory and cost of goods sold as if half of the sales were made after August 12 and before August 23; and half of the sales were made after August 23 and before August 31. Show all your work and calculations. Discuss why the COGS and EI are different values under the perpetual method.
Date Explanation Units Unit Cost Total Cost
1-Aug Beginning inventory 120 $5 $600
12-Aug Purchase 370 $6 $2,220
23-Aug Purchase 500 $7 $3,500
31-Aug Ending Inventory 160
|
Speech to the troops at tilbury
: Explain in detail this speech what was happening who was coming what was the reason for this speech. Any special meanings from the speech.
|
|
Create a presentation about the learning process
: Explanation of the role of families in promoting the intellectual, social, emotional, physical growth, and well-being of children.
|
|
Define how does language influence the way people think
: Tell me some ways that we can improve our thinking? How is intelligence measured, and how does language influence the way people think
|
|
What virtues were demonstrated by her actions
: What aspects of Ms. Cooper’s character were virtuous and what virtues were demonstrated by her actions?
|
|
Compute the cost of the ending inventory
: Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost
|
|
Economic principles shape healthcare services and delivery
: What are the basic economic features of the ACA, and how do basic economic principles shape healthcare services and delivery?
|
|
Describe influences from brooks life
: After a close reading of the poem, describe influences from Brooks' life and from the times during which the poem was written.
|
|
To better manage and improve patient flow
: To better manage and improve patient flow, which two process improvement tools would you use? Why?
|
|
Review case of hong kong dollar and the chinese yuan
: Hong Kong Dollar and the Chinese Yuan. The Hong Kong dollar has long been pegged to the U.S. dollar at HK$7.80/$. When the Chinese yuan was revalued.
|