Under a periodic inventory system, if inventory at the start of the period is $15 000, purchases

Fantastic news! We've Found the answer you've been seeking!

Question:

Under a periodic inventory system, if inventory at the start of the period is $15 000, purchases for the period are $73 000 and inventory at the end of the period, as per a physical stock take is $20 000, what is the estimated cost of sales?

Related Book For answer-question

Management and Cost Accounting

ISBN: 978-1408093887

8th edition

Authors: Colin Drury

See More Books

Posted Date: Jun 12, 2023 05:50 AM

See More Questions

python In which situation is a Python dictionary sorted? A. Dictionaries are always sorted. B. Dictionaries are never sorted. C. Only after you've called the sort() function. D. They are sorted by...
Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...
At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $3000. Corresponding entries for 2003 are $1600, $2000, and $2800. Asset values are below....
You find a certain stock that had returns of 18 percent, 23 percent, 16 percent, and 9 percent for four of the last five years. If the average return of the stock over this period was 10.3 percent,...
A baseball team plays in a stadium that holds 55,000 spectators. With ticket prices at $10, the average attendance had been 27,000. When ticket prices were lowered to $8, the average attendance rose...
The difference in potential between the accelerating plates in the electron gun of a TV picture tube is about 25 000 V. If the distance between these plates is 1.50 cm, what is the magnitude of the...
Why paralegals must be familiar with the rules of evidence?
Figure 5.4 shows that CBSs five-year borrowing rate is 1.3% and JPMorgan Chases is 2.6%. Which would you prefer? $500 from CBS paid today or a promise that the firm will pay you $550 in five years?...
Waterways Corporation is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in...
An engineer has performed an experiment to study the effect of four factors on the surface roughness of a machined part. The factors (and their levels) are A = tool angle (12, 15), B = cutting fluid...
After Hurricane Rita hit Lake Charles in southwest Louisiana, many businesses wondered if they would ever be the same. Mass destruction was everywhere. Lake Charles, known for its large, beautiful...
1) An object falls past a window on the fifth floor of a building, when it reaches the bottom of the window it has a speed of 5.45m/s. If the window is 1.5m tall how long does it take for the object...
Assessment objective: To provide evidence that you have the essential knowledge required for the following performance criteria and related knowledge evidence. 2.1 Implement practices that empower...
Cache memories are usually implemented in a static RAM technology. Main memories are usually dynamic RAM. Why does it still make sense to have multiple cache levels when they are implemented in the...
The financial statements are given for the Marie group for the year ended 31 December 2023 as below: Statement of Comprehensive Income Marie Bhd (RM'000) Donny Bhd (RM'000) Setia Bhd (RM'000) Revenue...
Imagine you have been asked to write an article for an academic journal on the complexities of schizophrenia spectrum disorders. (Don't read too much into this, it's just a paper) word article on the...
Using key risk indicators (KRIs) is crucial to operational risk management. Briefly distinguish between a key performance indicator and a key risk indicator. Using the information in the case study,...
When you weigh yourself on good old terra firma (solid ground), your weight is 142 lb. In an elevator your apparent weight is 121 lb. What are the direction and magnitude of the elevator's...
The following information relates to three possible capital expenditure projects. Because of capital rationing only one project can be accepted. The company estimates its cost of capital is 18 per...
Eckard plc is a large, all-equity financed, divisionalized textile company whose shares are listed on the London Stock Exchange. It has a current cost of capital of 15 per cent. The annual...
A company is considering the possibility of purchasing from a supplier a component it now makes. The supplier will provide the components in the necessary quantities at a unit price of 9....
What is the general reporting format on financial statements prepared in accordance with a comprehensive basis of accounting other than generally accepted accounting principles?
What is negative assurance within the context of an auditor's report? How does it differ from positive assurance?
What body establishes standards for a. All audits and for reviews of interim financial information and preparation of unaudited financial statements of public companies? b. Reviews and compilations...

Under a periodic inventory system, if inventory at the start of the period is $15 000, purchases

Question:

Expert Answer:

To calculate the estimated cost of sales under a periodic i... View the full answer

Management and Cost Accounting

Students also viewed these accounting questions