Reference no: EM133031560
Question - The perpetual inventory system is used by Spurs Inc. You have been given the following information for the month of July:
01-Jul The beginning inventory consists of 200 Units at a total cost of $3,500, or $17.50 per unit
01-Jul Purchase of 600 units @ $18.25 per unit
04-Jul Purchase of 400 units @ $16.75 per unit
10-Jul Sale of 150 Units @ sales price of $75 per unit
17-Jul Purchase of 100 units @ 17.00 per unit
22-Jul Sale of 550 Units @ sales price of $80 per unit
28-Jul Sale of 500 Units @ sales price of $82.50 per unit
Required -
1. Using the Weighted Average method, what is the Value of the inventory at July 17?
2. Record the journal entry, in good form, for the July 1st purchase?
3. Record the journal entry, in good form, for the July 22nd sale?
4. What is the total COGS for the month of July?
Characterize the purpose of the literature review section
: Consider the research article by Cassia, Costa, da Silva, and de Oliveira Neto (2020) provided in this topic.
|
What is the present value
: If you are offered ?$300,000 in 13 years and you can earn 11 percent on your? money, what is the present value of ?$300,000?
|
Explain personalised and professional service
: Identify a retailer you have shopped with on a regular basis and a case study that answers the questions listed. Revisit one of the retailer's stores a few time
|
Forming relationships between departments
: As an organisational behavior expert, why do you think of forming relationships between departments is essential in a university?
|
What is the value of the inventory at july
: Using the Weighted Average method, what is the Value of the inventory at July 17 - 01-Jul Purchase of 600 units @ $18.25 per unit
|
Prepare the journal entry to record income taxes payable
: Pretax financial income was $896,000. The tax rate is 30%. Prepare the journal entry for 2017 to record income taxes payable and income tax expense
|
Moral dimensions of is
: In your own opinion, describe how your quality of life has improved or declined with the technological advances in the last five years.
|
Explain the organisational behavior expert
: As an organisational behavior expert why do you think of forming relationships between departments is essential in a university?
|
What is snowcap final balance of retained earnings
: Problem - Snowcap, Inc. reports a beginning Retained earnings balance of $20,000. What is Snowcap final balance of Retained earnings
|