What is ending inventory on December

Assignment Help Accounting Basics
Reference no: EM132479108

Question - For 20X1, MacFarland Inc.'s units on hand on January 1 had a unit cost of $14. MacFarland shows the following data for 20X1:

Date

Purchases

Sales

Units on hand

January 1

 

 

40

February 2

60 units @ $15 each

 

 

March 3

 

70 units

 

May 12

90 units @ $16 each

 

 

June 22

 

55 units

 

Sept. 13

75 units @ $18

 

 

November 24

 

60 units

 

If MacFarland uses moving-average costing, what is ending inventory on December 31?

a. $1,015

b. $1,283

c. $1,307

d. $1,353

Reference no: EM132479108

Questions Cloud

Evaluate value of using cost behavior analysis to management : Determine and Analyze the cost components of the primary manufacturing process and examine the significance of cost behavior analysis
Determining the government deficit : Suddenly it decides to spend $5 trillion while raising only $4 trillion worth of taxes. What will be the government's deficit?
What would be the effect on canadian aggregate demand : What would be the effect on Canadian aggregate demand? Suppose the Bank of Canada viewed
Determine the highest interest rate the company : In each case, determine the highest interest rate the company should pay for a loan that makes purchase of the nail gun possible.
What is ending inventory on December : For 20X1, MacFarland Inc.'s units on hand on January 1 had a unit cost of $14. If MacFarland uses moving-average costing, what is ending inventory on December
Examine the elements of the cost-volume-profit : Examine the elements of the cost-volume-profit (CVP) income statement and provide your opinion on the benefits of its use for decision making
Textbook on the fiscal causes of high inflation : In section 8.5 of the textbook on the fiscal causes of high inflation, the government's budget constraint is given by G= T + ?B + ?.
How can specializing in lending help to reduce the adverse : in lending? Provide two (2) examples to support your response.
Describe two actions that the bank manager : If the required reserve ratio is 10%, describe two (2) actions that the bank manager should take if there is an unexpected deposit outflow of $50 million?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What do liquidity ratios represent

What base amount is used for horizontal analysis of both income statement and balance sheets? Give an example. What do liquidity ratios represent

  Calculate the total interest paid

The market value of the investment is expected to increase 4 percent per year. Calculate the total interest paid during each of the four years

  What is the amount of the loss on impairment

What is the amount of the loss on impairment that Beehive should recognize at June 30, 2006?

  Which of the following balance sheet classifications would

1.which of the following balance sheet classifications would normally require the greatest amount of supplementary

  Carlsen company manufactured 6000 units of a component part

carlsen company manufactured 6000 units of a component part that is used in its product and incurred the following

  Prepare the entry on fillmore company books

America Bank charges a 4% service charge for credit card sales. Prepare the entry on Fillmore Company's books to record the sale

  Garcia corporation purchased a truck by issuing an 112800

garcia corporation purchased a truck by issuing an 112800 5-year zero-interest-bearing note to equinox inc. the market

  Montana timber company is in the process of preparing its

montana timber company is in the process of preparing its budget for next year. cost of goods sold has been estimated

  What type of revenue is reported in the other income section

What type of revenue is reported in the other income section of the multiple-step income statement?

  Comparing integer programming and linear programming please

comparing integer programming and linear programming please respond to the following explain how the applications of

  How much does each additional sales dollar contribute

How much does each additional sales dollar contribute toward profit for a firm with $4 million breakeven level of revenues and $1.2 million in fixed costs

  Determine alex minimum net rental income for the year

Alex acquires a residential rental property on June 1, 2018 at a total cost of $423,000. Determine Alex's minimum net rental income for the year

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