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Weighted-average under periodic inventory procedure the weighted-average method of inventory costing is a income of costing ending inventory using a weighted-average unit cost. Companies most frequently use the weighted-average method to determine a cost for units that are basically the same such like identical games in a toy store or identical electrical tools in a hardware store. Ever Since the units are alike firms can assign the same unit cost to them. In periodic inventory procedure a company conclude the average cost at the end of the accounting period by dividing the total units purchased plus those in beginning inventory into total cost of goods available for sale. The ending inventory is carrying out at this per unit cost. To see how a company utilizes the weighted-average method to determine inventory costs using periodic inventory procedure observe Exhibit 55. Note that we calculate weighted-average cost per unit by dividing the cost of units available for sale USD 690 by the total number of units available for sale 80. Therefore the weighted-average cost per unit is USD 8.625 meaning that every unit sold or remaining in inventory is valued at USD 8.625.
HOW TO DO DOUBLE ENTRY QUESTIONS
Answer the following questions in 200 to 300 words: · Nonprofit organizations are required to produce financial statements based on the accrual method of accounting
Hello, I'm having trouble understanding Direct Cost, Overhead Cost and Indirect Cost. ***Also Period cost and Product cost. please can anyone explain it and give examples for eac
list me all the asset in the world?
Distinctions between management and financial accounting We can observe that management accounting is less constrained than financial accounting. It may draw from a range of s
Liz Marett is the chief financial officer for Fulton Restaurants. She delivered the following comments in a recent conference call with analysts that follow the company: "20X5
Received $170,000 cash from Electronic Arts, Inc. for service revenue earned in January.
Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.
Q. What is Gross selling price? When a sale is on account it credits the Sales account as well as debits Accounts Receivable. The following entry records a USD 20000 sale on ac
The injection molding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 ga
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