FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NOVA Sports inc. has the following data for inventory for June: Records show that 90 units were sold in June. The company uses the average

image text in transcribed
NOVA Sports inc. has the following data for inventory for June: Records show that 90 units were sold in June. The company uses the average cost method. What is the value of ending inventory as of June 30 ? (Round the weightedaverage unit cost to three decimal places (e.3. 21.041). Rotund your answer to two decimal places (es. 21.04). Do not include dollar signs or commas in your answer.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Vehicle Mileage Log For Tracking And Tax Accounting Business Trip Mileage Log For Tracking And To Use For Tax Accounting

Vehicle Mileage Log For Tracking And Tax Accounting Business Trip Mileage Log For Tracking And To Use For Tax Accounting

Authors: Thrifty Thrift

1st Edition

B0BTS54638

More Books

Students also viewed these Accounting questions

Question

★★★★★
Suppose that people expect deflation (a falling price level), but aggregate demand remains at AD0. a. What happens to the short-run and long-run aggregate supply curves? (Draw some new curves if you...

Answered: 1 week ago

Question

★★★★★
Please answer the models question regarding the two cash flow diagrams PLEASE DRAW THE CASHFLOW DIAGRAMS Salwid-Mort, a mortgage broker, has hired you to develop a spreadsheet they will use with...

Answered: 1 week ago

Question

★★★★★
Problem 5.4. The doors of the mouse's house in Fig. 5.4 are fixed so that they periodically get larger and smaller. This causes the mouse's transition probability between rooms to become time...

Answered: 1 week ago

Question

★★★★★
The three following diagrams show the supply of luxury ocean liners at three different levels of aggregationthe entire world, a particular country, and a particular firm. a. Which diagram shows the...

Answered: 1 week ago

Question

★★★★★
The company's net income for the year was $153 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $28. The net cash provided by (used in) operating...

Answered: 1 week ago

Question

★★★★★
Stock Split Dapple Corp Declared a 3:1 Stock Split Common Stock: $3.00 PV, 1,200,000 shares authorized, 800,000 shares issued and outstanding. PIC in Excess of PV $250,000 Current market price =...

Answered: 1 week ago

Question

★★★★★
Keelan visited a local accounting office and gave a demonstration to the accountants of a software product he was selling that streamlined the tax filing process. The accountants were excited at the...

Answered: 1 week ago

Question

★★★★★
P15-6- EOQ, reorder point, and safety stock Outdoor Living Manufacturers uses 1,000 units of a product per year. The fixed cost is $28 per order, while the carrying cost is $5 perunit per year. The...

Answered: 1 week ago

Question

★★★★★
In order to show more reported gains or less reported losses on the income statement, "gains trading" can be accomplished by selling securities classified as ____ with gains or by transferring...

Answered: 1 week ago

Question

★★★★★
A worker in charge of assembling a bicycle finds a faster way to mount the pedals. He turns to his supervisor. The supervisor explains that the process had been optimized by the engineering...

Answered: 1 week ago

Question

★★★★★
Gamma Manufacturing has prepared the following flexible budget for October and it is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable...

Answered: 1 week ago

Question

★★★★★
2. Define communication.

Answered: 1 week ago

Question

★★★★★
2. Analyzing Cultural Patterns. Find a text or speech that discusses some intercultural or cultural issues, and analyze the cultural patterns present in the text. Consider, for example, the I Have a...

Answered: 1 week ago

Question

★★★★★
f. What was your neighborhood like? Discuss your answers with classmates. Analyze how your own cultural position is unique and how it is similar to that of others.

Answered: 1 week ago

Previous Question Next Question