Please provide this question solution general accounting A company has the following inventory specifications: Unitsrequired annually = 2400 Holding cost per unit per year = $0.8Order preparation cost = $15Calculate:a) Optimum lot sizeb) Annual holding costc) Annual order costd) Total annual cost

Step 1: Definition of Economic Order Quantity (EOQ)Economic Order Quantity (EOQ) is the optimal lot…

Answered: A company has the following inventory…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2TP: Assume your company uses the periodic inventory costing method, and the inventory count left out an...

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he following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales 1,600 units Beginning inventory 500 units @ $ 4 Purchases, in chronological order 600 units @ $ 5 800 units @ $ 6 500 units @ $ 8 Required:a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.) b. Assume that net income using the weighted-average cost flow assumption is $80,000. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)
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2. Consider the following transactions for DeTrees Company for the month shown in chronological order: Number of Units Unit Cost Sales Beginnig inventory 100 $66 Puchased 80 75 Sold 50 $120 Sold 25 125 Ending inventory 105 In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit,…

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A company has the following inventory specifications: Units required annually = 2400 Holding cost per unit per year = $0.8 Order preparation cost = $15 Calculate: a) Optimum lot size b) Annual holding cost c) Annual order cost d) Total annual cost