Davidson Electronics has the following: If Davidson has 7,000 units on hand at December 31, the cost

Question:

Davidson Electronics has the following:

image text in transcribed

If Davidson has 7,000 units on hand at December 31, the cost of ending inventory under the average-cost method is:

(a) $84,000.

(c) $56,000.

(b) $70,000.

(d) $75,250.

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

Step by Step Answer:

Related Book For book-img-for-question

Financial And Managerial Accounting

ISBN: 9781118004234

1st Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

See More Books

Question Posted: Feb 11, 2024 03:00 AM

See More Questions

1) The Spangle Company uses the process cost system and average costing. The following prediction data are for the month of July: Production Costs Work in process, beginning of month Materials $2,500...
The following questions are used in the Kaplan CPA Review Course to study inventory while preparing for the CPA examination. Determine the response that best completes the statements or questions. 1....
The Loyd Company had 150 units of product Omega on hand at December 1, Year 1 costing $ 400 each. Purchases of product Omega during December were as follows: Sales during December were 500 units on...
On January 1, 2012, Wilmes Floral supplies borrowed $2,413 from Bower Financial Services. Wilmes Floral Supplies gave Bower a $2,500 note with a maturity date of December 31, 2013. The note specified...
If the firm's lowest average cost is $52 and the corresponding average variable cost is $26, what does it pay a perfectly competitive firm to do if The market price is $51? The price is $36? The...
Prime costs consist of a. direct materials and manufacturing overhead. b. direct labor and manufacturing overhead. c. direct materials and direct labor. d. direct materials, direct labor, and...
Jose Garcia plans to write an email message to his father asking for a loan. He plans to use the loan to start a company to sell an environmentally friendly line of cleaning supplies that are...
Danson Company is a chemical manufacturer that supplies various products to industrial users. The company plans to introduce a new chemical solution, called Nysap, for which it needs to develop a...
using deal and grove formula, Create a matlab code to show the General relationship for thermal oxidation of silicon using dry oxidation and wet oxidation. The solid line represents the general...
In periods of rising prices, LIFO will produce: (a) higher net income than FIFO. (b) the same net income as FIFO. (c) lower net income than FIFO. (d) higher net income than average-cost.
Using the data in Question 4 above, the cost of the ending inventory under LIFO is: Data from Question 4 Tinker Bell Company has the following: If Tinker Bell has 9,000 units on hand at December 31,...
If Philip's utility function is U = 2q10.5 + q2, what are his demand functions for the two goods?
Expound on how FAS 8 addresses translation issues and alteration of exchange rates in the income statement, balance sheet and Stockholders" equity statements?
elect from the option list provided the type of report that best fits each example below. Each choice may be used once, more than once, or not at all. Example Report 1. Financial statements. Periodic...
Use A- to decode the cryptogram. 2 2 7 -1-4-7 13 19 10 -1 -33 -77 3 -2 -14 4 1 -9 -5 -25 -47 4 1 -9 A = 1 3 9 r
b. Prepare the Income Statement for the year ended 30 June 2020 using the following template: Maloney Co Income Statement for the year ended 30 June 2020 Sales Less Cost of Goods Sold Gross Profit...
You are getting ready to start a new project that will incur some cleanup and shutdown costs when it is completed. The project costs $ 5.35 million up front and is expected to generate $ 1.19 million...
Is misappropriation a violation of 10(b)?
In the busy port of Chennai, India, the number of containers loaded onto ships during a 15-week period is as follows: 1. Develop a linear trend equation to forecast container loadings. 2. Using the...
On January 2, THT company acquired 40% of the outstanding stock of First Alert Company for $155,000. For the year ending December 31, first Alert Company earned income of $42,000 and paid dividends...
On January 2, Bassett Company acquired 30% of the outstanding stock of Nassim Company for $400,000. For the year ending December 31, Nassim Company earned income of $110,000 and paid dividends of...
On January 1, 2012, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2012, the cost of the trading securities portfolio was $ 105,800 and the fair value was $101,600....
Tristan's House of Furniture: Decision Variables Cost Wood Required to Assemble Revenue X1 = # of Tables $100 20 feet $200 X2 = # of Chairs $50 10 feet $100 Tristan's decides that they must produce...
Raul Cruz owns a home worth $250,000, a car worth $15,000, various investments worth $600,000 and other personal assets worth $25,000. What are these things to Raul Cruz? Multiple Choice Trust Will...
1. Define scarcity and discuss the examples and problems with scarcity. 2. Discuss the discipline of economics. 3. Discuss the three major tasks of economics Complete sentences Reference Book:...

Davidson Electronics has the following: If Davidson has 7,000 units on hand at December 31, the cost

Question:

Inventory, Jan. 1 Purchase, April 2 Purchase, Aug. 28 Units 5,000 15,000 20,000 Unit Cost $8 $10 $12

Step by Step Answer:

Financial And Managerial Accounting

Students also viewed these Business questions