What would the remaining value of inventory be

Assignment Help Accounting Basics
Reference no: EM133174791

Question - Products in an electronic store consist of the following: 20 TV's purchased in January at a cost of $100 each and 30 TV's purchased in February at a cost of $110. They are all the same model. Using the FIFO inventory method, what would the remaining value of inventory be if 15 TV's were sold?

Reference no: EM133174791

Questions Cloud

Experimental and correlational research : Discuss the differences between experimental and correlational research and why one was more adequate for the study.
Assignment on ethical communication : Do you agree that companies should communicate any and all information that pertain to employees?
East chestnut regional health system : Assume East Chestnut Regional Health upper management has asked you to analyze its current marketing strategies from both ethical and financial perspectives.
Describe the state of downward communication : How would you describe the state of downward communication within your own organization - Do you think Charles and Marschan-Piekkari's ideas hold true
What would the remaining value of inventory be : Products in an electronic store consist of the following: 20 TV's purchased in January at a cost of $100 each. What would the remaining value of inventory be
Why did amy classify the shift leaders as exempt : 1. Why did Amy classify the shift leaders as exempt? Are there any advantages to Jones Department Store to having the shift leaders classified as exempt?
How much loss may Mary claim from the sale : Mary sells to her father, Robert, her shares in AA Corp for $55,000. The shares cost Mary $80,000. How much loss may Mary claim from the sale
Unifying company culture : Imagine you work for one of the following global companies, which has recently merged with a fictitious smaller, domestic company:
Discuss the three important ethical boundaries : Discuss the three most important ethical boundaries as they apply to trauma that you think human service professionals need to be aware of and why.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute net operating assets

Compute net operating assets (NOA) for 2012 and 2011. Treat noncurrent investments as a nonoperating item

  What is your expected salary be at the end of six years

You expect to receive annual end of year raises of 3.4% for 6 years. What is your expected salary be at the end of six years

  Why is it so important that variance reports be prepared

Why is it so important that variance reports be prepared in a timely manner?

  Discuss disadvantages associated with offshore outsourcing

Discuss the disadvantages associated with offshore outsourcing. Describe the differences between compliance and integrity-based ethics. Include examples

  What is the value of the computer on financial statements

At the end of 5 years, Mary's Hair Salon'd computer is working fine. What is the value of the computer on the financial statements given

  Labor markets and greater efficiency

In what ways does the United States have greater flexibility in its labor markets and greater efficiency in its financial system than other higher-income countries such as those in Europe?

  Differences between the experiences of Native Americans

Discuss the differences between the experiences of Native Americans in the United States during colonization and the experiences of Aboriginal people

  Calculate the yield to put semi-annual paying bond

Calculate the yield to put of a 9% semi-annual paying bond, with a par value of R1 000. The bond matures in 20 years, has a market price of R774.31

  Determine the measurement sensitivity

An instrument is calibrated in an environment at a temperature of 20°C. Determine the measurement sensitivity, expressed as the ratio y/x

  Prepare a schedule that shows annual depreciation expense

Prepare a schedule that shows annual depreciation expense for the first two years, assuming the following (Round your answer to nearest whole dollar.)

  What is the tax expense

Assume that gerald company paid $94,000 for income tax at the year 2015. What is the tax expense for 2015

  Why the directors need to recognize a provision

Explain, with reference to the relevant standard, why the directors need to recognize a provision in the statement of financial position at June 30, 2010

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd