Question: What was the closing inventory for the AVCO method? Compute the cost of sales and closing inventory for Ganada Coose ltd using the below information:

What was the closing inventory for the AVCO method?

Compute the cost of sales and closing inventory for Ganada Coose ltd using the below information:

Opening stock with Cost at 10,500 (220 units) and NRV of 11750

Jan purchases 1000 units at 45 per unit

March purchases 950 units totalling 41,250

May sales 930

August purchase 400 units at 41 per unit

November sales 1470 units

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!

Q:

What was the closing inventory for the AVCO method? Compute the cost of sales and closing inventory for Ganada Coose ltd using the below information: Opening stock with Cost at 10,500 (220 units) and...

Q:

A business purchased merchandise to be resold at increasing costs during the year 2019. The purchases were made at the following costs. January 1, 2019 (carried over from 2018) 50 units at $9 January...

Q:

what information do you need? this is the whole question. Statement of Comprehensive Income B Ltd ($) C Ltd ($) Statement of Fiancial Position B Ltd ($) C Ltd ($) Income: Equity and Liabilites:...

Q:

2 Answer the questions from the information provided. 2.1 2.1.1 Calculate the value of closing inventory as at 31 August 2021 and cost of sales for August 2021 using the following methods of...

Q:

2 Answer the questions from the information provided. 2.1 Calculate the value of closing inventory as at 31 August 2021 and cost of sales for August 2021 using the following methods of inventory...

Q:

Answer the questions from the information provided. Calculate the value of closing inventory as at 31 August 2021 and cost of sales for August 2021 using the following methods of inventory valuation:...

Q:

Condensed Ltd uses a perpetual inventory system. Ignore GST. The following information relates to the inventory of Condensed Ltd during May: May 1 Beginning inventory 100 units @ $9 3 Purchased 110...

Q:

1 3 12 Condensed Ltd uses a perpetual inventory system. Ignore GST. The following information relates to the inventory of Condensed Ltd during May- Maye Beginning inventory 100 units @ $92 Purchased...

Q:

Compute the cost of sales and closing inventory for Ganada Coose ltd using the below information: Opening stock with Cost at 10,500 (220 units) and NRV of 11750 Jan purchases 1000 units at 45 per...

Q:

Compute the cost of sales and closing inventory for Ganada Coose ltd using the below information: Opening stock with Cost at 10,500 (220 units) and NRV of 11750 Jan purchases 1000 units at 45 per...

Q:

Calculate the final temperature of a sample of carbon dioxide of mass 16.0 g that is expanded reversibly and adiabatically from 500 dm3 at 298.15 K to 2.00 dm3.

Q:

What is the present value of $10,000 per year in perpetuity at an annual interest rate of 10 percent if the perpetuity starts in year=4? $10,000 $75,131.48 $1,000 $68,301.35 $82,402.36

Q:

Identify two or three concepts one can learned in this course and how one can apply them to one's life for personal benefit. (class financial 210)

Q:

Explain five reasons why business is driving knowledge management..

Q:

2.3 Define human resource ethics.

Q:

1 Which processes of learning/ development have you experienced? 2 What were the most effective processes for you?

Q:

9 How can training be evaluated?