User Account

All Pages

What is the total cost of goods available for sale

Assignment Help Financial Accounting
Reference no: EM133096334

Question - Waldo & Sons started 2021 with $107,000 of merchandise inventory on hand. During 2021, $530,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken.

Purchases were all made f.o.b. shipping point. Waldo & Sons paid freight charges of $8,200.

Merchandise with an invoice amount of $4,400 was returned for credit.

Cost of goods sold for the year was $363,000.

Waldo & Sons uses a perpetual inventory system.

Assuming Waldo & Sons uses the gross method to record purchases, what is the total cost of goods available for sale?

Reference no: EM133096334

Questions Cloud

Estimate the value of your plant : Other costs run RM 1.6 million per year. Estimate the value of your plant if you are awarded the government contract and your sales increase by 20%
What is a scorecard : What is a Scorecard and why do companies use it? Provide an overview of the Balanced Scorecard for Macdonalds Restaurants.
Implement criterion in ehr application : How you would make changes in the organization to achieve compliance with this criterion.
Why more social workers need in new york public school : Why more social workers need in New York public school for children with mental health issues.
What is the total cost of goods available for sale : Purchases were all made f.o.b. shipping point. Waldo & Sons paid freight charges of $8,200. What is the total cost of goods available for sale
How having a gratitude wall can be beneficial : Explain in detail how having a gratitude wall (thanking/ appreciating other co-workers) can be beneficial in employees' happiness in a hotel job?
Discuss the project human resource process : For organization to move its projects from initiation to implementation, there has to be certain keys that need to be observed by the Project HRM.
Determine the ending inventory using the lifo method : Sales for the year totaled 274 units, leaving 14 units on hand at the end of the year. Determine the ending inventory using the LIFO method
Career development in role : Prepare a 400-500 word document as if you were advising a college student on how to find a job in customer service worker and how to advance in their career dev

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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