Your supervisor to submit the cost of ending inventory

Assignment Help Financial Management

Reference no: EM132066829

1. Given the following information, you have been requested by your supervisor to submit the cost of ending inventory under LIFO periodic. At year-end 850 units remained in inventory.

January 1 inventory: 2,500 at $2.95

April 9: 4,000 at $4.00

June 15: 1,000 at $6.50

August 10: 500 at $7.00

December 9: 200 at $8.50

2. Given the following information, you have been requested by your supervisor to submit the cost of ending inventory under Weighted-Average periodic. At year-end 850 units remained in inventory (round the answer to whole dollar).

January 1 inventory: 2,500 at $2.95

April 9: 4,000 at $4.00

June 15: 1,000 at $6.50

August 10: 500 at $7.00

December 9: 200 at $8.50

3. Javon Corp. had a beginning inventory of 300 cans of paint on January 1, at a cost of $2,100. During the year, the following purchases were made:

February 15: 200 cans @ $8

May 5: 250 cans @ $10

December 8: 100 cans @ $12

By assuming 310 cans were left in inventory, what is the cost of ending inventory under the LIFO periodic method?

4. Given the following information, you have been requested by your supervisor to submit the cost of ending inventory under FIFO periodic. At year-end 850 units remained in inventory. January 1 inventory: 2,500 at $2.95

April 9: 4,000 at $4.00

June 15: 1,000 at $6.50

August 10: 500 at $7.00

December 9: 200 at $8.50

5. Al Smith bought a duplicating machine for $32,000 with a residual value of $2,000 on March 20. The estimated life of the machine is 5 years. Al will use the sum-of-the-years'-digits method. Calculate the depreciation for year 4?

Reference no: EM132066829

Questions Cloud

Net present values of two mutually exclusive projects : The point where the net present values of two mutually exclusive projects are equal is referred to as the: crossover point.

Explain the benefits of managed care : Managed care does exist in Saudi Arabia but is not as prevalent as other countries. Draft a paper analyzing the need for or against manage care in Saudi Arabia.

How can businesses use technology and relationships : How can businesses use technology and relationships to reduce their environmental impact?

Create a health risk assessment form for a private insurer : Create a Health Risk Assessment (HRA) form for a private insurer in Saudi Arabia to assess individuals' health and lifestyle to determine risk and premium cost.

Your supervisor to submit the cost of ending inventory : You have been requested by your supervisor to submit the cost of ending inventory under LIFO periodic. At year-end 850 units remained in inventory.

Concept of risk and return relating to financial analysis : How to apply the Capital Investment Decisions process and concept of 'risk and return' relating to financial analysis?

Analyze how the critical success factors apply to the facts : Determine the project benefits, organizational readiness, and risk culture of the company in the case study. Provide justification for your response.

Develop a statement that encapsulates your intent : Develop a statement that encapsulates your intent in a sentence or two - Your statement of Intent should not include any specific goals

Analysis of a company capital structure important : Why is analysis of a company's capital structure important?

User Account

All Pages