Find out the following show computations and round to the, Ask an Expert

Accounting

Q1) OJU Company utilizes periodic inventory system and applied FIFO inventory costing. At the end of annual accounting period, December 31, 20D, accounting records for the best selling items in inventory showed:

Transactions	Units	Unit Cost
Beginning inventory, Jan. 1, 20D	200	$1
1.Purchase,Feb.1	400	12
2.Sale, March15 (sold at $20 each)	(300)
3.Purchase May 15	350	14
4.Sale, July 31(sold at $25 each)	(500)

Find out the following (show computations and round to the nearest dollar):

Goods available for sale:$
Ending inventory:$
Cost of goods sold:$

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M920443

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question assume you have just been hired as the chief human

Question: Assume you have just been hired as the Chief Human Resources Officer (CHRO) for any Fortune 500 company of your choice (must be a different company than was employed for your Team Application, Reflection, and S ...

Question - topcap co is evaluating the purchase of another

Question - TopCap Co. is evaluating the purchase of another sewing machine that will be used to manufacture sport caps. The invoice price of the machine is $152,000. In addition, delivery and installation costs will tota ...

Have you ever been involved in the budget process at your

Have you ever been involved in the budget process at your organization? If so, describe your role and responsibilities. Do you think people at your level in the organization should provide budget inputs, and why or why n ...

Question - on december 31 2016 green company finished

Question - On December 31, 2016, Green Company finished consultation services and accepted in exchange a promissory note with a face value of $770,000, a due date of December 31, 2019, and a stated rate of 5%, with inter ...

Accounting question - financial data for joel de paris inc

Accounting Question - Financial data for Joel de Paris, Inc, for last year follows Joel de Paris, Inc Balance Sheet Beginning Balance Ending Balance Assets Cash $125,000 $133,000 Accounts receivable 348,000 483,000 Inv ...

Question - on june 15 richwood township decided to withdraw

Question - On June 15, Richwood Township decided to withdraw $3,035,000 for a capital projects payment. At the date of the withdrawal, the fair value of the Treasury notes had increased by $32,500. Assume that the trust ...

Question - bob smith borrowed 200000 on january 1 2015 the

Question - Bob Smith borrowed $200,000 on January 1, 2015. The interest rate of 8% is compounded semiannually to be repaid January 1, 2025. To repay this Bob wants to start making five equal annual deposits into fund tha ...

Question - what is the present value of a 100000 twenty

Question - What is the present value of a $100,000, twenty year, bonds payable that pays 4% interest semi-annually and the current market interest rate is 5%?

Question -fill in all of the missing amounts show

Question - Fill in all of the missing amounts. Show computations. Recording Bad Debts and Interpreting Disclosure of Allowance for Doubtful Accounts Jayco Inc. started its operations in 2016. Its sales, all on account, t ...

Question - property location fullerton payments per year 12

Question - Property Location Fullerton Payments per year 12 Property Cost $750,000 Total Payments 360 Down Payment $75,000 Interest (APR) 4.00% Loan Amount $675,000 Payment (per month) Period (Years) 30. What is the exce ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert