Andrew Company produces a specialty wood furniture product, and has the following information available concerning its inventory items: Relevant ordering costs per purchase order Relevant carrying costs for each unit of product: Required annual return on investment Required other costs $6.76 The purchase price per unit of the product is $56. If the economic order quantity (EOQ) is given as 1461 units, computer the total relevant carrying costs of the product over a period between orders. $389 13%

Andrew Company produces a specialty wood furniture product, and has the following information available concerning its inventory items: Relevant ordering costs per purchase order Relevant carrying costs for each unit of product: Required annual return on investment Required other costs $6.76 The purchase price per unit of the product is $56. If the economic order quantity (EOQ) is given as 1461 units, computer the total relevant carrying costs of the product over a period between orders. $389 13%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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6. Required information Skip to question [The following information applies to the questions displayed below.]Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 9 $ 27,000 Jan. 18 4,000 10 40,000 Totals 7,000 67,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on hand at the end of the month. 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.)
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3. Required information Skip to question [The following information applies to the questions displayed below.]Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 9 $ 27,000 Jan. 18 4,000 10 40,000 Totals 7,000 67,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on hand at the end of the month.
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