Data are available for one of the products

Assignment Help Financial Accounting

Reference no: EM13940553

The following data are available for one of the products sold by Green Company, which uses a perpetual inventory system.

Oct. 1 Beginning inventory, 800 units at $2 each

5 Purchased 2,000 units at $2.50 each

10 Sold 2,500 units at $5 each

15 Purchased 1,700 units at $3 each

25 Sold 1,500 units at $6 each

Calculate the total dollar amount of cost of goods sold and total dollar amount of ending inventory for October assuming FIFO is used.
Calculate total dollar amount of cost of goods sold and total dollar amount of ending inventory for October assuming LIFO is used.

Reference no: EM13940553

Questions Cloud

Translate strategic goals and objectives : 'If effective operations management is to translate strategic goals and objectives into action, whist ensuring continuity of supply of products and services to customers, then it is imperative that the key characteristics of strategies employed ..

What is the present value of the cash flow : If the appropriate interest rate is 8 percent, what is the present value of the cash flow stream that the company is offering you? (Round answer to the nearest whole dollar, e.g. 5,275.)

Design an algorithm that creates the table c : Design an algorithm that creates the table C according to the above description and has time complexity Theta(m^2).In response give either pseudocode or the description of the steps of the algorithm, and justify the time complexity.

Government inquiry into taxation minimisation : What recommendations would you make to a government inquiry into taxation minimisation by companies?

Data are available for one of the products : data are available for one of the products sold by Green Company, which uses a perpetual inventory system

The demand for dvd players is expanding rapidly : The demand for DVD players is expanding rapidly, but the industry is highly competitive. A plant to make DVD players costs $40 million, has an annual capacity of 100,000 units, and has an indefinite physical life. The variable production cost per uni..

Strategic management process : Assignment brief: Prepare a strategic report that includes an introduction, summary and list of academic references which comply with Harvard, to support the requests in the case study covering the following areas: 1. Provide a critical insight in..

Prepare a scattergraph by plotting power costs : Prepare a scattergraph by plotting power costs against machine hours. Does the scattergraph show a linear relationship between machine hours and power cost?

Does alan view of his job foster a negative or positive work : Does Alan's view of his job foster a negative or positive work atmosphere with his employees? Explain.

User Account

All Pages