Solution-What is the estimated cost of inventory on march

What is the estimated cost of inventory on march

Assignment Help Accounting Basics

Reference no: EM133163024

Question - Avarice Company has a recent gross profit history of 40% of net sales.

The following data are available from the accounting records for the three months ended March 31:

Inventory - January 1 P650,000

Purchases 3,200,000

Net Sales 4,500,000

Purchase Returns 75,000

Freight In 50,000

Required - Using the gross profit method, what is the estimated cost of inventory on March 31?

Reference no: EM133163024

Questions Cloud

Dismissing joe bloom for cause : Karen Lyon, a 30-year-old machine operator in one of the Wilson Bros. Ontario-based food processing plants. She has been with the Company for six years.

What is the internal rate of return : You buy a new piece of equipment for $7,360, and you receive a cash inflow of $1,000 per year for 10 years. What is the internal rate of return

What are the critical differences among interventions : Three popular interventions for enhancing worker satisfaction are job enrichment, job rotation, and role analysis. What are the critical differences among these

Design insisting on higher tolerances : Design insisting on higher tolerances than necessary in an attempt to improve quality conformance and Purchasing making cost savings that compromise quality

What is the estimated cost of inventory on march : Avarice Company has a recent gross profit history of 40% of net sales. Using the gross profit method, what is the estimated cost of inventory on March 31

Monopolistic and monopsony markets in health care : Compare and contrast the market power of monopolistic and monopsony markets in health care.

Arranging for ee discount tickets : Brenda worked as a security manager for the ABC Corporation for over 13 years. She also was a volunteer member of the employee social committee, a role which in

How much will you receive after all taxes are paid : After it will distribute the earnings to its shareholders as a dividend. How much will you receive after all taxes are paid

Level of customer satisfaction : Assess the level of customer satisfaction and individual factors driving high or low satisfaction

User Account

All Pages

What is the estimated cost of inventory on march

Reference no: EM133163024

Reference no: EM133163024

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT