User Account

All Pages

How would the entry to recognize the cost of goods sold

Assignment Help Financial Management
Reference no: EM132381140

Question

Tetra Company purchased 3,400 units of inventory that cost $9.00 each on January 1, Year 1. An additional 4,400 units of inventory were purchased on January 12, Year 1 at a cost of $5.60 each. Tetra Company sold 5,400 units of inventory on January 20, Year 1. Assuming that Tetra Co. uses the perpetual inventory method and a FIFO cost flow method, how would the entry to recognize the cost of goods sold affect the financial statements?

Reference no: EM132381140

Questions Cloud

Glasgows cost of goods sold under fifo would be : Glasgow Enterprises started the period with 85 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items.
Determining the present value : What's the present value of $2,000 due in 5 years? We assume current interest rate is = 12%, compounded monthly.
What is the total bid-ask spread : He also charges a commission of $10.00 in total. What is the total bid-ask spread in this case? Please show work with formula.
The amount of gross margin reported on the income statement : Stubbs Company uses the perpetual inventory method. On January 1, Year 1, Stubbs purchased 500 units of inventory that cost $3.00 each.
How would the entry to recognize the cost of goods sold : Tetra Company purchased 3,400 units of inventory that cost $9.00 each on January 1, Year 1. An additional 4,400 units of inventory were purchased.
Create a siop lesson plan in a content area : Create a SIOP lesson plan in a content area of your choice for a group of ELLs at a grade and English language proficiency (ELP) level that you specify.
What information you gathered about the profession : Now that you have conducted your self-assessment and have immersed yourself in readings about successful humanitarian professionals, how does this impact.
Create a brochure for immigrant families in your community : Create a brochure for immigrant families in your community that contains at least three community resources that support English acquisition.
What is its eva : Its total invested capital is $30,000,000 and its after cost of capital is 6%. What is its EVA?

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

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