User Account

All Pages

Determine one of cost of goods available for sale in units

Assignment Help Financial Accounting
Reference no: EM132595201

Assume the following for a business

Beginning Inventory: 30 units at $10 per unit

First purchase during period: 20 units at $12 per unit

Second purchase during period: 35 units at $14 per unit

Sales during period: 50 units

Question 1: Assuming the company uses LIFO, determine one of the following in units and dollars (show your work!):

1. Cost of Goods Available for Sale (COGAS):

Reference no: EM132595201

Questions Cloud

Cultural and public health considerations of historical case : Looking at the social, cultural and public health considerations of the historical cases discussed
What would be profit if closed position : Futures contract at a futures price of 1,420. If, on February 1, the April futures price was 1,430, what would be your profit (loss) if you closed your position
Prepare Alpha Company General Journal entries : Alpha Company used the periodic inventory system for purchase & sales of merchandise. Prepare Alpha Company General Journal entries
Analyzing health care policy : Discuss what you feel is the single most important issue and/or factor in creating, formulating, evaluating and analyzing health care policy
Determine one of cost of goods available for sale in units : Assuming the company uses LIFO, determine one of the Cost of Goods Available for Sale in units and dollars (show your work).
Unitary board system and a dual board system : Distinguish the difference between a unitary board system and a dual board system.
Negative effects of creating a provider network : You are the manager of a managed care organization and are seeking to establish a provider network for your organization.
Calculate the effect on each year profit : Calculate the effect on each year's profit from the above. The provision for doubtful debts stood at £425 as at 31 December 2006
Calculate the total cost of direct materials : The cost of direct materials is $2.10 per yard. Calculate the total cost of direct materials to be purchased in September

Reviews

Write a Review

Financial Accounting Questions & Answers

  Question amos is a computer consultant and his office is

question amos is a computer consultant and his office is situated in orange california. he and his wife susan used

  Recorded them bond proceeds-account comparable to revenues

Geneva County authorized the issuance of bonds and contracted with the Chessie Construction Company (CCC) to build a new convention center. During 2013, 2014, and 2015, the county engaged in the transactions that follow. All were recorded in the coun..

  Authorized to be ordered and were properly received

In order to ensure that a company pays only for goods which were authorized to be ordered and were properly received, the receiving clerk should _________the packing slip information with the open PO file to verify that the goods were________.

  Prepare the journal entries for the business

Prepare the journal entries for the business first month of operations. Explanations are not necessary and post your journal entries in the General Ledger T-accounts and calculate the balance

  What would be the contingent tax liability

If a farm business in (use the UCC at the end of the year ($455,000 for Buildings, $665,000 for pull type equipment, $1,394,250 for powered machinery)) has a current market value of machinery and buildings is $4,000,000, what would be the Contingent ..

  How does this change affect the incentives for working

How does this change affect the incentives for working? b. How might this change represent a trade-off between equality and efficiency?

  What would be the amount related to the bonds that myriad

What would be the amount(s) related to the bonds that Myriad would report in its statement of cash flows for the year ended December 31, 2018?

  Determine tax consequences of the transfers to all parties

Boggs contributed land with a fair market value of $22,000 and an adjusted basis of $40,000 in return for 12 shares of Y&B Company stock and 10 $1,000 bonds. Lyle performed legal and accounting work during the incorporation process in return for ..

  Journalize the july transactions and july adjusting entry

Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days)

  What should equal end of year deposit be to accumulate

What should his equal end of year deposit be to accumulate $350,000 at 10% rate of interest? Prepare the amortization schedule for the loan.

  Cost of production and journal entries

Airfoil Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On March 1, there were 190 pounds of alloy in process, which were 60% complete..

  Calculate the fixed asset turnover ratio

During 2016, Ambiance Company reported net revenue of $4,088,000. The company reported net fixed assets of $640,000 on January 1, 2016 and net fixed assets of $820,000 on December 31, 2016. Calculate the fixed asset turnover ratio.

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