Solution-Determine the eost of goods available for sale

Determine the eost of goods available for sale

Assignment Help Cost Accounting

Reference no: EM13500786

Question:

See-it-Again sells old movies on DVD. At the beginning of October, See-it-Again had in beginning inventory 1100DVDs with a unit cost of$5. During October, See~it again made the following purchases of DVDs.

October 3 3850@$6
October 9 4400@$7
October 19 3300@$8
October 252200@$9

During October, 12100 units were sold. The eompany uses a periodie inventory system.

REQUIRED

a. Determine the eost of goods available for sale.

b. Determine the ending inventory and the cost of goods sold under each of the cost flow methods of FIFO, LIFO, and weighted average cost.

c."Which cost flow method results in first, the highest inventory amount for the balance sheet, and seeond, the highest cost ofgoods sold?

Reference no: EM13500786

Questions Cloud

Explain the average speed of the sprinter in kilometers : A sprinter set a high school record in track and field, running 200.0 m in 21.6 s. What is the average speed of the sprinter in kilometers per hour

A duplicate eliminating projection : Consider the following SQL query over tables R(A), S(A), and T (A). Note that "Select Distinct" in SQL represents a duplicate-eliminating projection.

Explain the mass concentration of oxygen in the mixture : Suppose you have made 1L worth of a mixture of methanol and water, by mixing 3 parts of methanol and 2 parts of water by mass. Assume for simplicity that the volume of the mixture is exactly equal to the sum of the volumes of the ingredients (whic..

Attributes and behaviors : Write a Class called Course containing the following attributes and behaviors

Determine the eost of goods available for sale : Determine the ending inventory and the cost of goods sold under each of the cost flow methods of FIFO, LIFO, and weighted average cost.

Describe the kinds of securities the u.s. government uses : On January 15, 2020, the U.S. Treasury issued a 10-year inflation-indexed note with a coupon of 6%. On the date of issue, the CPI was 400. By January 15, 2030, the CPI had decreased to 300. What principal and coupon payment was made on January 15, 20..

Explain what are the percentages of the other two isotopes : Magnesium has 3 stable isotopes with masses of 23.98504 u, 24.98584 u respectively. If the percent abundance of magnesium-25 is 10.13%, What are the percentages of the other two isotopes

Elway business services : You have been asked by Elway Business Services Inc. to evaluate the possible financial loss that could be accrued by threats to its servers. You decide to use the ALE equation to estimate this cost. As a starting point, EBS provides the follow..

Explain the concentration of the hydrogen ion : The definition of PH is PH = -log[H+], where [H+] is the concentration of the hydrogen ion. If [H+] = 1.2 x 10 ^-5, determine the PH using correct number of significant figures.

User Account

All Pages

Determine the eost of goods available for sale

Reference no: EM13500786

Reference no: EM13500786

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT