User Account

All Pages

What is vania inc cost of ending inventory on october

Assignment Help Accounting Basics
Reference no: EM133068184

Question - Use the following information for Vania Inc. for the following three questions. The company uses the perpetual inventory system, and recorded the following transactions in the month of October 2018.

Oct 1 On hand, 50 units @ $15 each

Oct 5 Purchased 75 units @ $18 each

Oct 10 Sold 65 units @ $32 each

Oct 14 Purchased 75 units @ $24 each

Oct 29 Sold 85 units @ $38 each

Required -

1. What is Vania Inc's Gross Profit for October 2018 using the FIFO inventory assumption?

2. What is Vania Inc's Cost of Ending Inventory on October 31, 2018 using the Weighted Average inventory assumption?

3. What is Vania Company's Cost of Goods Sold for October 2018 using the LIFO inventory assumption?

Reference no: EM133068184

Questions Cloud

What will be the revised figure for owner equity : A piece of equipment with a carrying amount of £13,000 was sold for £9,000. What will be the revised figure for owner equity
Define workable strategy : entrepreneurs brimming with optimism and enthusiasm launch businesses destined for failure because their founders never stop to define a workable strategy
What is the amount of direct materials purchased : Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. What is the amount of direct materials purchased
What is account balance before rebalancing : You have one million dollars in your investment account and choose to keep your money allocated in the following proportion and rebalance each quarter:
What is vania inc cost of ending inventory on october : The company uses the perpetual inventory system, What is Vania Inc's Cost of Ending Inventory on October 31, 2018 using Weighted Average inventory assumption
Estimate a simple linear regression of y on x : Suppose you estimate a simple linear regression of Y on X, and another simple linear regression of X on Y.
Calculate the npv of the proposed investment : Smith Inc. operates in a 30% tax-bracket for the entire period. Calculate the NPV of the proposed investment in the new furnace
Business ethics and corporate social responsibility : Using the definition in course readings define Ethics, Business Ethics and Corporate Social Responsibility.
What are the portfolio weights for a portfolio : What are the portfolio weights for a portfolio that has 135 shares of stock a that sell for 48 per share and 165 shares of stock b that sell for 29 per share co

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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