Reference no: EM131208342
Perpetual: Inventory costing methods-FIFO and LIFO
Date, activities, units acquired at cost, units sold at retail
Jan. 1, Beginning inventory, 155 units @ 12.20= 1,891
Jan 10, sales, (units sold at retail 145 units @ 42.20)
March 14, purchase, 305 units @ 17.20=5,246
March 15, sales, (units sold at retail 195 units @ 42.20)
July 30, purchase, 455 units @ 22.20=10,101
Oct 5, sales, (units sold at retail 245 units @ 42.20)
Oct 26, purchases, 655 units @ 27.20=17816
Totalys 1,570 units, 35,054, 585 units sold at retail
1. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO and FIFO
2. compute the gross margin for fifo method
sales revenue
cost of goods sld
gross margin
3. compute the gross margin for lifo method
sales revenue
cost of goods sold
gross margin
What are the major causes and effects of climate change
: What are the major causes and effects of climate change? Discuss the evolutioil of international agreements to address the problem of greenhouse gas emissions.
|
What is the total amount of interest earned on ten deposits
: On each December 31, you plan to transfer $3,500 from your checking account into an investment account. The investment account will earn 3 percent annual interest, which will be added to the account balance at each year-end. What is the total amount ..
|
A technical description for two different audiences
: A technical description for two different audiences.- Explain to both a non-technical audience and to a specialized audience how something works.
|
Students into one of three general categories
: A local university found it could classify its students into one of three general categories: (44%), afternoon (31%), and evening students. 39% of the morning students, 23% of the afternoon students, and 17% of the evening students live on campus...
|
Inventory costing methods-FIFO and LIFO
: Determine the cost assigned to ending inventory and to cost of goods sold using LIFO and FIFO. compute the gross margin for fifo method. compute the gross margin for lifo method.
|
What will the pullout torque be
: If the motor in Problem 6-15 is to be driven from a 460-V 50-Hz power supply, what will the pullout torque be? What will the slip be at pullout?
|
Average speed of the boat relative to the water
: A boat traveled a distance of 152 mi and then came right back. If the speed of the current was 7 mph and the total trip took 6 hours and 20 minutes, find the average speed of the boat relative to the water.
|
Define and describe the purpose of dns
: Discuss the differences between ‘implementation' and ‘policy', and describe the importance of their separation. Using information from the course, including the lectures and weekly reading, develop an outline of your security policy which addresses..
|
Perimeter of the triangle with the vertices
: Find the perimeter of the triangle with the vertices at (1, -1), (-3, 3), and (-3, -3). Show work please.
|