Reference no: EM132671568
Computations involving different cost-flow assumptions. Arnold Company's raw material purchases during January, its first month of operations, were as follows:
Quantity Cost per Unit Total Cost
1/2 Purchased . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 pounds $2.20 $2,640
1/8 Purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,200 pounds $2.25 $4,950
1/15 Purchased . . . . . . . . . . . . . . . . . . . . . . . . . .2,800 pounds $2.28 $6,384
1/23 Purchased . . . . . . . . . . . . . . . . . . . . . . . . . .1,500 pounds $2.30 $3,450
1/28 Purchased . . . . . . . . . . . . . . . . . . . . . . . . . .3,000 pounds $2.32 $6,960
Total Goods Available for Use . . . . . . . . . . . . . . 10,700 pounds $24,384
Problem 1: The inventory on January 31 was 3,500 pounds. Compute the cost of the inventory on January 31 and the cost of raw materials issued to production for January under each of the following cost-flow assumptions:
a. FIFO.
b. Weighted average.
c. LIFO.
|
Identify the risks the company included in the filing
: Identify the risks the company included in its filing. Auditors need to be aware of these fisks, as they could have misstatement implications
|
|
Discuss all legal concerns in brief
: You are considering a full-time career in HR and have found a very attractive job you would like to pursue. In the recruiting advertisement, the employer.
|
|
How present arguments supporting a decision to accept tiera
: Tammy Potter, a new partner with the regional CPA firm of Tower, How Present arguments supporting a decision to accept Tiera Corporation as an audit client.
|
|
Discuss the statement related to wage
: Discuss the following statement. Wage differentials exist in similar jobs based on region, automation, education, risk and the profitability of hiring companies
|
|
Find the cost of the inventory on january
: Find the cost of the inventory on January 31 and the cost of raw materials issued to production for January under each of the Weighted average cost-flow
|
|
Why the company must evolve its compensation system
: Make a 350 written rationale that outlines the key factors of why the company must evolve its compensation system in order to meet current and future challenges
|
|
How will implement the strategy
: You are newly registered BAS agent, List three (3) strategies , describe how you will implement the strategy and what the benifits for you will be.
|
|
How much is the annual amortization expense on january
: How much is the annual amortization expense for 2019? On January 2, 2019, Adelphi Company purchased a patent for $155,000 plus $7,000 in legal fees.
|
|
Prepare the BCVR and pre-acquisition journal entries
: On 1 Jan 2016 Tony Ltd sold inventory costing $9000 to Claire Ltd for $16,000. Prepare the BCVR and pre-acquisition journal entries
|