Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question six: (10 marks) The following is the card goods for Pablo Company for November 2017: data # units Unit cost data sold purchased Balance

image text in transcribed

Question six: (10 marks) The following is the card goods for Pablo Company for November 2017: data # units Unit cost data sold purchased Balance 600 6 3 500 @$10 4 1500 6.08 9 1300 @10 8 800 6.4 11 500 @11 13 1200 6.5 23 1200@11 21 700 6.5 27 900 @12 29 500 6.79 Assuming the company used periodic inventory system under weighted average flow cost method. equired: 1) Calculate the ending inventory. 2) If the company uses the cost method to record the net realizable value and the beginning balance was $ 300 credit with net realizable value for this year for ending inventory $4700, recorded the required entries. 3) If the company uses the lose method to record the net realizable value and the beginning balance was $ 400 debit with net realizable value for this year for ending inventory $5000, recorded the required entries

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

Mastering ISO Auditing A Comprehensive Guide To Learn ISO Auditing

Authors: Cybellium Ltd, Kris Hermans

1st Edition

B0CHL9PQFC, 979-8861285858

More Books

Students also viewed these Accounting questions

Question

What is conservative approach ?

Answered: 1 week ago

Question

What are the basic financial decisions ?

Answered: 1 week ago