Business, 08.04.2020 04:41, skyrileycasting

A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 410 units. 150 units remain in ending inventory at January 31.

Units Unit Cost
Beginning inventory on January 1 370 $ 3.60
Purchase on January 9 80 3.80
Purchase on January 25 110 3.90

Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round per unit costs to 3 decimal places. Amounts to be deducted should be indicated with a minus sign.)

Periodic Weighted Average Inventory on hand Cost of Goods Sold
# of units Cost per unit Inventory Value # of units sold Avg. Cost per unit Cost of Goods Sold
Beginning Inventory $0
Purchase - January 9 80 $3.800 304
Purchase - January 25 110 $3.900 429
Available for Sale 190 733
January Sales 0
Total 190 $733 0 $0

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:30, chris7055

How does knowing about supply and demand

Answers: 1

continue

Business, 21.06.2019 21:00, taytaycola223

After discussing the options, the strategic management team has agreed that the pod coffee idea works well with the company's mission statement and decides that the company should move forward in exploring the pod coffee idea. in order to make sure that the pod coffee idea is a good one, and to see if there are other potential future endeavors to pursue, you must analyze the market situation and formulate a strategy. your boss asks you to start working on the pod coffee idea. what is your first stepa. your first step is to formulate a strategy for how to market the pod coffee concept. b. your first step is to consult with your boss and find out what he thinks about the pod coffee idea. c. your first step is to do some research to find out what your competitors are doing. d. your first step is to analyze the organization's strengths, weaknesses, opportunities, and threats.

Answers: 2

continue

Business, 22.06.2019 00:30, kierafisher05

You wants to open a saving account. which account will grow his money the most

Answers: 1

continue

Business, 22.06.2019 04:40, mswillm

Dahlia enterprises needs someone to supply it with 127,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you’ve decided to bid on the contract. it will cost you $940,000 to install the equipment necessary to start production; you’ll depreciate this cost straight-line to zero over the project’s life. you estimate that in five years, this equipment can be salvaged for $77,000. your fixed production costs will be $332,000 per year, and your variable production costs should be $11.00 per carton. you also need an initial investment in net working capital of $82,000. if your tax rate is 30 percent and your required return is 11 percent on your investment, what bid price should you submit? (do not round intermediate calculations and round your final answer to 2 decimal places. (e. g., 32.16))

Answers: 3

continue

Do you know the correct answer?

A company reports the following beginning inventory and purchases for the month of January. On Janua...