User Account

All Pages

What amount should Etsy report as cost of goods

Assignment Help Accounting Basics
Reference no: EM132917250

Question - Etsy Co. uses a periodic inventory system. The following are inventory transactions for the month of January: 1/1 Beginning inventory 10,000 units at $3 1/5 Purchase 5,000 units at $4 1/15 5,000 units at $5 1/20 Sales at $10 per unit 10,000 units. Etsy uses the average pricing method to determine the value of its inventory. What amount should Etsy report as cost of goods on its income statement for the month of January?

Reference no: EM132917250

Questions Cloud

Geographic location should be target for global expansion : What geographic location should be a target for global expansion? What background information can you provide to support this decision?
Prepare general journal entries to record the transactions : Feb 2 Purchased plumbing tools for $1,000 on account. Prepare general journal entries to record the transactions
What options does Phoebe Photo Studio to correct error : What options does Phoebe's Photo Studio have to correct this error if the payment has not yet been recorded? If the payment has been recorded
Persuasive-what are the three tests for truth : What are the three "tests" for truth? Which do you find the most persuasive? Why? Which solution to the problem of evil do you find most convincing?
What amount should Etsy report as cost of goods : Etsy Co. uses a periodic inventory system. What amount should Etsy report as cost of goods on its income statement for the month of January
How much is the share of Choji in the partnership profits : The partnership has a credit balance of P 230,000 in the income summary account. How much is the share of Choji in the partnership profits
Explain how concepts of risk control and quality : Explain how the concepts of risk control and quality are related within the project management discipline. How do the two knowledge areas impact one another?
What is the leadership paradox : What is the leadership paradox? Give some reasons why a leader can encounter difficulty in newly formed teams or groups using a participative management system.
What is the amount of the Cost of Goods Sold : Using the above amounts, what is the amount of the Cost of Goods Sold on the Schedule of Cost of Goods Sold

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are examples of some very effective strategies

What are budget strategies and why are they so important to a governmental unit? What are examples of some very effective strategies?

  Compute the return on ordinary shareholders funds

Earnings before interest and taxes are $100,000. Interest is $21,000 and taxes are $34,000. Compute the return on ordinary shareholders' funds

  Write a paper on the sarbanes oxley act

Write a paper on the Sarbanes Oxley Act of 2002. A formal introduction paragraph, including thesis. The circumstances leading up to the Act. A summary of the major provisions of the Act

  How ratio analysis can be used to interpret accounts

Explain how ratio analysis can be used to interpret accounts from the perspective of two stakeholders. Calculate the Return on capital employed

  Journalize the entries required on each date

The declaration, record, and payment dates in connection with a cash dividend of $101,600. Journalize the entries required on each date

  Compute the variable overhead rate and efficiency variances

Becton Labs, Inc., produces various chemical compounds for industrial use. Compute the variable overhead rate and efficiency variances

  Predetermined overhead rate based on machine-hours

Uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company estimated that it would incur $510,000 in manufacturing overhead during the year and that it would work 100,000 machine-hours.

  Clculate depreciation expense for 2012 and 2013 using the

el tapitio purchased restaurant furniture on september 1 2012 for 36400. residual value at the end of an estimated

  Perma weave textiles corporation began january with a

perma weave textiles corporation began january with a budget for 28000 hours of production in the weaving department.

  Calculate the expected annual sick-leave expense

Calculate the expected annual sick-leave expense for Bear Island Ltd (on the basis of average salaries). Provide the journal entries necessary to recognise.

  Calculate the company current ratio

Inventory of $3,000, Long-Term Assets of $40,000, Accounts Payable of $5,000 and a Long-Term Bank Loan of $50,000. Calculate the company's current ratio.

  Descriptive stats for each numeric variable

Create a Microsoft Excel spreadsheet with the two variables from your learning team's dataset - Analyze the data with Microsoft Excel or other statistical tool

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