Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i asked below question earlier. it is periodic inv

I asked below question earlier. It is periodic inventory not perpetual. Thanks ...

90.2K

Verified Solution

Question

Accounting

I asked below question earlier. It is periodic inventory not perpetual. Thanks image
Inventory balance 500 units $10.00 Purchase, April 11 -800 units $8.00 Purchase, June 1-700 units $12.00 Sale May 1 (sold at $38.00 per unit) 500 units Sale July 3 (sold at $38.00 per unit) 520 units Operating expense (excluding income tax expense) $19,009 FIFO, LIFO and weight average Is 500 times 38 units ? Calculate number of goods avail and CSG Ending inventory FIFO, LIFO and weighted average Income statement

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A machine that produces a special type of transistor (a component of computers) has a 10%...

Statistics
Q

Describe the operation of a MRF (Material Recovery Facility) to process Municipal Solid Waste (Refuse) for...

Civil Engineering
Q

Which of the following are true statements about ketones? Select all that apply: Acetone can be used...

Chemistry
Q

Choose the correct answer Show your solution if possible Use the information in the diagram...

Geometry
Q

STATION 2 2 3 3 4 H 4 DISTANCE FT 53 35 29 CUT AREA...

Geometry
Q

Required information [The following information applies to the questions displayed below.]...

Accounting
Q

Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used $ 290,000...

Accounting
Q

3. True or False- A balance scorecard (BSC) has four perspectives; vendors, internal processes, innovation...

Accounting
Q

Landmark buys $330,000 of SRW Company's 11%, 4-year bonds payable, at par value on July...

Accounting
Q

Question 41 3 pts Gator Fabrics Inc. currently has zero debt (i.e., wd = 0)....

Finance
Q

Time 0 Time 1 Time 2 Time 3 Project A - 10,000 5,000 4,000 3,000...

Finance
Q

Suppose the real risk-free rate is 2.70% and the future rate of inflation is expected...

Finance