The following purchases are made during a month: Calculate the cost of 8,000 units sold in the

Question:

The following purchases are made during a month:

image text in transcribed

Calculate the cost of 8,000 units sold in the month and the value of inventory at month end, using:

a. Weighted average method

b. FIFO method

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting For Managers Interpreting Accounting Information For Decision Making

ISBN: 9780470777640

3rd Edition

Authors: Paul M. Collier

See More Books

Question Posted: May 29, 2024 01:01 AM

See More Questions

The researcher records that the child spent 18 minutes playing alone during the 30-minute period. What quantifying method does this situation show? a. interval method b. frequency method c. minute...
Which of these inventory costing procedures does not require a physical count of the inventory items? Question 12 options: retail method specific identification method lower of cost or net realizable...
At the beginning of a fiscal year, Puce Products has 1,500 units of inventory on hand with a FIFO cost of $20 each. No additional purchases are made during the year. 200 units are sold during the...
How does the range of hFE (Fig. 3.23j, normalized from hFE = 100) compare with the range of hfe (Fig. 3.23f) for the range of IC from 0.1 to 10 mA?
Write the Lewis structure for each of the following species, describe its geometry, and indicate the oxidation state of the nitrogen: (a) NH4+ (b) NO2- (c) N2O (d) NO2.
Go to www.pearsonhighered.com/ sullivanstats to obtain the data file 9_4_21. The data represent the status of licenses for short-term rentals in New Orleans, where Yes indicates the license is...
How Can We Study Organizational Culture? (pp. 483491)
1. How are pricing, currency of denomination, and financing interrelated in the value-chain for Crosswell's penetration of the Brazilian market? Can you summarize them using Exhibit B? 2. How...
The primary purpose of Schedule M-2 it to: Reconcile what changes in the tax year impacted the partner's basis accounts. Report cash and property contributions and changes due to depreciation of...
A process produces rubber belts in lots of size 2,500. Inspection records on the last 20 lots reveal the data in Table 6E.5. a. Compute trial control limits for a fraction nonconforming control...
Bluesky Limited's Assembly Department had 20,000 units in WIP on 1 March 2008. Direct mater ials are added at the beginning of the assembly process. An additional 60,000 units were started during...
An item of stock is purchased for 1,500. The sales price was 2,000, but as the item has now been superseded it can only be sold for a discounted price of 1,350. The scrap value of the item is 1,100....
Constant-boiling aqueous HCl can be used as a primary standard for acid-base titrations. When ~20 wt% HCl (FM 36.461) is distilled, the composition of the distillate varies in a regular manner with...
1 . Journalize the following transactions: ( a ) Issued 1 , 0 0 0 shares of $ 1 0 par common stock at $ 5 9 for cash. ( b ) Issued 1 , 4 0 0 shares of $ 1 0 par common stock in exchange for equipment...
Using alpha .05, determine if moving to a larger enclosure decreased tiger anxiety levels. You should first calculate the difference (After - Before) Tiger Before Anthony 45 45 Banthony 56 After 38...
Cyclohexane (C 6 H 12 ) is produced by mixing Benzene and hydrogen. A process including a reactor, separator, and recycle stream is used to produce Cyclohexane. The fresh feed contains 260L/min C 6 H...
Suppose the city is undergoing severe ination. Specifically, both goods prices have risen by 10%. What percentage of a raise in the wage rate should Alex request from her boss, for her to maintain...
1. An iron cube of mass 0.55 kg is raised to a temperature of 100C by being placed in boiling water for 5 minutes. It is then removed and transferred immediately to an aluminium calorimeter filled...
Colgate County issued $ 1 million of 30-year, 8 percent term bonds to nance improvements to its electric utility plant. The bonds, accounted for in an enterprise fund, were issued at par. After the...
If a force of F = 50 Ib is applied to the pads at A and C, determine the smallest dimension d required for equilibrium if the spring has an unstretched length of 1 ft. B 1 ft 1 ft F k = 15016/fr 1ft...
Accounting changes fall into one of three categories. Identify and explain these categories and give an example of each one.
Machinery is purchased on May 15, 2015 for $120,000 with a $10,000 salvage value and a five year life. The half year convention is followed. What method of depreciation will give the highest amount...
Flint Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 514,000 shares of no-par common stock with a stated value of $2...

The following purchases are made during a month: Calculate the cost of 8,000 units sold in the

Question:

Feb 10 6,000 @ 2 Feb 20 3,000 @ 2.20 Feb 28 2,000 @ 2.30

Step by Step Answer:

Accounting For Managers Interpreting Accounting Information For Decision Making

Students also viewed these Business questions