Using the information provided above, calculate the cost of sales and inventory value using the FIFO method.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 92% (14 reviews)
Units Unit price 2500 1500 1000 50...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting For Managers Interpreting Accounting Information for Decision Making
ISBN: 978-1119979678
4th edition
Authors: Paul M. Collier
Question Posted:
Students also viewed these Managerial Accounting questions
-
Calculate: The total job cost and the cost per table The cost of sales The value of inventory The gross profit for the tables that were sold
-
Terrier Financial Services has fixed costs of 12,500,000. Shareholders expect a profit return before interest and taxes of 5,000,000. Terrier achieves an average margin of 1.5% on the volume of...
-
Within its relevant range, MaxiVent sells its highest volume of 150,000 units at a total cost of 85,000. Selling its lowest volume of 100,000 units incurs total costs of 75,000. Variable costs per...
-
The formula F(x) = 3x + C gives a different function for each value of C. All of these functions, however, have the same derivative with respect to x, namely F(x) = 3. Are these the only...
-
In teams of three or four, visit an appliance retailer. Check the warranties on various products to find out their duration, disclaimers, and any other related information. What safety information is...
-
Describe the differences between a chain and an independent restaurant. LO.1
-
Describe the components and benefits of an employee assistance program. (pp. 388-391)
-
1. Assume that the elasticity of demand for chewing tobacco is 0.70 and the elasticity of supply is 2.30. Suppose an antic hewing campaign decreases the demand for chewing tobacco by 18 percent. The...
-
Use MACRS to compute the depreciation schedule for office furniture purchased for $80,000 (use the 7 yr depreciation schedule). Assume salvage value is $10,000
-
Chicken feed is transported by trucks from three silos to four farms. Some of the silos cannot ship directly to some of the farms. The capacities of the other routes are limited by the number of...
-
Using the information provided above, calculate the cost of sales and inventory value using the weighted average method.
-
a. Calculate the cost per equivalent unit for the month of April using the weighted average method of process costing. b. Calculate the value of work in progress and the value of completed stock...
-
Saltworks Inc. (SI) produces salt. Its main assets are two pieces of property that have two salt mines in them (mine 1 and mine 2). Both mines are currently in production. The salt exists in a...
-
Photon Technologies, Inc., a manufacturer of batteries for mobile phones, signed a contract with a large electronics manufacturer to produce three models of lithium-ion battery packs for a new line...
-
Mastery Problem: Capital Investment Analysis HomeGrown Company HomeGrown Company is a chain of grocery stores that are similar to indoor farmer's markets, providing fresh, local produce, meats, and...
-
McDonald's and CSR There more than 32,000 restaurants around the world (www.aboutmcdonalds.com/etc/medialib/csr/docs. that carry the McDonald's label and logo. As such, they...
-
Smartwatch Based on a survey by Consumer Technology Association, smartwatches are used in 18% of U.S. households. Find the probability that a randomly selected U.S. household has no smartwatches.
-
Suppose you wanted to purchase a commercial real estate property thats valued at $ 1 , 0 0 0 , 0 0 0 . You could secure financing from a traditional bank, which provides you with $ 7 5 0 , 0 0 0 ....
-
If an impulse is delivered to a system, is work necessarily done on the system?
-
1-Stern observed all of the following results EXCEPT _______ in his experiment. A-one of the recombinant phenotypes was associated with an X chromosome of normal length B-the number of car, B+ male...
-
Auditors are most likely to undertake tests of controls if, after their evaluation of internal controls, they conclude: a. A substantive approach to the audit will be more cost-effective b. Control...
-
What are the three major objectives of budgeting?
-
What are the three major objectives of budgeting?
-
What are the three major objectives of budgeting?
-
Assume that gasoline costs $ 3 . 2 0 per gallon and you plan to keep either car for six years. How many miles per year would you need to drive to make the decision to buy the hybrid worthwhile,...
-
On January 1 , 2 0 2 4 , Pine Company owns 4 0 percent ( 1 2 0 , 0 0 0 shares ) of Seacrest, Incorporated, which it purchased several years ago for $ 6 7 8 , 0 0 0 . Since the date of acquisition,...
-
Typical impact on product costs from implementing ABC include: a. Shifting of manufacturing overhead costs from low volume products to high-volume products. b. Decreases in per unit costs of high...
Study smarter with the SolutionInn App