Sampson inc had a beginning inventory of 10000 units on, Ask an Expert

Finance

Sampson, Inc. had a beginning inventory of 10,000 units on January 1, 2009. The costs associated were :

Material $15.00 per unit
Labor $5.00 per unit
Overhead $10.00 per unit

During 2009, Sampson produced 36,000 units with the following costs:

Material $16.00 per unit
Labor $6.00 per unit
Overhead $11.00 per unit

Sales for the year were 38,000 units at $40.00 each. Samspon uses LIFO accounting. What is the gross profit, and the value of ending inventory?

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9882155

Have any Question?Write your Review or question?

Related Questions in Basic Finance

1 what is the average collection period for the year for

1. What is the average collection period for the year for Company XYZ Sales - $1,500 (25% cash, 75% credit); Inventory - $750; Depreciation - $1,000; Plant & Equipment $2,000; Accounts Receivable - $250; Notes Payable - ...

Question - you purchase a machine for 100000 such machine

Question - You purchase a machine for $100,000. Such machine has a 3-year MACRS classification. If the machine is sold at the end of the second year for $45,000, what are the after-tax proceeds from the sale, assuming yo ...

Please explain how to find the answer using a financial

Please explain how to find the answer using a financial calculator! Purchase price equals 93,500. Six-year loan with no money down and no monthly payments during the first year. After the first year, payment of $1300 per ...

How to figure out the profit loss of a company what

How to figure out the profit loss of a company, what evidence would show that and what would be some solutions that can help a company detour from profit loss?

Question - boundaries a chain of retail stores sells books

Question - Boundaries, a chain of retail stores, sells books and music CDs. Condensed monthly income data are presented in the following table for November 20x4. Downtown Store Mall Store Total Sales $240,000 $360,000 $6 ...

How would you evaluate flash memorys performance and

How would you evaluate flash memory's performance and financial position?

Question based on the option chain belowconsider an

Question: Based on the option chain below: Consider an asymmetric butterfly constructed using the given put options with the low strike at 58, the peak at 60 and the high strike at 64, for one unit of the underlying asse ...

A life-cycle cost lcc analysis is being used to help

A life-cycle cost (LCC) analysis is being used to help determine whether the purchase of a high-performance heating ventilating and air conditioning (HVAC) system is cost-effective or not. This analysis would customarily ...

You have just purchased an apartment to finance the

You have just purchased an apartment. to finance the purchase, you have arranged for a 25-year mortgage loan for 50 percent of the 1,650,000 purchase price. The monthly payment on this loan will be 4,500. What is the eff ...

Suppose your firm is considering investing in a project

Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 10 percent, and that the maximum allowable payback and discounte ...

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 Basic Finance Expert