User Account

All Pages

Determine the inventory value of the gloves by fifo method

Assignment Help Financial Accounting
Reference no: EM133173228

Question - Sports Haven made the following purchases of bicycling gloves:

February 17 150 @ $12.50

April 25 120 @ $12.00

July 9 130 @ $11.50

September 7 100 @ $11.75

The year-end inventory revealed a total of 163 gloves in stock:

Determine the inventory value of the gloves by the weighted mean method.

Determine the inventory value of the gloves by the FIFO method.

Determine the inventory value of the gloves by the LIFO method.

Reference no: EM133173228

Questions Cloud

How much interest is earned : Question - How much interest is earned in the 12 th year of a 25-year $1,050 investment earning 10.20% annually
Calculate the management fee mike must pay this year : The management fee for this particular fund is 0.60 percent of the total asset value. Calculate the management fee Mike must pay this year
Ethical dilemma-can i keep this child : To whom do you have responsibilities? Whom and what do you have to consider in making a decision? What action(s) would you take in resolving this situation?
How much should she have in her back account today : At an interest rate of 4.5% compounded semi-monthly, how much should she have in her back account today to cover for both future trips
Determine the inventory value of the gloves by fifo method : The year-end inventory revealed a total of 163 gloves in stock: Determine the inventory value of the gloves by the FIFO method
How much should be recognized as dividends : Islands Co. has 200,000 outstanding common shares. On Dec 30, 2013, Islands declared a 3% stock dividend. How much should be recognized as dividends
What will be its stock price following the stock repurchase : The repurchase is expected to have no effect on net income or the company's P/E ratio. What will be its stock price following the stock repurchase
What was the standard materials price per pound : During the year, 117,000 pounds of raw materials were purchased at $0.92 per pound. What was the standard materials price per pound
Prepare analysis showing the old machine should retained : The new machine will lower annual variable production costs from $551,200 to $434,600. Prepare analysis showing whether the old machine be retained or replaced

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare the liabilities section of the sfp

Prepare the liabilities section of the SFP if Flint presents liabilities in order of liquidity. Flint Limited has the balances as at December 31, 2020

  What is the arbitrage profit

What is the arbitrage profit per $1000 notional amount in portfolio A (long or short position.) Enter a number without a dollar sign

  Compute the taxable income and federal tax liability

Compute the taxable income and federal tax liability for the current year. Compute the marginal, average and effective tax rates.

  What is the balance remaining and monthly payment

What is the balance remaining on a $100,000 30-year mortgage, at 6% with payments of $599.55, after you have made 299 payments? What is the monthly payment on a $1,000 loan that is 18% per year, compounded weekly. Assume 52 weeks per year and that yo..

  What was the closing price per share of the common stock

What was the closing price per share of the common stock on the last business date of the FYE? What were the Basic Earnings Per Share published

  What is the true value

The contract is for equal payments of $4.5 million each year for the next 15 years. If you assume a 10 percent discount rate, what is the true value

  What is the percentage increased in profit for the year

A fast food restaurant has a profit of $500,000 in 2018 and $520,000 in 2019. What is the percentage increased in profit for the year 2019?

  Reconcile jack steel month end cash balance

Reconcile Jack Steel's month end cash balance as of 31 Jul 2019.Bank charges for the month of July were $40. Interest on bank balance credited to Jack's account

  Calculate the security equilibrium rate of return

The security's liquidity risk premium is 0.15 percent and maturity risk premium is 0.75 percent. Calculate the security equilibrium rate of return

  How do mutually exclusive and independent projects differ

How do "mutually exclusive" and "independent" projects differ? What kinds of nonfinancial information are needed in order to conduct the analysis of a project?

  Determine the amount of revenue about sarasota life fitness

Determine the amount of revenue that Sarasota Life would recognize in January, assuming that 320 memberships were sold as part of this promotion

  What sales level will be necessary to achieve the net income

Your tax rate is 35%, interest expense is $1.5 million, depreciation is $2 million. What sales level will be necessary to achieve the net income

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