Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki’s records show the following for the month of January. Sales totaled 330 units.
Date Units Unit Cost Total Cost
Beginning Inventory January 1 240 $70 $16,800
Purchase January 15 450 80 36,000
Purchase January 24 210 100 21,000
Required:
a. Calculate the number and cost of goods available for sale.
b. Calculate the number of units in ending inventory.
c. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.
Answers: 1
Business, 21.06.2019 19:20
Which job role belongs in the middle management level? a. president b. chief executive officer c. department manager d. chief operating officer e. vice president
Answers: 1
Business, 22.06.2019 06:20
At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58
Answers: 1
Business, 22.06.2019 11:20
Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:
Answers: 1
Business, 22.06.2019 11:30
10. lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal. student d incorrect
Answers: 2
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applie...
Social Studies, 21.01.2021 03:00
Spanish, 21.01.2021 03:00
Arts, 21.01.2021 03:00
Physics, 21.01.2021 03:00
Mathematics, 21.01.2021 03:00
Mathematics, 21.01.2021 03:00
Mathematics, 21.01.2021 03:00
Mathematics, 21.01.2021 03:00
Mathematics, 21.01.2021 03:00
Mathematics, 21.01.2021 03:00