Solution-Determine the inventory cost using the fifo

Determine the inventory cost using the fifo

Assignment Help Accounting Basics

Reference no: EM132736736

Question: The units of an item available for sale during the year were as follows:

Jan 1 inventory 17 units at 124 April 15 purchase 133 units at 114 September 9 purchase 25 units at 132.

There are 46 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the first-in, first- out (FIFO).

Reference no: EM132736736

Questions Cloud

What are expected profits in the given year : If total revenue in 2020 is expected to be $1,797,093, what are expected profits in 2020 [round the CM or CM rate to two decimal places]?

Should the impact on current holders be considered : How do you think a business should decide which capitalization option is best? Should the impact on current holders be considered?

What is the balance of the unearned revenue account : On June 1, 2018, Matubay Insurance Company collected $490,000 for a 2-year insurance policy beginning on the same date. The company has a December 31 year end.

Will has watched football religiously his entire life : Discussing religious beliefs during a company meeting and Which of the following is most likely to be a protected advocacy or proselytizing activity

Determine the inventory cost using the fifo : There are 46 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using.

What was the flexible budget variance for total utility cost : What was the flexible budget variance for total utility costs in 2019? [Assume that a positive number means a favorable variance and a negative number]

Difference between a bonus issue and a right issues of share : CD had 5,000.00 R1 ordinary shares in issue. Subsequently, CD made a right issue of 1new ordinary share at R3. 50 per share for every 5 ordinary currently held.

How much is credited to share warrants : Warrant - P 4; Ordinary share - P 75. Subsequently, all of the warrants were exercised. On the date of issuance, how much is credited to share warrants?

Compute cost of a lost discount as an annual percentage rate : On November 15, 2015, Shields Company purchased inventory costing $6,200 on credit. The credit terms were 2/10, n/30. Assume that Shields Company paid the.

User Account

All Pages

Determine the inventory cost using the fifo

Reference no: EM132736736

Reference no: EM132736736

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT