Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Task: Final Assignment (60% of the Final grade) You must answer all the questions in the proposed business case. This task assesses the following
Task: Final Assignment (60% of the Final grade) You must answer all the questions in the proposed business case. This task assesses the following learning outcomes: Critically understand the differences between the methods of valuation of the inventory Knowing how to properly elaborate an income statement and determine the ending inventory balance. LAUNCH: WEEK 12/DELIVERY: JANUARY 17 2021, 23:59HRS ON MOODLE Submission file format: Excel document with all the answers, clearly identifying all steps, results, journals and including comments besides each answer. BUSINESS CASE (100 points) Jim has recently opened a dry fruits wholesale company dedicated to the sale of peanuts, almonds and pistachios. During its first month of activity, the company has made the following transactions: Kg February 2: Purchase of Pistachios: 2500 Price per Kg $12 Amount $30,000 Purchase of Almonds: 4000 $7 $28,000 Purchas of Peanuts: 6000 $5 $30,000 February 3: Purchase of Pistachios: 1500 $14 $21,000 Purchase of Almonds: 2000 $8 $16,000 Purchas of Peanuts: 2000 $6 $12,000 February 6: Sold to several clients: Pistachios: 2000 $22 $44,000 Almonds: 2500 $13 $32,500 Peanuts: 3000 $9 $27,000 February 6: Sold to Fruits Lovers Inc.:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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