Reference no: EM131292714
The accounting records of Freds Sporting Goods reflected the following balances as of January 1 2015.
Cash 20,400
Beginning Inventory 30,000
120 units @ $250
Common Stock 34,000
Retained Earnings 16,400
The following four transactions occured in 2015
1. First purchase (cash) 100 units @ $260
2. Second purchase (cash) 210 units @ $270
3. Sales (all cash) 340 units @ $375
4. Paid 30,000 cash for operating expenses
Requirement 1-
Compute the cost of goods sold and ending inventory, assuming FIFO cost flow
Compute the cost of goods sold and ending inventory, assuming LIFO cash flow
Compute the cost of goods sold and ending inventory, assuming weighted-average cost flow
Requirement 2
Prepare the 2015 income statement (mulit-step), balance sheet and statement of cash flows under FIFO, LIFO and Weighted Average.
Please and thank you have been stuck for three days on this.
|
Discuss the organizations strategy
: Discuss the organization's strategy and classify it according to Porter's three generic competitive strategies - identify the most critical inputs in each of the first three categories and justify why they are critical. Also explain what effect the ..
|
|
Rewrite each sentence and correcting all errors
: Rewrite each sentence, correcting all errors.- An entrepreneur and their business, are so closely tied together that a bank will want to see how they handle their personal affairs, before granting a small business line of credit.
|
|
Calculate pcb loading in a 1 lb catfish dwelling in lake
: Calculate the PCB loading in a 1 lb catfish dwelling in the lake. Assume equilibrium between the various phases in the system.
|
|
Discusses the communication process
: In a well thought-out post of 500 words or more (in your own words), please answer the following. Please use the proper APA citation process for referencing: 1. Use the Internet to find a source that discusses the communication process. What are th..
|
|
Statement of cash flows under fifo-lifo and weighted average
: The accounting records of Freds Sporting Goods reflected the following balances as of January 1 2015. Compute the cost of goods sold and ending inventory, assuming FIFO cost flow. Prepare the 2015 income statement (mulit-step), balance sheet and stat..
|
|
Estimate the ph of cloud water
: The concentration of sulfate in the atmosphere over oceans is -0.06μg/m3. If the water content of cloud is 1 g/m3, estimate the pH of cloud water. Assume that all the sulfate exists as sulfuric acid.
|
|
Examples of satisfactory responsiveness
: Describe large, bureaucratic organizations with which, you have had contact that have not responded flexibly to customer demands. Also describe examples of satisfactory responsiveness. What do you think accounts for the differences between the res..
|
|
Defines prohibited activities of public employees
: According to the text, the Hatch Act defines prohibited activities of public employees. Analyze the significance of these prohibitions with regard to an individual's political actions. Provide a rationale for your response.
|
|
Use spreadsheet to perform feasibility analysis
: Rossco is considering the purchase of a new computer with the following estimated costs: initial systems design, $54,000; hardware, $74,000; software, $35,000; one time initial training, $11,000; system installation, $20,000; and file conversion, $12..
|