Compute the inventory at may 30 using lifo

Assignment Help Financial Management
Reference no: EM132386432

Question

Adams Bruce Company record of transactions for the month of May was follows. Purchases.

May 1 balance on hand 6..0@$6. May 4. [email protected] .

May 8. [email protected]. May 13. [email protected]. May 21. 700@ 6.6. May 29 . [email protected]. Sales. May 3 ...0@10.

April 9. 1..0@10. May 11. 6..0@11. May 23. 1200@11 . May 27. 900@12

1. The periodic inventory records are kept in units only compute the inventory at may 30 using LIFO and average cost.?

2 .The perpetual inventory records are kept in dollars find the inventory using 1 FIFO and 2 LIFO?

Reference no: EM132386432

Questions Cloud

Calculate the? bond current yield : A bond is priced in the market at ?$1,150 and has a coupon of 10?%. Calculate the? bond's current yield.
What is the new pe ratio : If MM has $25 million in debt with an interest rate of 8% (cost of capital (WACC) remains 14%), what is the new P/E ratio?
What would be the significant business risks in auditing : What would be the significant business risks in auditing that may result in risks of material misstatement for JB HI FI? The response paper should be in APA.
Calculate the npv of rachel college tuition : Jan wants to plan for her daughter's education. Her daughter, Rachel was born today and will go to college at age 18 for four years.
Compute the inventory at may 30 using lifo : The periodic inventory records are kept in units only compute the inventory at may 30 using LIFO and average cost.? Find the inventory using 1 FIFO and 2 LIFO?
Acting on behalf of existing shareholders : Does the project have a positive NPV? Acting on behalf of existing shareholders, should you take the project?
What rate of return does the bank expect to earn : If Mr. Bill believes there is a 100% probability that he will payback the loan, then what rate does Mr. Bill believe he is paying?
How do i calculate retained earnings : How do i calculate retained earnings based on this information (i need the formula):
Record the adjusting entries in the general journal : Consumer Research Associates, owned by Gloria Johnson, is retained by large companies to test consumer reaction to new products.

Reviews

Write a Review

Financial Management Questions & Answers

  Traditional problem associated with real estate investments

Limited partnership arrangements alleviate which traditional problem associated with real estate investments?

  What is the annual operating cash flow

ABC Company is considering a new project. The project is expected to generate annual sales of $85,543, variable costs of $26,950, and fixed costs of $20,137. The depreciation expense each year is $7,747 and the tax rate is 39 percent. What is the ann..

  What is the distinction between criminal and civil fraud

What are the elements of fraud and must all elements be present? What is the distinction between criminal and civil fraud? Why does it matter?

  Liabilities and equity that appears on firm balance sheet

What is the company's total debt? What is the amount of total liabilities and equity that appears on the firm's balance sheet?

  What is the likely impact to be on the price of your bonds

Bond markets have enjoyed a prolonged period of rising prices as interest rates have declined. The Federal Reserve is contemplating raising rates gradually as the economy shows its ability to support higher rates. You have a 5% corporate bond maturin..

  Nominal exchange rates between two nations

Absolute purchasing power parity states that differences in nominal exchange rates between two nations over time are due to differences in inflation rates

  Using forward contract and money market hedging

Discuss how the Coca-Cola can hedge its exposure by using forward contract and money market hedging?

  What yield to maturity is the bond offering

A 5.85 percent coupon bond with 18 years left to maturity is offered for sale at $1,055.25. What yield to maturity is the bond offering? (Assume interest payments are semiannual.) (Round your answer to 2 decimal places.)

  Conduct sensitivity analysis to determine

Find the future value FV at the end of your career and conduct a sensitivity analysis to determine if you will have enough for retirement

  What is the present value of this liability

If the relevant discount rate is 8.5 percent, what is the present value of this liability?

  What is the payback period-initial cost of construction

Tooth Tortures is considering building a new office after the first was destroyed by a storm. They estimate the initial cost of construction of the new office, and equipment to total $1,000,000. What is the payback period? Dr. Payne states that since..

  Calculate the amount of depreciation expense

Smith Corporation reported net income of$200, 000 for 2008. Its EBITDA amounted to 000 and interest expense was $100, 000.

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