Determine Weighted Average: ABC Company uses a perpetual inventory system. They had the following inventory...
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Determine Weighted Average: ABC Company uses a perpetual inventory system. They had the following inventory transactions in April 2013. Inventory balance April 1", 10 units @ $10 April 5, purchased 20 units @ $12 April 10h, sold 15 units 1. Determine the Weighted Average Cost per Unit sold on April 10. 2. What is the total Cost of Goods Sold for the 15 units sold? 3. What is the dollar value of ending inventory after the sale? Depreciation: BigTop Company buys a copy machine for $12,000. Estimated residual value $4,000. Estimated life 4 years or 1.000,000 copies over its life. Actual copies printed in year 1= 230,000 Determine Year 1 depreciation expense: 1. Using Straight-line Depreciation: 2. Using Units-of-Production Depreciation: Sale of Fixed Assets: Equipment costing $10,000 with accumulated depreciation of $8,000 is sold. Record the sale. 1. Assume the company receives $3,500 for the equipment when sold. 2. Assume the company receives $1,500 for the equipment when sold
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