How is cost of goods sold determined?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Cost of goods sold is the cost of the outflow from inventory to customers It rests on the ...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Question Posted:
Students also viewed these Managerial Accounting questions
-
How do the perpetual and periodic inventory accounting systems differ from each other?
-
Multiple-Choice Questions 1. Which method results in a more realistic amount for income because it matches the most current costs against revenue? a. FIFO b. Average cost c. Specific identification...
-
Refer to your answers for Filimonov Inc. in Cornerstone Exercises 6-22 through 6-24. Required: 1. In a period of rising prices, which inventory costing method produces the highest amount for ending...
-
Hanley asks his assistant to collect details on those costs included in the $21,000 indirect-cost pool that can be traced to each individual job. After analysis, Wigan is able to reclassify $14,000...
-
Gill Thomas is in the 35 percent tax bracket. Her long-term capital gains tax rate is 15 percent. She makes $16,200 on a stock trade. Compute her tax obligation based on the following holding...
-
Show that the estimating equations in (11.35) are unbiased. Wn n n (B) = Gi (xi) AiSi = Gi (xi) Ai (yi - h) = 0, i=1 i=1 (11.35)
-
Describe normal flow, sub-flow, and alternate flow. How do they differ?
-
On January 31, 2014, Trapp Logistics, Inc., issued five-year, 3.5% bonds payable with a face value of $6,000,000. The bonds were issued at 96 and pay interest on January 31 and July 31. Trapp...
-
Longstreet Inc. has fixed operating costs of $690,000, variable costs of $3.10 per unit produced, and its product sells for $4.30 per unit. What is the company's break-even point, i.e., at what unit...
-
A company has the following profile. Solve/respond to the the questions below. Please show your calculations for partial credit. Net Income - $375,000 Bank Debt - $1,000,000 @ 6% Equity - $3,000,000...
-
What are components of cost of goods available for sale and cost of goods sold?
-
Why are perpetual inventory systems more expensive to operate than periodic inventory systems? What conditions justify the additional cost of a perpetual inventory system?
-
Consider the ideal Rankine cycle and operating conditions specified in Problem 9.1. River water is to be used as the cooling fluid in the steam condenser. The river water is available at 295 K, and...
-
Legal challenges of taxing pensions and annuities in IR4.0 era Overview: Discuss the relevant section from Income Tax Act 1967 (in respect of the topic) and overview of IR4.0. Discussion the legal...
-
Your objective is to write an properly formatted, error-free business document.You may choose your own subject for the communication, keeping in mind to use the proper approach for the intended...
-
A well-formatted, error-free business document is your goal.For the communication, choose your own subject, keeping in mind the intended audience and the appropriate approach. The following types of...
-
Financial institutions, such as the Banking systems...Create a report that focuses on the data used to support the operation of your organization in your case study and answer the following...
-
Earn up to 50 pts per FULL 2 page typewritten paper by responding to the question: "What happened in the news within the last 30 days where business law is impacted, and discuss the legal...
-
In Exercises 714, simplify each rational expression. Find all numbers that must be excluded from the domain of the simplified rational expression. y2 + 7y - 18 y2 - 3 + 2
-
Teasdale Inc. manufactures and sells commercial and residential security equipment. The comparative unclassified balance sheets for December 31, 2015 and 2014 are provided below. Selected missing...
-
Multiple-Choice Questions 1. Payroll taxes typically include all of the following except: a. Social Security tax b. Federal excise tax c. Medicare tax d. Federal income tax 2. When a credit is made...
-
On June 30, Carmean Inc. borrows $100,000 from 1st National Bank with a 10-month, 6 percent note. Required: What journal entry is made on June 30?
-
Rogers Machinery Company borrowed $240,000 on June 1, with a six-month, 8.5 percent, interest-bearing note. Required: 1. Record the borrowing transaction. 2. Record the repayment transaction.
-
Search and locate a current international issue (an issue that affects more than one culture). 1. Describe the issue 2. Define and discuss the two or more cultures involved in the issue 3. Explain...
-
How is ethics defined in research and why is it important? Discuss two different ways in which ethics can be compromised when conducting, using, and reporting data. Describe strategies that can be...
-
I fall into the generation mellineals . What are some characteristics of this generation as far as their work ethics go. Are there characteristics of this generatrion that can affect the way they...
Study smarter with the SolutionInn App