Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 HK$970 HK$ 10,670 Sept. 12...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 HK$970 HK$ 10,670 Sept. 12 Purchases 31 1,020 31,620 Sept. 19 Purchases 12 1,040 12,480 Sept. 26 Purchases 56 1,050 58,800 Totals 110 HK$113,570 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to O decimal places, e.g. 125.) FIFO The ending inventory at September 30 HK$ Cost of goods sold HK$ Average-Cost HK$ HK$ (b) For both FIFO and average-cost, calculate the sum of ending inventory and cost of goods sold. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to O decimal places, e.g. 125.) FIFO Average-Cost Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 HK$970 HK$ 10,670 Sept. 12 Purchases 31 1,020 31,620 Sept. 19 Purchases 12 1,040 12,480 Sept. 26 Purchases 56 1,050 58,800 Totals 110 HK$113,570 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to O decimal places, e.g. 125.) FIFO The ending inventory at September 30 HK$ Cost of goods sold HK$ Average-Cost HK$ HK$ (b) For both FIFO and average-cost, calculate the sum of ending inventory and cost of goods sold. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to O decimal places, e.g. 125.) FIFO Average-Cost
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Draw a plausible mechanism for each of the following transformations: (a) (b) [TSOH] MENH2 -H20
-
Hollander, Pronk, and Roelofsen (2010) described a conference call during which executives of Apple, Inc. presented the companys third quarter 2008 financial results. In response to a question about...
-
The article "Quantitative MRI and Electrophysiology of Preoperative Carpal Tunnel Syndrome in a Female Population" (Ergonomics, 1997: 642-649) reported that (2473.13, 1691.9) was a large-sample 95%...
-
McCall Company anticipates a cash balance LO4 of \($100,000\) on July 1, 2016. The following budgeted transactions for July 2016 present data related to anticipated cash receipts and cash...
-
Before preparing financial statements for the current year, the chief accountant for Reynolds Company discovered the following errors in the accounts. 1. The declaration and payment of $50,000 cash...
-
3 The following financial statements and additional information are reported. Sints At June 30 Assets Cash 03:07:37 Accounts receivable, net eBook Hint Print 0 References Inventory Prepaid expenses...
-
Mr. Ajay's trial balance is as follows. Trial Balance for the year ended 31st March, 2017 Amt Debit Balances To Opening Stock To Purchases To Wages To Investment To Carriage outwards To Printing and...
-
Four charged objects, A-D, are arranges on the corners of a rectangle with sides of length 3 cm and 6 cm, as shown in the figure. Objects A, C and D have charges of +8e. Determine the sign and...
-
We have the following information for Essilor Luxottica Introduction Income Statement Revenue ( ttm ) 1 . 0 6 B Revenue Per Share ( ttm ) 2 . 5 5 Quarterly Revenue Growth ( yoy ) - 3 . 6 0 %...
-
LC-5 A line of length L with constant linear charge density +(C/m) lies on the x axis. A point P lies on the perpendicular bisector of the line (the y axis). a) Show the details of the symmetry...
-
Four parallel plates are connected a vacuum as shown in Figure 6. An electron at rest in the hole of plate X is accelerated to the right. The electron passes through holes at W and Y with no...
-
Share examples from your own experiences where budgets caused employees to act in a manner that hurt the performance or profitability of your organization. For example, there is usually no incentive...
-
Charam and Baka each have earned income of over $200,000. During the year, they paid a nanny $27,000 to care for their three children. Divya, age 5, Elina, age 10 and disabled, and Hinda, age 12....
-
Create an appropriate display of the navel data collected in Exercise 25 of Section 3.1. Discuss any special properties of this distribution. Exercise 25 The navel ratio is defined to be a persons...
Study smarter with the SolutionInn App