Business, 24.02.2020 18:56 slippedsumo
Ziad Company had a beginning inventory on January 1 of 150 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.
Mar. 15 400 units at $23
Sept. 4 350 units at $26
July 20 250 units at $24
Dec. 2 100 units at $29
1,000 units were sold.
Ziad Company uses a periodic inventory system.
1)Determine the cost of goods available for sale. The cost of goods available for sale $ Show Solution
2)Calculate average cost per unit. (Round answer to 2 decimal places, e. g. 2.25.) Average cost per unit $ Show Solution
3). Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average). (Round answers to 0 decimal places, e. g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ Show Solution
4)Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? (1) results in the highest inventory amount, $. (2) produces the highest cost of goods sold, $.
Answers: 1
Business, 22.06.2019 11:10, takaralocklear
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Business, 22.06.2019 19:20, needhelp243435
This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.
Answers: 2
Business, 22.06.2019 19:40, apodoltsev2021
Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.
Answers: 1
Ziad Company had a beginning inventory on January 1 of 150 units of Product 4-18-15 at a cost of $20...
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