Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer. thank you! toinpany reports the f

Please Answer. Thank You! Toinpany reports the following for the month of October:...

80.2K

Verified Solution

Question

Accounting

Please Answer. Thank You!

image

Toinpany reports the following for the month of October: Units Unit Cost October 01 Inventory 300 $5 October 12 Purchase 450 $6 October 23 Purchase 750 $8 October 31 Inventory 180 Total Cost $1,500 $2,700 $6,000 REQUIRED: A. Calculate the ending inventory and cost of goods sold using FIFO. B. Calculate the ending inventory and cost of goods sold using LIFO. C. Calculate the ending inventory and cost of goods sold using average cost. D. With respect to FIFO and LIFO, which cost flow method produces the more meaningful amount for.(1) inventory on the balance sheet and (2) net income? Explain

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Solve the following linear programming problem using generalised simplex method Maximise z= 2x1+3x2 subject to -2x1+x2>=3 3x1+x2<=5 x1,x2>=0

Basic Math
Q

what are some of the key diffrences between compatancy based and value based interviews

General Management
Q

Write a Matlab script-file probl1.m to execute the requested commands (as much as possible) in the...

Advance Math
Q

elastic connective tissue hyaline cartilage dense fibrous connective tissue fibrocartilage Question 14 2 points Listen...

Biology
Q

What values of a and b make ATUV ACDE T a b 11 11 5a...

Geometry
Q

The results of the shirt sales research are as follows Demand Function P 600Q 180...

Basic Math
Q

Question 1 13 Jse the dropdown menu to indicate the ustification of the previous step...

Algebra
Q

P6-4A A local Chevrolet dealership carries the following types of vehicles:...

Accounting
Q

Mama Fran's Bakery makes a variety of home-style cookies for upscale restaurants in the Atlanta...

Accounting
Q

On January 1,2022 , Pipestone Corporation issued a five-year, $40,000,6% bond. The interest is payable...

Accounting
Q

Teal Mountain Limited had the following statement of financial position for the current year, 2023:...

Accounting
Q

Question 8 1)compute the variable overhead spending and efficiency variances ...

Accounting