ABC Company had the following purchases and sales information: Purchases Sales January: February: 20 units at $110 20 units at $120 May: 15 units November: 10 units at $130 Using the weighted average inventory costing method, what is the value of the cost of goods sold on May? А. $4,240 В. $2,670 C. $1,725 D. $2,650

Q: Weighted average cost per unit = per unit. Cost Cost of Goods Allocation Cost of Goods Sold Ending…

A: Sales = (50 units x $120) + (25 units x $125) = $6000 + $3125 = $9125 Cost of Goods Available = (100…

Q: What does inventories /sales ratio mean?

A: An accounting metric used to measure liquidity, solvency, efficiency etc. of a business entity is…

Q: What is Day's-sales-outstanding ratio?

A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…

Q: Total cost + Profit:____   O a. Selling price   O b. Cost of goods sold   O c. Selling and…

A: The selling price has two components total cost and profit marked upon cost.

Q: How do you calculate Cost of goods purchased

A: Cost of goods purchased (COGP) refers to the total cost incurred by a company to purchase inventory…

Q: How you get the gross profit and cost of goods sold

A: Gross Profit -Gross Profit is a Profit earned by the entity from the customer. It is the profit…

Q: Under the gross profit method, if the gross profit rate is based on cost, the cost of sales is…

A: The gross profit method is the one wherein the amount of inventory is measured using the gross…

Q: What are the methods used to determine the cost of goods?

A:

Q: What is Cost of Goods Sold (COGS) and how is it calculated? What is Gross Profit and how is it…

A: The income statement is prepared to record the revenues and expenses of the current period.

Q: Contrast the income statement effect of LIFO versus FIFO(on Cost of Goods Sold and Gross Profit)…

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: What is the relationship between total carrying cost and totalordering cost at the EOQ?

A: It indicates an inverse relationship between the cost of ordering and the cost of holding at…

Q: a. Total product cost a. Average cost per unit b. Cost of good sold c. Ending inventory d. Net…

A: Working note:Calculation of depreciation on manufacturing equipment:Depreciation = (cost - salvage…

Q: How to calculate total selling expense

A: Selling expenses are the expenses incurred to sell a product to the customer.

Q: Which of the following formulas is used to calculate the contribution margin ratio? (Sales − Fixed…

A:

Q: How is standalone selling price defined?

A: Performance Obligation: Performance obligation refers to the obligation that the seller to provide…

Q: st of googs sold and intrest expens

A: The cost of goods sold can be calculated by using the inventory turnover ratio. Inventory turnover…

Q: Profit volume ratio is used for the calculation of: Select one: O a. Profit at given sales O b.…

A: The profit volume ratio is also known as contribution margin ratio.

Q: Calculate Sandhill's net sales, cost of goods sold, and gross profit for these sales. Net sales Cost…

A: Gross Profit = Sales - Cost of Goods SoldGross Profit is derived by deducting cost of goods sold…

Q: Define return on sales ( or profit margin).

A: Financial ratios represent the accounting ratios computed by the management by using elements of…

Q: Selling Expense is an example of     Period cost     Product cost     Cost of sales     Cost of…

A: Selling expense are those expense that incurred on selling the product after manufacturing. For…

Q: Explain percent of sales method.

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: Which of the following is an opportunity cost? marginal cost cost of sales O lost sales cost of…

A: Introduction: Opportunity cost: Cost for the opportunity lost called Opportunity cost.

Q: How is the profit margin on sales calculated?

A: Profit margin on sale: it's categorized under profitability ratio , generally this ratio is used to…

Q: How do you compute the unadjusted cost of goods sold?

A: Cost of Goods Sold: Once the product is manufactured, that product is delivered to customers. The…

Q: : The difference between total sales revenue and total cost of goods sold is the   Group of answer…

A: Trade margin = Total sales revenue - Total cost of goods sold

Q: Why is the constant gross-margin percentage NRV method sometimes called a “joint-cost allocation and…

A: Constant gross-margin percentage NRV method: Constant gross margin percentage NRV method is a method…

Q: compute the gross profit percentage

A: Gross profit: It implies to the excess of company's net sales over the cost incurred on goods sold…

Q: What would be the sales value or turnover corresponding to the threshold of profitability

A: Sales turnover:  It is the company's total amount of services / products sold over a given period of…

Q: How to get or compute the gross sales

A: Gross sales is presented in income statement.

Q: How are costs assigned differently using the average cost method?

A: Inventory valuation is the valuation of inventory at the time of its purchase and sale using…

Q: Mark up can be calculated by the formula; a. Markup = Cost + Expenses b. Markup = Cost + Profit c.…

A: Markup refers to the difference between the selling price of a good or service and its cost

Q: Which of the following is the correct calculation of selling price? O a. Cost + Mark-up O b.…

A: Selling price is price at which goods and services are sold to customer. This selling price includes…

Q: The of each product's sales to. O selling price, profit O unit price, expense O ratio, total sales O…

A: Sales mix refers to the combination or proportion of different products or services that a company…

Q: Explain briefly how do you understand the concept of Cost of Good Sold. (In your own understanding

A: The cost of Good sold is an important matrix that is used in the accounting in finance in order to…

Q: Calculate cost of goods sold using: 1) FIFO 2) Weighted-average cost || 3) LIFO

A: FIFO Method:

Q: Draw up a marginal statement that calculates the contribution per uni

A: Marginal costing seems to be a costing method whereby all variable expenses are included in the…