Business, 31.03.2020 23:53 CelesteN64

Calculate ending inventory and cost of goods sold for 2015, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory, 230 units of inventory from the May 5 purchase, and 180 units from the November 3 purchase.

During 2015, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for 2015.

Date Transaction Number of Units Units Cost Total Cost
Jan. 1 Beginning inventory 60 $82 $4920
May 5 Purchase 250 85 21,250
Nov. 3 Purchase 200 90 18,000
510 $44170

Required:
Calculate ending inventory and cost of goods sold for 2015, assuming the company uses FIFO.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 07:40, sistersquad

Myflvs -question 3 multiple choice worth 2 points)(10.04 hc)in panama city in january, high tide was at midnight. the water level at high tide was 9 feet and1 foot at low tide. assuming the next high tide is exactly 12 hours later and that the height of thewater can be modeled by a cosine curve, find an equation for water level in january for panamacity as a function of time (t).of(t) = 4 + 5of(t) = 5 cost + 4o 460) = 5 cos 1+ 4of(0) = 4 cos + 5

Answers: 1

continue

Business, 22.06.2019 11:30, jacky852

On average, someone with a bachelor's degree is estimated to earn times more than someone with a high school diploma. a)1.2 b)1.4 c)1.6 d)1.8

Answers: 1

continue

Business, 22.06.2019 12:30, ash011519

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.

Answers: 3

continue

Business, 22.06.2019 20:00, 2965276513

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it. g

Answers: 2

continue

You know the right answer?

Calculate ending inventory and cost of goods sold for 2015, assuming the company uses specific ident...