Data for Amsterdam Company are presented below. Compute the April 30 inventory and the April cost of
Question:
Data for Amsterdam Company are presented below. Compute the April 30 inventory and the April cost of goods sold using the FIFOmethod.
Transcribed Image Text:
Total Cost Units Unit Cost April 1 inventory April 15 purchase April 23 purchase 250 250 $10 12 13 $ 2,500 4,800 4,550 400 350 1,000 $11,850
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
April 23 350 X 13 4550 April 15 50 X 12 600 E...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Question Posted:
Students also viewed these Accounting questions
-
The second product Suzie represents is an annuity. The customers of this product are typically retirees that use their retirement savings to buy a steady income stream. Like before, there is a range...
-
Compute cost of goods sold using the following information: Finished goods inventory, beginning . . . . . . . . . . . . . . . . . . . $ 500 Cost of goods manufactured . . . . . . . . . . . . . . . ....
-
Consider the market for petrol. Which of the following changes would most likely lead to a decrease in supply? Group of answer choices (a) An increase in the price of petrol cars. (b) The cost of oil...
-
Hatch plc has two classes of share capital outstanding: 8%, 20 par preference and 5 par ordinary. At December 31, 2021, the following accounts were included in equity. Share CapitalPreference,...
-
What software and hardware infrastructure will be necessary to ensure Personal Trainer can process point of sale transactions?
-
Gold Peak Tea, a Coca-Cola brand, sponsored its Take the Year Off contest. The prize was one year off work and $100,000. Entrants were required to submit a video. Theodore A. Scott, a Decatur,...
-
To hedge an exposed asset, should a call or put option be acquired? For an exposed liability?
-
Hot water at 50C is routed from one building in which it is generated to an adjoining building in which it is used for space heating. Transfer between the buildings occurs in a steel pipe (k = 60 W...
-
Question 4 0.5 / 1 pts Tessa, age 21, single, does not participate in a retirement plan at work and has an adjusted gross income of $130,000. How much can Tessa contribution to a Roth IRA? 4800 How...
-
In a survey of 15 owners of a certain model of car, the following figures for average petrol consumption were reported. 25.5 30.3 31.1 29.6 32.4 39.4 28.9 30.0 33.3 31.4 29.5 30.5 31.7 33.0 29.2...
-
Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Compute the April 30 inventory and the April cost of goods sold...
-
Data for Amsterdam Company are presented below. Compute the April 30 inventory and the April cost of goods sold using the LIFOmethod. Total Cost Units Unit Cost April 1 inventory April 15 purchase...
-
Blackfeather Tours sells scuba diving and kayaking excursions, along with a number of unique sightseeing packages. The company requires a 50% payment from the customer at the time of booking. The...
-
firm c has net income of 45,360 , asset turnover of 1.4 and roi 12.6% calculate firms margin,sales and average total assets
-
A poll of 1065 Americans showed that 47.2% of the respondents prefer to watch the news rather than read or listen to it. Use those results with a 0.10 significance level to test the claim that fewer...
-
Garcia Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for the cost of one unit: Standard Quantity X Standard...
-
Express the confidence interval 0.255 0.046 in the form of p-E
-
5 28 its Jay Oullette, CEO of Bumper to Bumper Incorporated, anticipates that his company's year-end balance sheet will show current assets of $12,801 and current liabilities of $7,540. Oullette has...
-
Oscar's trading company prepares accounts to 31 December. In the year to 31 December 20X1 the following trading transactions occur: Sales Purchases Sales returns Purchases returns 72 411 53 005 361...
-
Three successive resonance frequencies in an organ pipe are 1310, 1834, and 2358 Hz. (a) Is the pipe closed at one end or open at both ends? (b) What is the fundamental frequency? (c) What is the...
-
By specifying characteristics such as color, size, and location,________ determine how a GUI element appears on the screen. a. Properties b. Attributes c. Methods d. Event handlers
-
An accountant must be familiar with the concepts involved in determining earnings of a business entity. The amount of earnings reported for a business entity is dependent on the proper recognition,...
-
Daniel Barenboim sells and erects shell houses, that is, frame structures that are completely finished on the outside but are unfinished on the inside except for flooring, partition studding, and...
-
Anderson Nuclear Power Plant will be mothballed at the end of its useful life (approximately 20 years) at great expense. The expense recognition principle requires that expenses be matched to...
-
Cash from Operating Activities: ______________ Cash from Investing Activities: ______________ Cash from Financing Activities: ______________ Problem 2: Financial Ratios The GAP Macys 1 Current Ratio...
-
On January 1, 2021, Winky Enterprises issued 12% bonds dated January 1, 2021, with a face amount of $2,800,000. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market...
-
Using the following accounts and balances, prepare the stockholders' equity vection of the balance sheet. Pilty thousand shares of common stock are authorised, and 1,000 shares have been recoured,...
Study smarter with the SolutionInn App