Question: Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. Dats Beginning Inventory Purchases CROWD CO Units TOO

Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. Dats Beginning Inventory Purchases CROWD CO Units TOO S. SUnit 5.25 S Tota! 525,00 Jan 300 5.30 1.590,00 June 20 150 5.60 840,00 Sept. 15 200 5.80 1.160.00 Nov. 29 Goods Available for Sale 150 2 5.90 885.00 12 Ending Inventory 350 Cost of Goods Sold Required: The company is using periodic inventory method and FIFO. Calculate the following indicated as"? in the above table: a) Goods available for sale in number of units b) Value (S amount) of goods available for sale Ending inventory in number of units Value (5 amount) of ending inventory Cost of good sold in number of units ) Value ( amount) of COGS (answers without detail computation will not be considered) Question 4. (25 points) RT'N purchases a new machine that costs $ 48.000. The machine has a residual value of $ 3.000 and estimate useful life of 5 years. Required: Using declining-balance method, calculate the depreciation for the next five years

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!

Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date CROWD Co. Units 100 S S/Unit 5,25 $/Total 525,00 Beginning Inventory Purchases: Jan. 3...

Question 1) Siogo Shoes has the following transactions in February: Feb 5 Siogo Shoes purchased 100 pairs of shoes at the price of $50 each pair on account, terms 5/10, n/30. Feb 8 Sole Mates...

Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date Beginning Inventory Purchases: CROWD Co. Units 100 S $/Unit 5,25 $/Total 525,00 Jan. 3...

Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date Beginning Inventory Purchases CROWD Co Units 100 $ S/Unit 525 S/Total 525.00 3 Jan 3 300...

Question 3) (30 points) At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date Beginning Inventory Purchases: CROWD Co. Units 100 S S/Unit 5,25 S/Total 525,00 Jan. 3...

Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. CROWD Co. Units Date S/Unit 5,25 S/Total 525,00 100 $ Beginning Inventory Purchases: Jan. 3...

Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date Beginning Inventory Purchases: CROWD Co Units 100 $ S/Unit 5.25 S/Total 525,00 Jan 3 300...

Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date Beginning Inventory Purchases: CROWD Co. Units 100 $ S/Unit 5,25 S/Total 525,00 Jan, 3...

please Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. CROWD Co. Units 100 $ S/Unit Date Beginning Inventory Purchases: $/Total 525,00 5,25...

Can you do it in a way that I understand Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. CROWD Co. Units Date Beginning Inventory Purchases:...

1. What is the test for evaluating whether a defendants actions constitute fair use under copyright law? Is that test found in the Copyright Act or in case law? 2. Why does the court state in the...

You are provided with the following transactions that took place during a recent fiscal year. Instructions Complete the table indicating whether each item (1) affects operating (O) activities,...

Whenever it is impossible to determine whether a change in principle or a change in estimate has occurred, the change should be considered a: change in accounting principle. counterbalancing error....

little mobility and a preference not to make changes for the sake of change;

friendliness and sincerity;

Short-term, long-term orientation: time scales of pay systems, particularly those based on achievement of performance objectives.