I don't feel confident about my answer. can you help explain which is the correct answer and WHY
Homework Answers
Answer is as follows:
Correct Option : to determine the balance of the inventory shown on the balance sheet.
The gross margin method is used to estimate ending inventory. It is also used to estimate the inventory which is lost due to theft, disaster or fire. This method is used when physical inventory is not feasible. It is used when the data relating to beginning inventory and purchases is not available.
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I don't feel confident about my answer. can you help
explain which is the correct answer...
Answer the following as True or False, then select the correct multiple-choice answer: _____ The periodic...
Answer the following as True or False, then select the correct multiple-choice answer: _____ The periodic inventory method requires an adjusting entry for a loss at the end of the period. _____ In periods of declining prices, periodic FIFO will have a lower net income than periodic LIFO. _____ The gross profit method of estimating inventory can be used as a substitute for a physical inventory count under the periodic inventory method. A. True, True, True B. False, False, False...
please help, I don't know if my answer is correct or not , if not which...
please help, I don't know if my answer is correct or not , if
not which one? thank you
The controller of Hendershot Corporation estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below. Wali Mirrors 16,500 1,650 Specialty Windows 1,600 1,500 Total expected units produced Total expected material moves Expected direct labor-hours per unit 9 The total materials handling cost for the year is expected...
I know you have a rule that you can only answer one question, but my time...
I know you have a rule that you can only answer one question,
but my time is running out and I still have a lot of questions to
solve. Please give me an accommodation. If you just answer one
question, please don't want to answer this question, please
don't.
1
2
3
number 3 is same question with number 1, just answer 1and 2
What's the FCFF of a company with total revenues of $700 million, operating profit margin of...
Connected Register Pearson... SouthWesternFed Ta.. Check my work mode : This shows what is correct or...
Connected Register Pearson... SouthWesternFed Ta.. Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It For the Year Ended December 31, 2018 $ 950 Cost of goods sold Gross margin Operating expenses Depreciation Loss on sale of land Total operating expenses Operating income Other Income (expense) Gain on sale of cash equivalents Interest expense Income before tax Income tax expense Net Income HAVE COWY Selected Accounts from Comparative Balance...
I know you have a rule that you can only answer one question, but my time...
I
know you have a rule that you can only answer one question, but my
time is running out and I still have a lot of questions to solve.
Please give me an accommodation. If you just answer one question,
please don't want to answer this question, please don't.
1
2
You are asked to value Gamecocks Inc. using the relative valuation method. Gamecocks Inc.'s earnings forecast for next year (EPS (next year) is $2.44. The valuation and earnings of...
Hello, Can you please help me with this problem and give an explanation for the correct...
Hello,
Can you please help me with this problem and give an explanation
for the correct answer? There are three tabs FIFO, LIFO and Average
Cost. Thank you
Aug.1 Inventory on hand-3,900 units; cost $7.20 each. 8 Purchased 19,500 units for $7.40 each. 14 Sold 15,600 units for $13.90 each. 18 Purchased 11,700 units for $7.50 each. 25 Sold 14,600 units for $12.90 each. 28 Purchased 5,900 units for $5.80 each. 31 Inventory on hand-10,800 units. Required: Using calculations based...
Help to answer these questions for my Intro to Accounting class 1 The inventory data for...
Help to answer these questions for my Intro to Accounting
class
1 The inventory data for an item for November are: Nov. I Inventory 20 units at $19 4 Sold 10 units 10 Purchased 30 units at $20 17 Sold 20 units 30 Purchased 10 units at $21 Using a perpetual system, what is the cost of the merchandise sold for November if the company we FIFO? a $610 b. $600 C. $590 d. $580 The following lots of a...
Check my work mode: This shows what is correct or incorrect for the work you have...
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Part 2 of 3 Required information Exercise 8-14 Inventory cost flow methods; perpetual system [LO8-1, 8-4] Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018: 1.53 points Aug.1 Inventory on hand–3,000 units; cost $7.10 each. Purchased 15,000 units for $6.50 each. 14 Sold 12,000 units...
Could you please answer questions in the order and style displayed on paper. The answers displayed...
