Business, 05.06.2020 21:58 ainhoagmz903
A Calculate inventory amounts when costs are rising (LO6-3)
[The following information applies to the questions displayed below.]
During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 58 $ 50 $ 2,900 Apr. 7 Purchase 138 52 7,176 Jul. 16 Purchase 208 55 11,440 Oct. 6 Purchase 118 56 6,608 522 $ 28,124 For the entire year, the company sells 444 units of inventory for $68 each. Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
Answers: 2
Business, 21.06.2019 20:30
Agood for which demand increases as income rises is and a good for which demand increases as income falls is
Answers: 1
Business, 22.06.2019 02:00
Kenney co. uses process costing to account for the production of canned energy drinks. direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. equivalent units have been calculated to be 19,200 units for materials and 16,000 units for conversion costs. beginning inventory consisted of $11,200 in materials and $6,400 in conversion costs. april costs were $57,600 for materials and $64,000 for conversion costs. ending inventory still in process was 6,400 units (100% complete for materials, 50% for conversion). the total cost per unit using the weighted average method would be closest to:
Answers: 2
Business, 22.06.2019 12:10
Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)
Answers: 1
A Calculate inventory amounts when costs are rising (LO6-3)
[The following information applies to t...
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