Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 09, 2024

Compute the cost of sales and closing inventory for Ganada Coose ltd using the below information: Opening stock with Cost at 10,500 (220 units) and

Compute the cost of sales and closing inventory for Ganada Coose ltd using the below information:

Opening stock with Cost at 10,500 (220 units) and NRV of 11750

Jan purchases 1000 units at 45 per unit

March purchases 950 units totalling 41,250

May sales 930

August purchase 400 units at 41 per unit

November sales 1470 units

Question 1: What is the cost of sales for the AVCO?

Question 2: What is the closing inventory for the AVCO Method?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

74. Show that E(X) np when X is a binomial random variable. [Hint: First express E(X) as a sum with lower limit x 1. Then factor out np, let y x 1 so that the sum is from y0 to yn1, and show that...

Answered: 1 week ago

Question

★★★★★

Kirby County established a tax agency fund to collect property tas for the City of Kb the City of Denton. and Kirby County School Distnct. Total tax levies of the three governmental units were...

Answered: 1 week ago

Question

★★★★★

con on the balance sheet equation, and prepare journal entries to record the tractions (a) HW Buffet Co. employees earned $350,000 in the week ended December 17, 2016. of this $26,775 wat withheld...

Answered: 1 week ago

Question

★★★★★

Another utilization of cash flow analysis is setting the bid price on a project. To calculate the bid price, we set the project NPV equal to zero and find the required price. Thus the bid price...

Answered: 1 week ago

Question

★★★★★

Which item would most likely be classified as a fixture once attached onto real property? Select one: A. Wooden fence B. Plasma 50 TV C. Refrigerator D. Countertop microwave

Answered: 1 week ago

Question

★★★★★

Which of the following is NOT a remedial measure to control business cycles. Question 3 options: Indirect measures Monetary measures Fiscal measures Physical measures

Answered: 1 week ago

Question

★★★★★

Leahy inc, has 10 customers that account for all of its $1,472,000 of net income. its activity-based costing system is able to assign all costs, except for $200,000 of general administrative costs,...

Answered: 1 week ago

Question

★★★★★

When carrying out the control process at MGT , Inc. s manufacturing plant, Sally focuses her attention on the few defective components produced on the assembly line. Although she is concentrating on...

Answered: 1 week ago

Question

★★★★★

Two events each have the probability 0.2 of occurring. The probability that neither is 0.6. These events are: A) mutually exclusive B) independent C) conditional D) mutually exclusive and independent...

Answered: 1 week ago

Previous Question Next Question