Calculate the cost goods sold and ending inventory, Accounting Basics

Calculate the cost goods sold and ending inventory

A company made the following purchases during the year:

Jan 10: 15 units @ 360 each
Mar 25: 25 units @390 each
April 25: 10 units @ 420 each
July 30: 20 units @ 450 each
Oct 10: 15 units @ 480 each

On December 31, there were 28 units in ending inventory. These 28 units consisted of 1 from the January 10 shipment, 2 from the March 15 shipment, 5 from the April 25 shipment, 15 from the July 30 purchase, and 5 from the October 10 purchase. Using specific identification, calculate the cost goods sold and ending inventory for the year.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Calculate the cost goods sold and ending inventory

Reference No:- TGS0686075

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Calculate the units of product wz in june

LHU Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 3.8 hours of direct labor at the rate of $17.00 per direct labor-hour.

Q : What impact would this change make

A company had a highly labor-intensive manufacturing process. Recently it implemented robotics and a number of other technological changes that made the process capital intensive.

Q : Demonstrate that the ground state wave function

Demonstrate that the ground state wave function of a particle in an infinitely deep box is an eigenfunction of the Hamiltonian operator.

Q : How produces a single product had a net operating income

A company that produces a single product had a net operating income of $84,000 using variable costing and a net operating income of $112,910 using absorption costing.

Q : Calculate the cost goods sold and ending inventory

Q : What would the cost of goods sold and ending inventory

What would the cost of goods sold and ending inventory be as reported on the income statement for the year ending December 31, 2014 as reported on the income statement for the year ending December 31, 2014

Q : Calculate the amounts to be reported on each employee

Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-2) for 2011. Enter amounts to the nearest cent if required. Enter all amounts as positive numbers.

Q : Prepare a differential analysis as of september

Prepare a differential analysis as of September 12, 2012, to determine if Product T should be continued (Alternative 1) or discontinued (Alternative 2). If an amount is zero, enter zero "0".

Q : Trade or business expenditures

Which of the following trade or business expenditures of Ajax Inc. are deductible on its current year tax return? If an expenditure is not deductible, explain why it is not a valid deduction.

1936964

Questions
Asked

3,689

Active Tutors

1413820

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Calculate the cost goods sold and ending inventory

Reference No:- TGS0686075

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Calculate the units of product wz in june

Q : What impact would this change make

Q : Demonstrate that the ground state wave function

Q : How produces a single product had a net operating income

Q : Calculate the cost goods sold and ending inventory

Q : What would the cost of goods sold and ending inventory

Q : Calculate the amounts to be reported on each employee

Q : Prepare a differential analysis as of september

Q : Trade or business expenditures

What facilitate a stable, safe, pain-free cervical posture

Interview a bsn-prepared nurse

Does the patient have pearl pupils

Teaching a client with osteoarthritis about self-management

Nurse teaching client with hiv receiving antiretroviral

Nurse is planning care for client who had hip replacement

Describe nurse is caring for a client with hemophilia

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Calculate the cost goods sold and ending inventory

Reference No:- TGS0686075

Recent Questions Asked Accounting Basics

Q : Calculate the units of product wz in june

Q : What impact would this change make

Q : Demonstrate that the ground state wave function

Q : How produces a single product had a net operating income

Q : Calculate the cost goods sold and ending inventory

Q : What would the cost of goods sold and ending inventory

Q : Calculate the amounts to be reported on each employee

Q : Prepare a differential analysis as of september

Q : Trade or business expenditures

Asked Questions