What amount will be reported as cost of goods sold

Assignment Help Accounting Basics
Reference no: EM133072800

Question - Grays Company has inventory of 13 units at a cost of $8 each on August 1. On August 3, it purchased 23 units at $11 each. 15 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 15 units that were sold?

Reference no: EM133072800

Questions Cloud

Calculate the 10-day var based on dear : PNC Bank has nine-year-zero-coupon bonds with a total face value of $150 million. The current market yield on the bonds is 8.5%. The maximum potential adverse m
Calculate the coupon rate-market value : 1. Consider a bond with $1,000 face value and 30 years left to maturity that pays an annual coupon of $40. Calculate the coupon rate, market value, and current
Discuss the risks and performance implications of banks : Discuss the risks and performance implications of banks using purchased funds vs core deposits.
Agency problem between management and shareholders : 1. a. Please list at least two ways to deal with the agency problem between management and shareholders, and discuss their effectiveness.
What amount will be reported as cost of goods sold : Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 15 units that were sold
What is the expected change in stock price : What is the expected change in stock price from January 1 to July 1? Assume the discount rate is zero. (Round answer to 2 decimal places, e.g. 15.25.)
Compute the bond expected rate of return : 1. You own a 25-year, $10,000 par value bond paying 11% interest annually. The market price of the bond is $8,750. Compute the bond's expected rate of return
Calculate the amount of dividend distributed : Preferred shares-$ 6, no par, 8,000 shares outstanding $400,000. Calculate the amount of dividend distributed to the preferred shareholders
What price would the bond sell : -A bond with an annual coupon rate of 8% and the term to maturity of 10 years. The bond has face value of $1,000 and makes semiannual interest payments.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd