Business, 25.04.2020 01:53 flixtier

Consider the following information for Maynor Company, which uses a periodic inventory system:
Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 12 $ 62 $ 744
March 28 Purchase 22 68 1,496
August 22 Purchase 24 72 1,728
October 14 Purchase 29 78 2,262
Goods Available for Sale 87 $ 6,230
The company sold 29 units on May 1 and 24 units on October 28.
Required:
1. Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.
a. FIFO
b. LIFO
c. Weighted Average

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 12:10

Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)

Answers: 1

Answer

Business, 22.06.2019 13:20

In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.

Answers: 3

Answer

Business, 22.06.2019 13:50

Suppose portugal has 700 workers and 26,000 units of capital, and france has 18,000 workers and 700 units of capital. technology is identical in both countries. assume that wine is the capital-intensive good and cloth is the labor-intensive good. which of the following statements is correct if the nations start trading with each other? a) wages will increase in portugal.b) rental rates in france will increase.c) wages in france will decrease.d) rental rates in portugal will increase.

Answers: 2

Answer

Business, 22.06.2019 17:30

Communication comes in various forms. which of the following is considered an old form of communication? a) e-mail b) letter c) skype d) texting

Answers: 2

Answer

You know the right answer?

Consider the following information for Maynor Company, which uses a periodic inventory system:

Questions