merchandising business on December 1 and enters into three inventory purchases: December 7 10 units @ $6 cost December 14 20 units @ $12 cost December 21 15 units @ $14 cost Trader sells 15 units for $25 each on December 15. 8 of the sold units are from the December 7 purchase and 7 are from the December 14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on (a) FIFO, (b) LIFO, (c) weighted average
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290 + $2,240) PROBLEM 5-2A | June 1 Merchandise Inventory 960 Accounts Payable 960 3 Accounts Receivable 1,200 Sales 1,200 Cost of Goods Sold 720 Merchandise Inventory 720 6 Accounts Payable 60 Merchandise Inventory 60 9 Accounts Payable ($960 – $60) 900 Merchandise Inventory ($900 X .02) 18 Cash 882
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[pic] [pic] Assignment On “A Business Analysis of Square Pharmaceutical Ltd.” Course Title: Financial Statement Analysis Course code: ACT-513 Assignment on “Business Analysis of” (Square Pharmaceutical Ltd) Submitted to: Mr. Mohammed Sakhawat Hossain Assistant Professor Faculty of Business and Economics Daffodil International University Submitted by: Mujahed Hossin 113-14-588
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Manufacturing has plans to achieve higher capacity ratio, cost-effective transportation, reduced levels of inventory, decreased wastage, and the implementation of an Enterprise Resource Planning. In this study, there will be a review of Riordan Manufacturing’s operational strategy and an addition of the topic of process design to it. “The process design includes the selection of appropriate technology, sizing the process over time, the role of inventory in the process, and locating the process” with quality
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IIM INDORE PGP 2015-17 FINANCIAL ACCOUNTING & CONTROL ASSIGNMENT-2 This assignment is intended to help you practice solving problems and get concept clarity on two topics: Cash Flow Statement and Inventory Valuation. Attempt all questions and submit by 31st Aug 2015. 1. S Co. entered into the following transactions: a. Paid suppliers b. Received dividend from an associate. c. Sold investments at a gain. d. Purchased copyrights with cash. e. Issued debentures in exchange
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A REPORT ON INVENTORY MANAGEMENT IN DIGILINK Submitted by MONIKA AGARWAL Regd No. – 09KB045 in partial fulfillment for the award of the degree of PGDM program at Krupajal Business School, Bhubneshwar UNDER THE FACULTY GUIDE : UNDER THE COMPANY GUIDE : Sushant Mishra Mr. Mourya Banerjee KBS, Bbsr Territory Head-North East
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COMPANY PROBLEM In 1989, Auditors of Wrencroft Appliance Company (WAC) proposed two different inventory write-downs regarding a discontinued microwave product and spare parts to the company’s audit committee. John Moore, WPC‘s CFO, is in the position to make recommendations to the board regarding the proposed adjustments. He needs to make a careful evaluation of whether the proposed inventory write-downs are necessary for the independent accountants to render unqualified opinion. In order to
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Accounting Implications of Valuing Inventory under FIFO and LIFO Laura Lance Financial Accounting, ACC211 Instructor Suzanne Lozano 8 December 2011 FIFO and LIFO 1 Accounting Implications of Valuing Inventory under FIFO and LIFO LIFO and FIFO Inventory Accounting Methods The two most common methods of inventory accounting are Last-in-first-out (LIFO), and first-in –first out (FIFO), choosing the correct method of inventory accounting could be detrimental
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make-to-stock philosophy. It stocks its finished goods inventory in own warehouse sells the products from an outlet. Customers are the end consumers and independent retailers. This distribution network we call ‘manufacturer and retail storage with customer pickup’. Rajnigandha sources its raw materials from China and Taiwan uses independent transport agency for inbound transportation. Raw materials are stored in the factory which minimizes inventory cost. The company focuses on efficiency not on responsiveness
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INVENTORY MANAGEMENT INTRODUCTION Inventory is a detailed list of movable goods such as raw materials, work in progress, finished goods, spares, tools, and consumables, general supplies which are necessary to manufacture products and to maintain the plant and machinery in good working condition. Generally, Inventory refers to the materials in stock. Inventory management is the overseeing and controlling of the ordering, storage and use of components that a company will use in the production
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