Question a company has made the subsequent purchases of

Assignment Help Financial Accounting

Reference no: EM13348912

Question :

A company has made the subsequent purchases of merchandise during the Month of July:

July 1 purchased 380 units at $15 dollars each
July 5 purchased 270 units at $20 dollars each
July 9 sold 500 units at $55 dollars each
July 14 purchased 300 units at $24 dollars each
July 20 sold 250 units at $55 dollars each
July 30 purchased 250 units at $30 each

Using the purchase information found above, answer the two questions below. As you complete each question, be sure to show the information/ numbers you used to reach your final answer.

1.There was no beginning inventory. If the company uses the first-in, first-out technique and the perpetual system, what could be the cost of the ending inventory?

2.There was no beginning inventory. If the company uses the last-in, first-out technique and the perpetual system, what could be the cost of the ending inventory?

Reference no: EM13348912

Questions Cloud

Question 1 process solutions gives a computer-based : question 1 process solutions gives a computer-based document processing service. the accountant has produced the

Question 1i given new challenges the public sector is : question 1i given new challenges the public sector is facing to what extent can npm help it in dealing with them?ii

Question 1 management in public domain has its own : question 1 management in public domain has its own specificity and is very dissimilar from management in the private

Question evaluate the market value of the given bond8 bonds : question evaluate the market value of the given bond8 bonds of 150000 sold 30 months after bond issue date. 15-year

Question a company has made the subsequent purchases of : question a company has made the subsequent purchases of merchandise during the month of julyjuly 1 purchased 380 units

Questionshow the entitys assessment of and satisfaction : questionshow the entitys assessment of and satisfaction with the ais in fulfilling the gets of the entity. add the

Question 1 public sector management is conditioned by : question 1 public sector management is conditioned by political and managerial values that have an influence on

Question draft the appropriate audit opinion provided the : question draft the appropriate audit opinion provided the subsequent scenarios. every situation is independent of the

Question 1 i identify privatisation ii what is : question 1 i identify privatisation ii what is compensation of privatisation?iii what is the disadvantage associated

User Account

All Pages