User Account

All Pages

What was the gross margin for march

Assignment Help Accounting Basics
Reference no: EM132615162

On March 1st, Manav had six TVs ($200 cost). Each Monday this month (March 6 th, 13 th , 20th, and 28th), Manav purchased ten TVs from his supplier. The price increased to $210 on March 12th, but dropped to $205 on March 28th. Manav sold five TVs in week one, eight in week two, eleven in week three, and six in week four.

Question 1: Assuming the selling price was $400 per TV and Manav uses the movingweighted-average method, what was his gross margin for March? Make all necessary journal entries and SHOW YOUR WORK!

Question 2: Repeat 1, but using the first-in-first-out method.

Reference no: EM132615162

Questions Cloud

Find the vector magnetic field intensity in cartesian : Find the vector magnetic field intensity in Cartesian co-coordinates at point P (1.5,2,3) caused by current filament of 24 Ain az direction
Find ways to achieve economies of scope by leveraging assets : Find ways to achieve economies of scope by leveraging assets and capabilities across business units.
What are the three stages of concerns to the accountant : What are the three stages of concerns to the accountant in accounting for import-export transactions? Explain in details the accounting for each stage.
Explain preliminary hearings to your classmates : The judiciary is an important part of the criminal justice system. After police arrest an individual, an extensive chain of events is set off in the American.
What was the gross margin for march : Assuming the selling price was $400 per TV and Manav uses the movingweighted-average method, what was his gross margin for March?
How many years is the received : If the future receipt is discounted at an interest rate of 8%, its present value is $166786. In how many years is the $420000 received
Find the magnitude and the direction of the field : Find the magnitude and the direction of the field at the following points : (a) the origin (b) x = 0.2m, y = 0 (c) x = 0.1m, y = 0.15m; (d) x = 0, y = 0.1m.
Explain the appropriate action an accountant should take : Of three cheques written in July, For each bank reconciliation item, describe the appropriate action an accountant should take. If a journal entry is needed.
What is the unknown charge : A negative charge of -0.545 µC exerts an upward 0.195 N force on an unknown charge 0.275 m directly below it.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining the bond redemption decision

Armstrong Aero Ace, a flight training school, issued $100,000 of 20-year bonds at face value when the market rate was 10%. The bonds have been outstanding for ten years.

  How much will t receive in liquidation

All of the assets are sold for $40,000. How much will T receive in liquidation if the special allocation is to be respected

  Method best tracks the wear and tear on the van

BagODonuts Company bought a used delivery truck on January 1, 2010, for $19,200. The van was expected to remain in service 4 years (30,000 miles). BagODonutsAc€?c accountant estimated that the truckAc€?cs residual value would be $2,400 at the end ..

  How the entry to record issuance of the bonds would include

How the entry to record the issuance of the bonds would include a?On October 1, 2017 Sunland Company issued 6%, 10-year bonds with a face value

  What total amount of cash will siebens collect on may

On June 1, 2014, Siebens Enterprises loaned $20,000 to Tyler Company for one year at 8 percent. What total amount of cash will Siebens collect on May 31, 2015?

  Business analytics implementation plan

In learning about BA, you have covered quite a few topics from the manager's decision-making process to technology integration. The best way to pull all of this knowledge together is to create a BA implementation plan for a hypothetical organizati..

  Company a wants to expand it is considering a purchase of

company a wants to expand. it is considering a purchase of company b for 3 million dollars. company b has a 700000 tax

  Concept of variable overhead efficiency variance

Budgeted variable overhead for the year is $120,000. Expected activity is 20,000 standard direct labor hours. The actual hours worked were 18,000 and the standard hours allowed for actual production were 19,500. The variable overhead efficiency va..

  What is cvp analysis

What is CVP analysis? Why is this an important analysis for a company to perform?

  Compute the cost of the cash discount based

Compute the cost of the cash discount based on the three policies under consideration. Recall the total credit sales were $18 million. Multiply total credit sales times the percent that use the discount for each new discount policy times the size of ..

  How to demonstrate what is the stock value

What is the stock's value? Suppose a stock has just paid a $5 per share dividend. The dividend is projected to grow at 10% for the next two years

  Explain rationale and the expected effect on business

Imagine that you are starting your own home improvement business and will need 10 workers of varying skills. Would you prefer to hire employees or independent.

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