User Account

All Pages

Compute the cost of the ending inventory

Assignment Help Accounting Basics
Reference no: EM133062719

Question - During April, Poole Company sold 900 units of Product Y. The beginning inventory and purchases during the month were as follows:

Apr. 1 Beginning inventory 200 units @ $1

Apr. 5 Purchase 200 units @ $2

Apr. 10 Purchase 200 units @ $3

Apr. 15 Purchase 200 units @ $4

Apr. 20 Purchase 200 units @ $5

Apr. 25 Purchase 200 units @ $6

Compute the cost of the ending inventory and cost of goods sold under each of three methods: (a) average-cost, (b) FIFO, and (c) LIFO. (Show your work.) ROUND TO THE NEAREST DOLLAR.

Reference no: EM133062719

Questions Cloud

Discuss the problems with empirically testing : Explain why, under the CAPM framework, the standard deviation of an asset's returns is not a good measure of risk.
Explain the moral system of Kant : Explain the moral system of Kant. Explain what Kant regards as the only good and why. Explain the categorical imperative. What it is and how it works
Calculate the profit and total revenue : The business incurred total expenses of $172,800 for 2021, of which $122,000 was for wages and $50,800 was for advertising. Calculate profit and total revenue
Calculate the increase or decrease in net income : Calculate the increase or decrease in net income Bonita will realize by accepting the special order, assuming Bonita has sufficient excess operating capacity
Compute the cost of the ending inventory : Compute the cost of the ending inventory and cost of goods sold under each of three methods: (a) average-cost, (b) FIFO, and (c) LIFO
Prepare journal entries without explanations to record : Kazue Corporation has 250,000 authorized shares of common stock with 160,000 shares issued. Prepare journal entries without explanations to record
Calculate the maximum allowable risk of incorrect acceptance : Calculate the maximum allowable risk of incorrect acceptance by the substantive tests of the detail transactions
What is the number of units that will need to be purchased : If the beginning inventory is 100, and the current month's sales are 14,000, what is the number of units that will need to be purchased for the current month
What is the standard cost per chest for labor : All employees are cross-trained so they are all paid the same amount per hour, $17.50. What is the standard cost per chest for labor

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate dividend yield for year one

Calculate the value of the stock today. Calculate P1^ and P2^. Calculate the dividend yield and capital gains yield for Years 1, 2, and 3.

  Who are the firm independent auditors

Provide two examples of where historical cost is used within the financial statements. State both the account name and the amount for each account

  Using monetary unit sampling

What issues do you see with using monetary unit sampling (MUS)? Do you think the risk is higher or lower for an investigator if they use this method? Why?

  Evergreen company accepted a credit card account receivable

1. in a period of rising prices which inventory cost flow method will produce the lowest amount of cost of goods

  Write down a 1050- to 1400-word paper in which you describe

writenbspa 1050- to 1400-word paper in which you explain the importance of your selected businesss vision mission and

  Compute Gross estate under Absolute Community of Property

Personal properties inherited by Mr. Jose during marriage 250,000. Compute the Gross estate under Absolute Community of Property

  Compute and illustrate the effect on the income statement

Compute and illustrate the effect on the income statement for the year ended December 31, Year 1, and for the balance sheet as of December 31, Year 1

  Make the adjusting entries on December

The sales included P25,000 deposit given by a customer for merchandise to be delivered in 2021. Make the adjusting entries on December 31, 2020

  Opportunity cost of capital

The rate o a five-year CD is 6 percent. Should you refinance your mortgage or invest the $3,000 in a CD? The 6 percent CD rate is your opportunity cost of capital.

  How much will he have in his RRSP

Suppose Evan contributes $2,600 to his RRSP at the end of every quarter for the next 15 years, How much will he have in his RRSP

  Terner company estimates its bad debts as 70 of its annual

at year-end terner company estimates its bad debts as .70 of its annual credit sales of 688000. terner records its bad

  Remainder of the outstanding bonds

The remainder of the outstanding bonds is reacquired by exercising the bonds' call feature. In the final analysis, how much was the gain or loss experienced by Hurst in reacquiring its 8% bonds? (Assume the firm used straight-line amortization.) S..

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