January 1, a company had: 800 units of inventory with an $8 cost per unit....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
January 1, a company had: • 800 units of inventory with an $8 cost per unit. [$6,400 total cost] Purchased during the month: January 9: • January 15: 1,200 units purchased at $10 cost per unit. [$12,000 total cost] 950 units purchased at $11.50 cost per unit. [$10,925 total cost] 700 units purchased at $12.35 cost per unit. [$8,645 total cost) O January 23: 9 January 27: 1,500 units purchased at $13.65 cost per unit ($20,475 total cost] Sold during the month: January 13: 650 units sold • January 20: 1,000 units sold January 29: 1.600 units sold Determine the total cost of ending inventory (Jan 31) using moving weighted-average costing and a perpetual inventory system. as applicable, rounded to two decimal places for calculations. Enter the final answer rounded to the nearest whole dollar. Do ne or signs in your answer; enter number only.) January 1, a company had: • 800 units of inventory with an $8 cost per unit. [$6,400 total cost] Purchased during the month: January 9: • January 15: 1,200 units purchased at $10 cost per unit. [$12,000 total cost] 950 units purchased at $11.50 cost per unit. [$10,925 total cost] 700 units purchased at $12.35 cost per unit. [$8,645 total cost) O January 23: 9 January 27: 1,500 units purchased at $13.65 cost per unit ($20,475 total cost] Sold during the month: January 13: 650 units sold • January 20: 1,000 units sold January 29: 1.600 units sold Determine the total cost of ending inventory (Jan 31) using moving weighted-average costing and a perpetual inventory system. as applicable, rounded to two decimal places for calculations. Enter the final answer rounded to the nearest whole dollar. Do ne or signs in your answer; enter number only.)
Expert Answer:
Answer rating: 100% (QA)
Solution Total cost of ending inventory 22971 Calculations Wei... View the full answer
Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
Posted Date:
Students also viewed these accounting questions
-
The following table represents admission data of two programs for the given years: 2009/10 2010/11 2011/12 99 136 112 307 309 297 Computer Systems Technician Computer Systems Technology a) What...
-
Belden started the year with 1,000 units of inventory with a unit cost of $5. During the year, it bought 3,000 units at a cost of $6 per unit. A year-end count revealed 500 units on hand. Compute...
-
Delacroix Co. had 800 units of inventory at the beginning of March 2010. Other information about that beginning Work in Process Inventory is as follows: Direct labor costs were extremely high during...
-
All organizations incur non value added costs. Eliminating or reducing non value added costs is the responsibility of managers. Using the Activity Based Management approach and focusing on the...
-
Explain why some outstanding orders of the General Fund require assigned fund balance to be reported and others do not.
-
For each of the following arguments, it is possible to provide a formal proof of validity by validly inferring just three statements. Writing these out, carefully and accurately, will strengthen your...
-
The chemical potential of a pure substance is equal to the (a) Specific Gibbs' free energy (b) Molar entropy (c) The Gibbs' free energy (d) Molar Gibbs' free energy.
-
Sam Farr is the president, founder, and majority owner of Galena Medical Corporation, an emerging medical technology products company. Galena is in dire need of additional capital to keep operating...
-
b) Given the initial memory allocation as shown below. Allocate the memory space to the processes P1 (6KB), P2 (7KB) and P3 (18KB) that arrives in the given order. OS 13 K 25K 7K 20K 21K 15K 22K Hole...
-
Referring to Problem 18, suppose the airline wants to determine how many checkpoints to operate to minimize operating costs and delay costs over a 10-year period. Assume that the cost of delaying a...
-
You are required to read carefully the scenario and answer any FIVE (5) of the questions that follow. Do not answer only theoretically; utilise the given situation in your discussions, backed by...
-
Just-in-time systems, capacity planning, scheduling, and inventory management and control were rendered useless when the pandemic shut down everything. Historical forecasting and an efficient supply...
-
Question 2 South Beach University is conducting an online exam. There are 1,200 students taking this exam. Students are required to download the exam questions from the university's learning...
-
How can perspective of leadership style affect our leadership. Which leadership style such as Autocratic, Laissez-Faire, Transactional or Bureaucratic. Explain how democratic leadership style impacts...
-
1. Analyze the HealthCare.gov rollout process in terms of its political rationality and technical rationality from the case analysis "Managing the Rollout of Healthcare.gov" in Chapter 6 of Hill &...
-
What factors are impacting the hotel's performance compared to budget? Summaries Group Weekday Transient Weekday Total Hotel Weekday Rms ADR(G) Revenue(G) Rms ADR(G) Revenue(G) Rms ADR(G) Revenue(G)...
-
Acme Aviation Safety Consulting Services. From: E. Hillary Hello, My name is Edmund. I run the Tall Mountain Express charter services here at Lukla Airport. Before I invest time and money into a new...
-
For the next several days, take notes on your listening performance during at least a half-dozen situations in class, during social activities, and at work, if applicable. Referring to the traits of...
-
Tate Electronics manufactures computers and all required components. Its purchasing agent informed the company owner, Mervin Tate, that another the company had offered to supply keyboards for Tate...
-
What is management by exception? Why is a standard cost system useful when managers control by exception?
-
Schulz GmbH, a German company, set an 18 percent target rate of return for its U.S. division for 2010. For 2010, the U.S. division generated $39,000,000 of revenue on average assets of $25,000,000....
-
What are the basic forms of international business activity?
-
Explain the importance of understanding international business.
-
Does your college or university have any international programs? Does this make the institution an international business? Why or why not?
Study smarter with the SolutionInn App