User Account

All Pages

What is the company gross profit using fifo

Assignment Help Accounting Basics
Reference no: EM132966259

Question - Dole Industries had the following inventory transactions occur during 2017:

Units Cost/unit

Feb. 1, 2017 Purchase 81.0 $81.0

Mar. 14, 2017 Purchase 140.0 $85.0

May 1, 2017 Purchase 99.0 $88.0

The company sold 230.0 units at $113.0 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO?

Reference no: EM132966259

Questions Cloud

Evaluate how well performed during the internship : Evaluate how well you performed during the internship. Explain whether or not the internship met your expectations. what would you change about your internship
Calculate any leave pay provision : Marks financial year end is 31 December 2016. Calculate any leave pay provision at 31 December 2016 assuming the leave is accumulating and vesting
Does business currently have a procedure for the continuous : Does your business currently have a procedure for the continuous improvement of system processes and work methods? Describe what they are and some improvements
Describe two benefits of one-on-one learning : What actions could you take to analyse the performance of an employee whose job role has changed within the period of their set performance objectives
What is the company gross profit using fifo : The company sold 230.0 units at $113.0 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit
Why would suppliers take an interest in business report : What procedures currently exist in your organisation for reporting system or product failures? How could you apply a FRACAS to your organisation?
What aspects should be reported in a business report : Develop a staffing plan to assess your current employees. Locate any statistics you have regarding their productivity. What aspects should be reported?
How much is the dividend income to be recognize for the year : On October 01, the entity received P600,000 liquidating dividend from A Company. How much is the dividend income to be recognize for the year
Why should marketing team conduct a media outlet analysis : Why should your marketing team conduct a media outlet analysis before sending out your business plan? What steps should you work through to communicate

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate bad debt expense

At the end of 2021, estimate that uncollectible accounts total 20% of ending accounts receivable. Calculate bad debt expense

  An owner has invested 50000 in a business and desires a

an owner has invested 50000 in a business and desires a return on that investment 10. she wants to take 40000 in

  Find the depreciation on the building using straight-line

Find the depreciation on the building using straight-line depreciation. Assume the useful life of the building is five years and the residual value is $15,000.

  Who would be affected if the proposal is implemented

Ethics Case - International Network Solutions. How will a buyback of shares provide a "quick fix" for EPS? Who would be affected if the proposal is implemented

  Calculate the value of the lump sum option

The insurance company is offering a settlement of $450,000 to be paid in a lump sum 2 years from now, Calculate the value of the lump sum option

  Discuss governance of information technology assets

The Director of Information Technology has asked for your assistance in ensuring proper governance of Information Technology assets

  Calculate the unit product cost

The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. calculate the unit product cost

  Find the amount reported as warranty expenses

Kairi Company incurred actual warranty costs relative to 2019 computer sales of P5,400 for parts. Find the amount reported as warranty expenses

  Calculate xyz companys sales commissions

XYZ Company recorded the following information related to their inventory accounts

  Calculate the annual rate of return on the project

Pierre's Hair Salon is considering opening a new location in French Lick, California. Calculate the annual rate of return on the project

  What the key elements of the internal environment section

What are the key elements of the Internal Environment section of the model? What are the key elements of the Control portion of the model

  If her interest rate is 7 compounded annually determine the

jackie is considering buying a 2014 tesla model s costing 69900 and finds that the retaining values of the vehicle over

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