User Account

All Pages

Vaughn company sells fishing poles for 35 each and uses the

Assignment Help Accounting Basics
Reference no: EM13603826

Vaughn company sells fishing poles for 35$ each and uses the perpetual inventory system. The following information is available for the month of May: May 1 beginning inventory 20 units @ 5$: May 10 purchase 20 units @ 8$: May 15 sales 25 units: May 18 Purchase 10 units@ 9$: May 21 23 units A) using LIFO prepare the journal entries

1A) What is the ending inventory on May 30th in units and Dollars? B) Using FIFO: What is the inventory on May 30th in units and dollars?

1B) What is the Gross profit?

Reference no: EM13603826

Questions Cloud

Taos company purchased merchandise for resale from tuscon : taos company purchased merchandise for resale from tuscon company with an invoice price of 22000 and credit terms of
Assume simple co had credit sales of 254000 and cost of : assume simple co. had credit sales of 254000 and cost of goods sold of 131000 for the period. simple uses the
Assume that simple co had credit sales of 286000 and cost : assume that simple co. had credit sales of 286000 and cost of goods sold of 134000 for the period. simple uses the
Taos company purchased merchandise for resale from tuscon : taos company purchased merchandise for resale from tuscon company with an invoice price of 22000 and credit terms of
Vaughn company sells fishing poles for 35 each and uses the : vaughn company sells fishing poles for 35 each and uses the perpetual inventory system. the following information is
If the x component of acceleration is a14t2ms2 where t is : a rocket is fired from rest at x0 and travels along a parabolic trajectory described by y2120103xm. if the x component
Sonoma winery has fixed costs of 12000 per year its : 1sonoma winery has fixed costs of 12000 per year. its warehouse sells wine with variable costs of 80 of its unit
Super sales company is the exclusive distributor for a : super sales company is the exclusive distributor for a revolutionary bookbag. the product sells for 60 per unit and has
The coefficient of restitution of the impact is e 5 : the 10-kg mass a is moving at 5 ms when it is 1 m from the stsaionary 10 kg mass b. the coefficiient of kinetic

Reviews

Write a Review

Accounting Basics Questions & Answers

  Mikes agi is 120000 before any of the above expenses are

mike incurs the following employment-related expenses in the current yearactual automobile expenses 2500moving

  Determine the break-even sales volume in dollars

Determine the break-even sales volume in dollars and units and determine the number of units it must sell to generate a $100,000 profit.

  Discuss how inflation or purchasing power impacts stated or

explain how inflation or purchasing power impacts stated or nominal interest rates.what are the pros and cons of

  Crone enterprises uses a word processing computer to handle

crone enterprises uses a word processing computer to handle its sales invoices. lately business has been so good that

  The partnership agreement of jones king and lane provides

the partnership agreement of jones king and lane provides for the annual allocation of thebusinesss profit or loss in

  Payback period and unadjusted rate of return

Determine the payback period and unadjusted rate of return (use average investment.) for each alternative. Indicate which investment alternative you would recommend. Explain your choice.

  Implied annual interest rate inherent in credit terms

Farewell company purchased merchandise with an invoice price of $2000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms?

  Case study of dover hot tub company

Balance sheet data for the Dover Hot Tub Company on December 31,the end of the fiscal year are as follows:

  Suppose kaplan as the sole owner of sky air is considering

suppose kaplan as the sole owner of sky air is considering the purchase of a company jet for executive rather than for

  Many accounting writers have emphasized the effect that the

many accounting writers have emphasized the effect that the can have on managerial incentives to overproduce. when

  Cedars hospital has average revenue of 180 per patient day

cedars hospital has average revenue of 180 per patient day. variable costs are 45 per patient day fixed costs total

  Kline company an accrual basis calendar year corporation

kline company an accrual basis calendar year corporation reported 560000 net income before tax on its financial

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