Business
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, $.

answer
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 15:30, dontap3037
Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. in this case, the country that produces jeans will produce 32 million pairs per month, and the country that produces corn will produce 32 million bushels per month.
Answers: 1
image
Business, 22.06.2019 01:30, kel3194
Standardization is associated with which of the following management orientations? a) ethnocentric orientation b) polycentric orientation c) regiocentric orientation d) geocentric orientation
Answers: 1
image
Business, 22.06.2019 10:30, drejones338p04p2p
How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.
Answers: 1
image
Business, 22.06.2019 23:00, tonya3498
Which of the following is not one of the four principles of bottleneck management? a. increasing capacity at non-bottleneck stations is a mirageb. lost time at the bottleneck is lost system capacity. c. release work orders to the system at the bottleneck's capacity pace. d. increased bottleneck capacity is increased system capacity. e. bottlenecks should be moved to the end of the system process.
Answers: 1
Do you know the correct answer?
Ziad Company had a beginning inventory on January 1 of 150 units of Product 4-18-15 at a cost of $20...

Questions in other subjects:

Konu
Mathematics, 10.06.2021 17:20