Inventory valuation method

Assignment Help Financial Accounting

Reference no: EM13824006

10th Generation Electronics had two transformers in its inventory, one purchased in February for $11,800 and the other acquired in September for $13,300. In December, they sold one of the transformers to Ram Enterprises for $16,400 and reported a gross profit of $3,100. 10th Generation Electronics evidently uses the ________ inventory valuation method.

A. FIFO

B. LIFO

C. Average

D. Flexplus

Reference no: EM13824006

Questions Cloud

Operating activity-investing activity-financing activity : Analyze each transaction listed in the table that follows and place the appropriate activity beside it to indicate the transaction’s classification and its effect on cash flows using the indirect method. Operating Activity, Investing Activity, Financ..

Compound saturated concentration : Compound Saturated Concentration Cation Molarity Anion Molarity Total Ion SolubilityCo(NO3)2 CoCl2 K2Cr2O7

Straight-line method-what is depreciation on the building : At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. What is depreciation on the building for 2016? (Enter your answer in whole dollars)

How did regan cutting exploration of renewable energies : How did Regan cutting exploration of renewable energies have a long-term impact on our ability to remove our dependence on oil?

Inventory valuation method : 10th Generation Electronics had two transformers in its inventory, one purchased in February for $11,800 and the other acquired in September for $13,300. In December, they sold one of the transformers to Ram Enterprises for $16,400 and reported a gro..

What will be number of shares outstanding after the split : Michelangelo Inc., a software development firm, has stock outstanding as follows: 30,000 shares of cumulative 4%, preferred stock of $25 par, and 38,000 shares of $75 par common. What will be the number of shares outstanding after the split?

Benefits of adopting activity based costing in organization : What are 3 benefits of adopting Activity Based Costing in an organization? What kind of companies adopts Activity based costing? What are 3 limations (disadvantages) of Activity Based Costing?

About the dividends per share : Michelangelo Inc., a software development firm, has stock outstanding as follows: 30,000 shares of cumulative 4%, preferred stock of $25 par, and 38,000 shares of $75 par common. During its first four years of operations, the following amounts were d..

Hbs working knowledge : Case Brief should not exceed 500 words (one single-spaced typed page). It should be written with the assumption that the reader is familiar with the details of the case.

User Account

All Pages