User Account

All Pages

What should be the ending inventory value

Assignment Help Managerial Accounting
Reference no: EM133074504

Question - GNC Co. has the following information regarding its Super-vitamin inventory in the first quarter of 2023:

Beginning inventory on 1/1/2023 500 units each cost $5

Sale on 1/15/2023 400 units each sold for $8

Purchase on 2/15/2023 300 units each cost $5.50

Purchase on 3/15/2023 100 units each cost $6

Sale on 3/31/2023 200 units each sold for $8

Assume that GNC uses periodic inventory system and LIFO. Also assume that at the end of the first quarter, a physical count shows that there are 280 units of Super-vitamin in the ending inventory. What should be the ending inventory value in the first quarter?

Reference no: EM133074504

Questions Cloud

What is the present value : Your uncle offers you a choice of $102,000 in 10 years or $38,000 today. If money is discounted at 9 percent, what is the present value of the $102,000
What should be the change in net accounts receivable : Now GoldenDays writes off $15,000 receivable. What should be the change in net accounts receivable after the write-off
How a game developer in new zealand could generate : How a game Developer in New Zealand could generate authentic looking photographs/videos in a matter of seconds
Unusual environmental problems : Identify any unusual environmental problems (for example: heavy metals due to mining, water pollution due to farming or industry) in your neighborhood
What should be the ending inventory value : Assume that GNC uses periodic inventory system and LIFO. What should be the ending inventory value in the first quarter
Encrypted password authentication and ip authentication : Which ensures that a user is who he or she claims to be. The second stage is authorization, which allows the user access to various resources
Compute the bond carrying value as of december : Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2024
Calculate firm weighted average cost of capital : A company has determined that its optimal capital structure consists of 45 percent debt and the rest is equity. Given the following information, calculate the f
Implementing strategies to help bridge the gap : How do you see yourself implementing strategies to help bridge the gap for those that have culturally diverse needs in your classroom?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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