Question: The information below reflects all the inventory transactions for one month. May 01 - Balance 120 units @ $14 each May 11 - Purchased 240

The information below reflects all the inventory transactions for one month. May 01 - Balance 120 units @ $14 each May 11 - Purchased 240 units @ $15 each May 17 - Sold 180 units for $30 each May 23 - Purchased 120 units @ $16 each May 30 - Sold 235 units for $30 each The value of the inventory at the end of the month is ?

please answer in 5 min no need for breakdown.

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!

Waterways Corporation is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in...

The information below reflects all the inventory transactions for one month. May 01 - Balance 120 units @ \$14 each May 11 - Purchased 240 units @ \$15 each May 17 - Sold 180 units for $30 each May...

The information below reflects all the inventory transactions for one month. Jan. 01 - Balance 70 units @ $14 each Jan. 09 - Purchased 140 units @ $16 each Jan. 18 - Sold 105 units for $28 each Jan....

this is the question and all the information i got Question 5 (2 points) The information below reflects all the inventory transactions for one month. Feb. 01 - Balance 210 units @ $8 each Feb. 08 -...

i think i need to use FIFO. help! how would i solve this? correct answer is 1790 Question 5 The information below reflects all the inventory transactions for one month. April 01 - Balance 160 units @...

we are supposed to have a partial income statement using the average cost method. the correct answer is 1790 apparently. can someone please show me a way to get this answer??? my friend needs this...

pls answer asappp The information below reflects all the inventory transactions for one month. June 01 - Balance 220 units @ $10 each June 11 - Purchased 440 units @ $9 each June 14 - Sold 330 units...

Question 6 (2 points) At the end of the year, Heath Company's accounting records showed that they had 60 items in stock at a FIFO cost of $12 each. These normally sell for $30 each. However, the...

how do i answer Question 1 (1 point) ~/ Saved In the following situation, who owns the inventory while it is in transit? You sell inventory with shipping terms FOB destination. Inventory cost $2,670....

The information below reflects all the inventory transactions for one month. Oct. 01 - Balance 50 units @ $9 each Oct. 06 - Purchased 25 units @ $11 each Oct. 14 - Sold 65 units for $18 each Oct. 22...

The information below reflects all the inventory transactions for one month. June 01 - Balance 220 units @ $10 each June 11 - Purchased 440 units @ $9 each June 14 - Sold 330 units for $20 each June...

Determine the magnitude and direction ? of F1 so that the resultant force is directed vertically upward and has a magnitude of 800 N. 600 N 400 N 30

The following data represents the distribution of the ages of a sample of 40 executives who work for a large drug manufacturer. Ages Number of Executives 35 39 6 40 44 12 45 49 10 50 54 8 55 59...

True or False? Before the use of mobile collection and payment methods were ubiquitous, small businesses often had to trust their customer's word on when payment was being mailed. a . True b . False

The marginal distribution of X is U(0,1). The conditional distribution of Y , given that X = x is U(0,e x ). (a) Determine the conditional p.d.f. of Y given that X = x, f(y|x); (b) Find the joint...

1. Evaluate the following integral. Show all of your work. |Vi lnz dr 2. Find the partial fraction decomposition of You do not need to 12 + 5t 6 perform an integration.

The average amount parents and children spent per child on back-to-school clothes in Autumn 2010 was $527. Assume the standard deviation is $160 and that the amount spent is normally distributed....

Instead of saying that Cary moves 3 units left and 2 units up, you can say that Carys position is displaced by the vector [3, 2]. Identify the following displacement vectors: (a) Stacey starts at (2,...

Provide complete information on the dataset (heart disease dataset). explained in a structured and complete. please don't only copy paste from the website. but give more explanation that make it...

Completing this targeted assessment supports meeting the following course learning outcomes: Critically assess the alignment of organization culture, structure, job design, and work processes with...

What are the timescales for your project that are required by: a) your study centre; b) your organisation? What are the implications of this for the process of doing your project?

What are the status or political issues within your organisation that may affect the process of undertaking your project? How might you be able to manage these effectively?

What access issues might there be in your chosen organisation? What are the likely timescales for obtaining permission?