Question: A company using the FIFO method had beginning work in process inventory of 10,000 units and completed 75,000 units. They also had 5,000 units

A company using the FIFO method had beginning work in process inventory of 10,000 units and completed 75,000 units. They also had 5,000 units in ending work in process inventory. The number of units started and completed equals

Step by Step Solution

★★★★★

3.39 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Calculafion 10 units Stautkd I Completed Inventory ... View full answer

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!

Jack Manufacturing Company had beginning work in process inventory of $8,000. During the period, Jack transferred $34,000 of raw materials to work in process. Labor costs amounted to $41,000 and...

Vaughn Manufacturing has beginning work in process inventory of $158000 and total manufacturing costs of $377000. If cost of goods manufactured is $380000, what is the cost of the ending work in...

In Moyer Company, the Cutting Department had beginning work in process of 6,000 units, transferred out 14,000 units, and had an ending work in process of 3,000 units. How many units were started by...

Question 1(0.2 points) The Standard Industrial Classification (SIC) codes are four-digit numbers in which the last two digits describe the type of business or industry in which the firm is engaged....

When developing forecasts, analysts should most likely : A . develop possibilities relying exclusively on the results of fi nancial analysis. B . use the results of fi nancial analysis, analysis of...

Cullumber Company has the following production data for March 2 0 2 2 : no beginning work in process, units started and completed 3 8 , 4 0 0 , and ending work in process 6 , 4 0 0 units that are 1 0...

Read the following memorandum and complete the assigned task. Instructions 1. What is the new value of the ending inventory? 2. Assume that all 36 dolls were sold for $21.95. What is the gross profit...

Compared to using the weighted average cost method to account for inventory, during a period in which prices are generally rising, the current ratio of a company using the FIFO method would most...

During periods of rising inventory unit costs, a company using the FIFO method rather than the LIFO method will report a lower: A . current ratio. B . inventory turnover. C . gross profi t margin.

6 During periods of rising inventory unit costs, a company using the FIFO method rather than the LIFO method will report a lower: A current ratio. B inventory turnover. C gross profit margin.

need help with a set: given the u = {1,2,3,4,5,6,7,8,9,10}; A = {3,4,5,6,7}; B = {1,5,7,9; C = {3,6,9}; D = {2,4,6,8} a. A c B c b. ( A C ) ( B D ) c. ( A D ) ( B D ) d ( A C ) c ( B D ) c e. ( D C )...

1 In MS SQL we can calculate the email address for our vendor contacts IF the vendor has their email domain value provided in the VendorUpdates_20230107 table (not all of them do!). Email addresses...

Which brand, if any, emerged as the favorite? How did you determine this? 2 . Is the favorite generally a popular brand, or were you surprised by the winner? 3 . If a consumer had a favorite before...

An employer in Seattle, Washington has started a new "healthy lifestyle" initiative for employees and indpendent contractors. The desired achievement for each group is a mean score of 25 on a...

Bintang Jaya Bhd operates two (2) production departments, Machining, and Assembly and two (2) service departments, Canteen and Store. Machining department is highly dependent on the use of machines,...

Henrik is stopped behind another vehicle at an intersection. The light turns green, and he waits 3-4 seconds before accelerating. Why should he do this?It puts adequate following distance between...

Pregunta 2 de 15. Antes de seleccionar el botn Abrir o Comenzar devolucin, cul de las siguientes afirmaciones con respecto a comenzar una nueva devolucin en BlockWorks es INCORRECTA? Se inicia una...

C- Consider the following scenario:- A supermarket needs to develop the following software to encourage regular customers. For this, the customer needs to supply his/her residence address, telephone...

What is comprehensive income? Its composition varies from company to company but may include which investment-related items that are not included in net income?

One of your friends is a financial analyst for a major stock brokerage firm. Recently she indicated to you that she had read an article in a weekly business magazine that alluded to the political...

Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions. The following disclosure note appeared in the company's 2011 annual...

The city of Tucson, Arizona, employs people to assess the value of homes for the purpose of establishing real estate tax. The city manager sends each assessor to the same five homes and then compares...

Jacob Lee is a frequent traveler between Los Angeles and San Francisco. For the past month, he wrote down the flight times on three different airlines. The results are: a. Use the .05 significance...

Shanks Inc., a nationwide advertising firm, wants to know whether the size of an advertisement and the color of the advertisement make a difference in the response of magazine readers. A random...