User Account

All Pages

Show computations to value the ending inventory

Assignment Help Managerial Accounting
Reference no: EM132605369

Dias Company uses the periodic inventory system to account for inventories. Information related to Dias Company's inventory at October 31 is given below:

October 1       Beginning inventory 400 units @ $9.80 = $ 3,920

8                   Purchase 800 units @ $10.40 = 8,320

16                    Purchase 600 units @ $10.80 = 6,480

24                    Purchase 200 units @ $11.80 = 2,360

Total units and cost 2,000 units $21,080

Required:

Question 1: Show computations to value the ending inventory using the FIFO cost assumption if 550 units remain on hand at October 31.

Question 2: Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31.

Question 3: Show computations to value the ending inventory using the LIFO cost assumption if 550 units remain on hand at October 31.

Reference no: EM132605369

Questions Cloud

Describe the possible shortcomings or bias in the work : In this week's discussion question you were asked to consider a potential problem (appropriate to your role option) that you would like to investigate through.
Find annual depreciation for the first and second years : Compute annual depreciation for the first and second years using the Double-declining-balance method and Straight-line method
What is the depreciation base of this asset : The estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset
Discuss proposed food label changes outlined : Discuss the proposed Food Label changes outlined in the Textbook explaining how the changes would help consumers understand food labels more effectively.
Show computations to value the ending inventory : Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31.
Describe the problem you are interested in researching : In this course, each of you will be developing a research proposal. Our focus this week is to identify a problem specific to your role option that is amenable.
What is the depreciation expense on this asset : The activity method will be used for depreciation. What is the depreciation expense on this asset in the current year
How will understanding statistics prepare you for research : Write a 500-word reflection discussing your responses to the two Discussion questions below , how will understanding the statistics prepare you for reading.
Scheduling a promotional meeting for prospective customers : At the request of the marketing manager, Roxanne has collected information about scheduling a promotional meeting for prospective customers

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What is the margin of safety expressed in dollars

If the margin of safety for Spearfish Company was 30%, fixed costs were $1,750,000 and variable costs were 80% of sales, what was the amount of actual sales (dollars)?

  Find what is the present value of the receipts

What is the present value of the receipts? The risk-adjusted WACC is 12%. You are required to evaluate the proposal with mitigation using NPV.

  King manufacturing has four categories of overhead the four

king manufacturing has four categories of overhead. the four categories and expected overhead costs for each category

  Find the total and unit cost of finished goods

Find the total and unit cost of finished goods started and completed in the current period. Find the total cost of work in process inventory at June 30.

  Write essay about accounts for share buy-backs

Corporate Accounting - Business Report Assignment. A short essay about the following: Accounts for Share buy-backs

  Critique the various pros and cons of the variable costing

Critique the various pros and cons of the variable costing proposal that were presented in the meeting. What arguments would you add?

  Solve the variable overhead spending and efficiency

Calculate the variable overhead spending and efficiency variances for October. Fixed overhead is based on capacity of 150,000 direct labour hours per month.

  Meera corporation comparative balance sheets

All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,890.

  Find what is the maximum transfer price for xyz division

Find What is the maximum transfer price for XYZ Division? Show calculations. What is the minimum transfer price for MNO Division? Show calculations.

  Determine the cost benefit relationship to doing so

make sense to have multiple processes and allocation bases vs. a few simple ones? What criteria would to determine the cost benefit relationship to doing so?

  The application included the following financial statements

You are a loan officer for First Benevolent Bank. You have an uneasy feeling as you examine a loan application from Daring Corporation. The application included the following financial statements.

  Demonstrate what is predetermined overhead rate

What is predetermined overhead rate and how do use it? And what do compare it to to determine if its under or overapplied? Explain with example

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