User Account

All Pages

Compute the inventory value on January by FIFO method

Assignment Help Accounting Basics
Reference no: EM133038103

Question - The following is the record of receipts of certain materials during the month of January ?2011:

?Jan. 2 ?Received 500 Units? @ Rs.20 per unit

?Jan. 3 ?Received 400 Units ?@ Rs. 21 per unit

?Jan. 5 ?Issued 300 Units

?Jan. 11? Issued 700 Units

?Jan. 15? Received 300 Units? @ Rs. 19 per unit

?Jan. 28 ?Received 400 Units ?@ Rs. 20 per unit

?The physical inventory taken on 31st January, 2011 shows that there are 600 units ?in hand.

Required -???

a) Compute the inventory value on 31st January, 2011 by FIFO method.

b) Valuation of inventory using perpetual inventory system.

Reference no: EM133038103

Questions Cloud

Incremental and discontinuous innovation : Describe the advantages and disadvantages of both incremental and discontinuous innovation.
How did being present within the world of living beings : What was it like to spend time outside? Where did you go, what did you do? What did you notice, and did this change over time?
Claim for sexual harassment : Hannah's claim of sexual harassment is. Julie may have a claim for sexual harassment under which of the following labels?
Describe general observations of the sales : Describe your general observations of the sales, quantity, discount, and profit attributes and their relationship to other attributees within the data set.
Compute the inventory value on January by FIFO method : ?The physical inventory taken on 31st January, 2011 shows that there are 600 units ?in hand. Compute the inventory value on January by FIFO method
Research utilization presentation : Objectively Evaluate relevant aspects of each study and Explain how selected elements of the studies support your purpose
What do you know about profitability index : What do you know about profitability index? You have to make a certain case that shows the importance of profitability index effect on making business decision
Manage and promote diversity-chcdiv003 : 1. What are at least 6 diverse elements that are possible to find in a workplace environment?
Find the interest paid during the first year : For tax purposes, she needs to know the amount of interest paid during the first year of the loan. Find the interest paid during the first year

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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