Reference no: EM13872478
Purpose: This exercise will allow you to practice performing calculations to determine inventory cost under each of three costing (pricing) methods, using both the periodic and the perpetual systems.
The Griggs Company is a multi-product firm. Presented below is information concerning one of their products, Infusion-39:
|
Date
|
Transaction
|
Quantity
|
Cost
|
|
1/1
|
Beginning inventory
|
1,000
|
$12
|
|
2/4
|
Purchase
|
2,000
|
18
|
|
2/20
|
Sale
|
2,500
|
|
|
4/2
|
Purchase
|
3,000
|
22
|
|
11/4
|
Sale
|
2,000
|
|
Instructions
Compute the cost of the ending inventory, assuming Griggs uses:
(a) Periodic system, FIFO cost method.
(b) Perpetual system, FIFO cost method.
(c) Periodic system, LIFO cost method.
(d) Perpetual system, LIFO cost method.
(e) Periodic system, average-cost method.
(f) Perpetual system, moving-average-cost method.
|
List of blunders to avoid in strategic planning
: A list of 20 blunders to avoid in strategic planning- Provide a list of no less than 20 blunders to avoid in strategic planning formatted as simple sentences and /or phrases
|
|
Particular automobile-capable of an acceleration
: At highway speeds, a particular automobile is capable of an acceleration of about 1.6m/s2. At this rate, how long does it take to accelerate from 80 km/h to 110 km/h?
|
|
Assume that all employees were paid through
: In addition the city made a contribution of $ 100,000 to the city operated pension system Assume that all employees were paid through the General Fund.
|
|
Higher price and quantity in equilibrium
: higher price and quantity in equilibrium
|
|
Compute the cost of the ending inventory
: Compute the cost of the ending inventory, assuming Griggs uses: Periodic system, FIFO cost method, Perpetual system, FIFO cost method and Periodic system, LIFO cost method.
|
|
Rest and falls under the influence of gravity
: An object starts from rest and falls under the influence of gravity. Draw graphs of
|
|
Distinguish between portfolio investment and foreign direct
: distinguish between portfolio investment and foreign direct investment
|
|
What you remember how your teacher differentiate instruction
: What do you remember about how your own teachers differentiated instruction in order to meet the needs of all the children in your childhood classroom(s)?
|
|
The city had not yet started the training program.
: The bookkeeper recorded the advance in the Revenues account. As of December 31, however, the city had not yet started the training program.
|