Question: 4 Attached is information from inventory accounting: Quantity Unit price Stock on January 1st 10,000 9.00 Purchase of goods on June 18 9,000 10,20 Purchase

4 Attached is information from inventory accounting: Quantity Unit price Stock on January 1st 10,000 9.00 Purchase of goods on June 18 9,000 10,20 Purchase of goods on November 8 5,000 11.00 According to the count on December 31 , there are 5,000 pcs. available in stock. What are the values of the inventory according to FIFO method? Select one alternative: 55,000 ISK 45,000 ISK 0 ISK 51,000 ISK

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Identify accounts with material fluctuations. A material fluctuation is defined as an account that has increased or decreased by more than 5% AND $50,000. Using the available to you in the packet...

1.Alpha Company prepares quarterly adjusting entries. On November 1, 2017, Alpha Company purchased equipment with a sticker price of $8,515 and signed a note due in 9 months for $10,000 that included...

Question1 Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used....

Alpha Dog formed a corporation on January 2, 2017 to provide construction services in the town of Elven, Rivendell, ME. The following is the December 31 the Unadjusted trial balance. Alpha Dog...

Question 1 (9 points) Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross...

Homework Help for Principles of Accounting Week 4. Explanations and answers are really helpful. Thanks. Homework Quiz #4 GJ - 1 Question 1 (9 points) Alpha Company used the periodic inventory system...

Question 1 Given below are account balances for Charlie Company: Gross sales, $100,000 Sales returns and allowances, $6,000 Selling expenses, $12,000 Cost of goods sold, $54,000 Interest expense,...

Weygandt, Accounting Principles, 13e Practice Assignment Gradebook ORION Downloadable eTextbook Assignment FULL SOEPEN RCES CALCULATOR Problem 605A a1-a3,b (Video) You are provided with the following...

need help adap with RNF in new balance sheet D N o June 30, 2021 125,000.00 78,400.00 46,600.00 15.000.00 31.600.00 2,000.00 29,600.00 5,920.00 23,680.00 G H 3 Pro Formu Income Statement 4 5 Sales...

INTRODUCTION In the assignment students are to utilise the MYOB Computer Accounting program to process transactions for two Shops, which are considered by management to be profit centres (management...

A national survey of companies included a question that asked whether the company had at least one bilingual telephone operator. The sample results of 90 companies follow (Y denotes that the company...

Give two limitations of the physical-measure method of joint-cost allocation.

49. A data set has a first quartile of 42 and a third quartile of 50. Compute the lower and upper limits for the corresponding boxplot. Should a data value of 65 be considered an outlier?

assume x and y are functions of t. evaluate dy/dt for 3xy - 2x + 4y^3 = 64, with the conditions dx/dt = -16, x = 4, y = -2

1 Do the actions of HP in refocusing the workforce, cost- cutting and centralised decision- making represent a contradiction of the HP way or are they compatible with the espoused approach? Hewlett...

=+Part 3 Could this campaign be used for an ambient message? What type and where? For example, could you create lawn signs for parks?

3 Can the HP way work for other companies in the context of the current business environment? Hewlett Packard (HP) is the worlds leader in sales of personal computers, printers and computer servers,...