Solution-Discuss the april cost of goods sold using the

Discuss the april cost of goods sold using the lifo method

Assignment Help Accounting Basics

Reference no: EM131764272

Brief Exercise 8-6
Novak Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available.

	Units	Unit Cost	Total Cost
April 1 inventory	300	$19	mce_markernbsp;5,700
April 15 purchase	410	23	9,430
April 23 purchase	290	25	7,250
	1,000		$22,380

Compute the April 30 inventory and the April cost of goods sold using the LIFO method.

Ending inventory

Cost of goods sold

Reference no: EM131764272

Questions Cloud

How about the differences among them : The Field Museum of Natural History in Chicago. Inside, one of the exhibits discussed evolutionary differences between finches in the Galapagos.

Probability that a randomly selected bottle contains less : Bottling cola A bottling company uses a filling machine to fill plastic bottles with cola. The bottles are supposed to contain 300 milliliters (ml).

Compute the jenks margin of safety ratio : Jenks Corporation reported sales of $2,000,000 last year (100,000 units at $20 each), when break-even point was 80,000 units. Jenks' margin of safety ratio is

In your business experience have you observed major errors : Can you identify the point, or decision, of "no return" and suggest a possible alternative decision that may have brought a satisfactory result?

Discuss the april cost of goods sold using the lifo method : Compute the April 30 inventory and the April cost of goods sold using the LIFO method

Human papilloma virus : What is the HPV (human papilloma virus) vaccine & how it helped prevent cervical cancer. While this vaccine comes with its share of controversy

Determine that the lifetime distribution is unchanged : The average life of the batteries on these 8 cars turns out to be x¯ = 42.2 months. Find the probability that the sample mean lifetime is 42.2 months.

What is the n chromosome of the spores : These spores eventually develop into pollen grains which contain the non-motile sperm. What is the N chromosome of the spores?

Probability that a randomly selected passenger weighs more : Airline passengers get heavier In response to the increasing weight of airline passengers, the Federal Aviation Administration (FAA) told airlines.

User Account

All Pages

Discuss the april cost of goods sold using the lifo method

Reference no: EM131764272

Reference no: EM131764272

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