Montana great outdoors had the following inventory

Reference no: EM131020764

Montana Great Outdoors had the following inventory in fiscal 2012. Compute the company's cost of goods sold for fiscal 2012 assuming the company used a) FIFO and b) LIFO methods of accounting for inventory:
Beginning Inventory, August 1, 2011: 140 units @ $19.50
Purchase 300 units @ $19.00
Purchase 50 units @ $20.00
Purchase 120 units @ $20.30
Ending Inventory, July 31, 2012: 130 units

Reference no: EM131020764

Questions Cloud

Allocation of scarce resources in an economy : If economic efficiency is the primary goal in an economy, then allocation of scarce resources in an economy is best done

Briefly explain why goodyear was not in favor of tire tariff : Goodyear manufactures tires in the United States, so you might expect that the firm would benefit from a tariff on imports of Chinese tires. Yet Goodyear actually opposed the Obama administration's decision to impose the tariff. Briefly explain w..

Why should the company consider these best practices : Operational Factors: If the company adapts its website for international visitors, what operational factors will the company need to consider? For example, would the company's payment process need to change for international visitors? Provide a de..

Draw new budget constraint to reflect increase in price : The following graph illustrates the combination of apples and oranges (point A) that maximizes Yolanda's total utility, given her budget. Suppose the price of oranges doubles, while the price of apples and Yolanda's income both stay the same. Dra..

Montana great outdoors had the following inventory : Compute the company's cost of goods sold for fiscal 2012 assuming the company used a) FIFO and b) LIFO methods of accounting for inventory:

What is the present value of these cash flows : Investment X offers to pay you $6,100 per year for 9 years, whereas Investment Y offers to pay you $8,700 per year for 5 years. If the discount rate is 5 percent, what is the present value of these cash flows?

Writes that the market is amoral : Wheelan writes that "the market is amoral". This means that - The market is willing to produce goods and services that people need. The market is willing to produce goods and services that people are willing to buy

Autonomous identity for an organization : Develop an autonomous identity for an organization where you work or with whom you have been involved. Focus on the following: Reflect on your own organization's areas for growth by organizational development (OD) change intervention.

What rate of return per quarter are you being offered : Suppose an investment offers to quintuple your money in 30 months (don’t believe it). What rate of return per quarter are you being offered? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32..

User Account

All Pages