User Account

All Pages

What is Acme inventory balance at the end

Assignment Help Accounting Basics
Reference no: EM132880571

Question - Acme Corp. began the fourth quarter with 500 items of inventory that it had previously purchased for $10 each. During the fourth quarter, Acme purchased an additional 700 items of inventory for $12 each. Later in the fourth quarter, Acme sold 1,000 items for $15 each, which was the only sale during the quarter. What is Acme's inventory balance at the end of 2020? Acme uses the LIFO cost flow assumption.

Reference no: EM132880571

Questions Cloud

Describe the culture of your company : Provide a brief summary of the history of your company. Describe the culture of your company.
What are the key factors for a theater : What are the key factors for a theater that the grand theater would like to be?
How can supplier with a lower price end up costing : How can supplier with a lower price end up costing the buyer more than a supplier with a higher price? Provide an example.
Game console or small business computer : Is a home computer more or less desirable than a game console or small business computer?
What is Acme inventory balance at the end : Acme sold 1,000 items for $15 each, which was the only sale during the quarter. What is Acme's inventory balance at the end of 2020
Explain the concepts of dismissal : 1. Describe how quits and retirements are a form of voluntary turnover. 2. Explain the concepts of dismissal for just cause and progressive discipline.
Discuss prominent environmental : Discuss a prominent environmental or sustainability practice employed by a company that you believe has been forward thinking and successful in their efforts
Create a multiple-step income statement : Blue Door Corporation's general ledger are presented below for the year ended December 31, 2022: Create a multiple-step income statement
Effectively communicating organization mission : The task of effectively communicating the organization's mission, vision, and values to a new virtual team that has been created in your organization

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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