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Q. FIFO under perpetual inventory procedure?
FIFO under perpetual inventory procedure in perpetual inventory procedure the ending balance in the Merchandise Inventory account reflects the most current purchases as a result of making the required entries during the period. As well the firm has already recorded the cost of goods sold in the Cost of Goods Sold account. Exhibit illustrates how to determine the cost of ending inventory under FIFO using perpetual inventory procedure. This graphic uses the same format as the earlier perpetual inventory record in Exhibit. The company sustains a record of the balance in the inventory account as it makes purchases and sells items from inventory.
Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp
Q. Define the accounting process ? The accounting process offers financial data for a broad range of individuals whose objectives in studying the data vary widely. Bank officia
A)Guerrero Company occupied in the following events during 2012: 1. Began operations by issuing common stock to investors for $40,000 cash 2. Given services to customers on a
Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa
Q. Explain about Gross margin method? The steps in computing ending inventory under the gross margin method are - Estimate gross margin based on net sales using the similar
Declared semiannual dividends of $1.20 on 75,000 shares of preferred stock and $0.08 on the 600,000 shares of $20 par common stock to stockholders of record on March 31, payable
Why to and by using in journal, trading a/c, p&l a/c and ledger?
tugade ,masinsin and biore are all famous athletes who have been operating a sports memorabilia store for how many years .The partnership decided to liquadate its operation rather
ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces
Having discussed the possibility of accounting and its emerging function, we are currently in a position to illustrates as to who is an accountant. In an attempt to reply this ques
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