Compute the cost of the ending inventory

Assignment Help Accounting Basics
Reference no: EM132686482

Problem - Splish Brothers Inc. had 165 units in beginning inventory at a total cost of $19,800. The company purchased 330 units at a total cost of $59,400. At the end of the year, Splish Brothers had 80 units in ending inventory.

Required - Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost.

Reference no: EM132686482

Questions Cloud

Explain role of communication in effective leadership : Describe role of communication in effective leadership
Calculate the price of bonds for two-year quebec : Calculate the price of bonds for 2-year Quebec 5.00% semi-annual, $100 par value. Investors require a yield to maturity of 6% compounded semi-annually.
What happens on the balance sheet : Plant assets are not revalued under U.S. GAAP, but revaluation is an option under IFRS. In your post, discuss what happens on the balance sheet
Which of the canadian bonds would likely show : The bond market has rallied (prices have increased). Which of the canadian bonds would likely show the highest % price increase? Why?
Compute the cost of the ending inventory : Splish Brothers Inc. had 165 units in beginning inventory at a total cost of $19,800. Compute the cost of the ending inventory
Document a software requirement specification : Understand the ABC Pty Ltd case before proceeding to answer the questions in Assessment Tasks section. Note that every piece of information provided
Explain the relationship between a bond yield and price : Explain the relationship between a bond's yield. Which would result in the largest % change in the bond's price, a rise in the yield to 5% or a fall to 3%? Why?
Explain growth and expansion strategy : Can you elaborate and provide more specifics on how the Mayo Clinic has embraced the growth and expansion strategy?
Calculate the total additional sales revenue : The owner wants a net income after tax of $75,000. Calculate the total additional sales revenue needed to support the desired net income

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