What is the company gross profit for December

Assignment Help Financial Accounting
Reference no: EM132882418

Question - A company uses the FIFO cost flow assumption. The beginning inventory balance was zero. Below is showing inventory transactions for December 2000.

Dec. 2: Purchase 125 units at $75

Dec. 15 Purchase 200 units at $74

Dec. 16 Purchase units 375 at $70

Dec. 29 Sale of 650 at $130

What is the company's gross profit for December 2020?

A) $37,381

B) $37,677

C) $37,825

D) $37,500

E) $37,575

Reference no: EM132882418

Questions Cloud

Calculate the earnings per share for the year : On January, 2020 Meribel Ltd. had 192,000 common shares issued and outstanding. Calculate the earnings per share for the year
Description of dilemma : Write a short description of a dilemma you faced at work or school between two or more conflicting value propositions
Social theories of durkheim : Read and reflect on the social theories of Durkheim, Weber, and Marx. Compare and contrast them.
What is the effective rate of interest : Northeast National Bank will lend the money at 18 percent interest and requires a compensating balance of 22 percent. What is the effective rate of interest
What is the company gross profit for December : The beginning inventory balance was zero. Below is showing inventory transactions for December 2000. What is the company gross profit for December
Review strategic management project background : Describe the role of strategic planning in achieving a competitive advantage. Analyze the strengths and weaknesses of Caterpillar Inc's competitive advantages.
Calculate the fully diluted earnings per share : Calculate the fully diluted earnings per share. Present you answers in a layering format, and round all your EPS figures to two decimal points
Strategic alliances : Write a paper that talks about the advantages that partners can receive from forming a strategic alliance to increase their chance of success in entering
Analyze the objective portion of the note : Would you reject/accept the current diagnosis? Why or why not? Identify three possible conditions that may be considered as a differential diagnosis

Reviews

Write a Review

Financial Accounting Questions & Answers

  The production budget calls for producing

Morie Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.70 direct labor-hours. The direct labor rate is $10.60 per direct labor-hour. The production budget calls for producing 7,600 units in Mar..

  How much must set aside each year

If the interest rate is 4%?, how much must you set aside each year to make sure that you will have $4,000,000 in the account on your 65th ?birthday?

  Discuss own firmly held moral stance on an issue

Why are issues of sexual orientation of such significance to religious bodies. Is it one's own firmly held moral stance on an issue. Why or why not

  What costs will change with a decrease in activity

What costs will change with a decrease in activity within relevant range? the cost formula Y=12000+R6X, total cost at an activity level of 8000 units

  Interest rates on treasury securities are currently

Interest rates on 4-year Treasury securities are currently 8%, while 6-year Treasury securities are 8.5%. If the pure expectations theory is correct, what does the market believe that 2-year securities will be yielding 4 years from today?

  Comparison of mutually exclusive projects based on eac

Comparison of Mutually Exclusive Projects based on EAC & NPV and Eads Industrial Systems Company (EISC) is trying to decide between two different conveyor belt systems.

  How well or badly did mad do relative to expectations

Based on the intercept, how well or badly did MAD do, relative to expectations, during the period of regression? The firm sold off its magazine division

  What is the value of glassmakers equity

The premerger debt is $5, the premerger equity is $10. The risk free rate is 6%. The premerger beta is 1.36. The tax rate is 40%. The cost of debt premerger is 11%. The expected market rate of return is 10%. The cash flows are: CF0 = 0; CF1 = 4,000,0..

  What is the contribution margin ratio

Rasmussen company sells only one product at a regular price of 30$ per unit. Variable expenses are 75% of sales and fixed expenses are 44000$. Management has decided to decrease the selling price to 25.50$ in hopes of increasing its volume of sales. ..

  Discuss relationship between business risk and beta

Discuss relationship between business risk and beta. Explain why certain shareholders would have a preference on receiving dividends and on the amount

  What rate must be set to generate the required

If the forecasted volume increased to 12,000 procedures and budgeted costs increased to $340,000, while all other variables remained constant, what price should be established?

  Fair value of the noncontrolling interest

On that date, (1) the Small's equity equaled $150,000, (2) the acquisition-date fair values of Small's assets and liabilities equaled their carrying amounts

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