Solution-What was the ending inventory and cost of goods

What was the ending inventory and cost of goods sold

Assignment Help Accounting Basics

Reference no: EM133093238

Question - Factor Company had 20 tons of sand in inventory on January 1, 2019 valued at $50 per ton. On February 1, 2019 it acquired 40 tons valued at $60 per ton and an additional 60 tons at 570 tons on March 1, 2019. On June 1, 2019 it made its only sale of sand for the year amounting to 80 tons. What was the ending inventory and cost of goods sold value for the sand that should be recorded in 2019 using the average cost, FIFO and LIFO methods?

Reference no: EM133093238

Questions Cloud

Estimate the total manufacturing overhead costs : Estimate the total manufacturing overhead costs would DHI incur in the coming year if it were to operate at a level of 65,000 machine-hours

Idemitsu profile of the company : Idemitsu Kosan Co., Ltd. is a Japanese company which refines crude oil and distributes oil products. It was founded by Sazo Idemitsu in 1911 in Moji-City (Kitak

About Apple strategy : Does Apple's strategy seem to set it apart from rivals? What is there about Apple's strategy that can lead to sustainable competitive advantage?

Discuss in detail warehouse businesses : Discuss in detail warehouse businesses and how it works. (Pls don't just copy from website) Pls also provide references for further studies.

What was the ending inventory and cost of goods sold : On June 1, 2019 it made its only sale of sand for the year amounting to 80 tons. What was the ending inventory and cost of goods sold value

Analyse the performance of petronas : Analyse the performance of PETRONAS, the leader's actions during economic downturn as well as growth during this pandemic and provide recommendations, implement

Evidence of sex discrimination : Task assignments to employees are supposed to be done at random. On a certain day, all the best jobs, in order of desirability, were given to the men.

How much of his s corporation income is potentially subject : Assume that Justin B. materially participates in the S corporation. How much of his S corporation income is potentially subject to the net investment income tax

Identify which of the advantage does espn have : Few other sports networks observed the success of ESPN's X-Games and started to broadcast similar competitions. NBC, for example, developed its own version of t

User Account

All Pages

What was the ending inventory and cost of goods sold

Reference no: EM133093238

Reference no: EM133093238

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