Could you please answer questions in the order and
style displayed on paper. The answers displayed in the prior paper
were incorrect. Thanks.
Periodic Inventory by Three Methods The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 25 $1,200 $30,000 8 Purchase 1,240 93,000 11 Sale 2,000 80,000 30 Sale 2,000 60,000 May 8 Purchase 1,260 75,600 10 Sale...
It will be greatly appreciated if you can help to answer the following multiple choices. Thanks...
It will be greatly appreciated if you can help to answer the
following multiple choices. Thanks a lot.
1)
2)
3)
A company had inventory of 8 units at a cost of $20 each on April 1. On April 2, they purchased 8 units at $15 each each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold? On April 6 they chased 5 units at S Γ each. April 8, they sold 18 units...
please help, I don't know if my answer is correct or not , if
not which one? thank you
The controller of Hendershot Corporation estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below. Wali Mirrors 16,500 1,650 Specialty Windows 1,600 1,500 Total expected units produced Total expected material moves Expected direct labor-hours per unit 9 The total materials handling cost for the year is expected...
I know you have a rule that you can only answer one question,
but my time is running out and I still have a lot of questions to
solve. Please give me an accommodation. If you just answer one
question, please don't want to answer this question, please
don't.
1
2
3
number 3 is same question with number 1, just answer 1and 2
What's the FCFF of a company with total revenues of $700 million, operating profit margin of...
Connected Register Pearson... SouthWesternFed Ta.. Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It For the Year Ended December 31, 2018 $ 950 Cost of goods sold Gross margin Operating expenses Depreciation Loss on sale of land Total operating expenses Operating income Other Income (expense) Gain on sale of cash equivalents Interest expense Income before tax Income tax expense Net Income HAVE COWY Selected Accounts from Comparative Balance...
I
know you have a rule that you can only answer one question, but my
time is running out and I still have a lot of questions to solve.
Please give me an accommodation. If you just answer one question,
please don't want to answer this question, please don't.
1
2
You are asked to value Gamecocks Inc. using the relative valuation method. Gamecocks Inc.'s earnings forecast for next year (EPS (next year) is $2.44. The valuation and earnings of...
Hello,
Can you please help me with this problem and give an explanation
for the correct answer? There are three tabs FIFO, LIFO and Average
Cost. Thank you
Aug.1 Inventory on hand-3,900 units; cost $7.20 each. 8 Purchased 19,500 units for $7.40 each. 14 Sold 15,600 units for $13.90 each. 18 Purchased 11,700 units for $7.50 each. 25 Sold 14,600 units for $12.90 each. 28 Purchased 5,900 units for $5.80 each. 31 Inventory on hand-10,800 units. Required: Using calculations based...
Help to answer these questions for my Intro to Accounting
class
1 The inventory data for an item for November are: Nov. I Inventory 20 units at $19 4 Sold 10 units 10 Purchased 30 units at $20 17 Sold 20 units 30 Purchased 10 units at $21 Using a perpetual system, what is the cost of the merchandise sold for November if the company we FIFO? a $610 b. $600 C. $590 d. $580 The following lots of a...
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Part 2 of 3 Required information Exercise 8-14 Inventory cost flow methods; perpetual system [LO8-1, 8-4] Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018: 1.53 points Aug.1 Inventory on hand–3,000 units; cost $7.10 each. Purchased 15,000 units for $6.50 each. 14 Sold 12,000 units...
Could you please answer questions in the order and
style displayed on paper. The answers displayed in the prior paper
were incorrect. Thanks.
Periodic Inventory by Three Methods The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 25 $1,200 $30,000 8 Purchase 1,240 93,000 11 Sale 2,000 80,000 30 Sale 2,000 60,000 May 8 Purchase 1,260 75,600 10 Sale...
It will be greatly appreciated if you can help to answer the
following multiple choices. Thanks a lot.
1)
2)
3)
A company had inventory of 8 units at a cost of $20 each on April 1. On April 2, they purchased 8 units at $15 each each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold? On April 6 they chased 5 units at S Γ each. April 8, they sold 18 units...
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