Consider the following information for Maynor Company, which uses a periodic inventory system:
Transaction Units Unit Cost Total Cost
January 1 Beginning
Inventory 29 $ 79 $ 2,291
March 28 Purchase 39 85 3,315
August 22 Purchase 58 89 5,162
October 14 Purchase 63 95 5,985
Goods Available for Sale 189 $ 16,753
The company sold 63 units on May 1 and 58 units on October 28.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to two decimal places and then round your answer to the nearest whole dollar.)
a. FIFO:
b. LIFO:
c. Weighted Average
Answers: 3
Business, 22.06.2019 19:40, izzyisawesome5232
The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.
Answers: 3
Business, 22.06.2019 21:20, marvinsductant6710
White truffles are a very prized and rare edible fungus that grow naturally in the countryside near alba, italy. suppose that it costs $200 per day to search for white truffles. on an average day, the total number of white truffles (t) found in alba is t = 20x − x 2 , where x is the number of people searching for white truffles on that day. white truffles can be sold for $100 each. if there is no regulation, how many more people will be searching for white truffles than the socially optimal number?
Answers: 1
Consider the following information for Maynor Company, which uses a periodic inventory system:
Tran...
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