Baghdad UnivercityHigher Institute of Accounting and Finuncial studiesDepartmet of Acounting studiesThe Second Stage /cost and Administrative A cc-Finaricial AccounitingDr. Wafea AL. HaidariQ: The Following Information is avalable fromIraq Coimpanlyunituni! C-stJanuary I, 2018 Beginning InventoryPurchases :February 10, 2018Februany 20, 2018March1200$16メ18ス。$ 22$24on April 30, s018, shows 3ece uits22 00260010, 20131600AprilAphysical Inventoryon hand.Instructions :-25, r0181200Assuming Iraq Co. Uses a periadic system, PrepareSchedules to Compute the Ending Inventory al Aprilso,2018 under each of the Following Invertorymethads (round to two decimal places).a. Specific Identification.b. FIFOC Weighted Average.Under (a), 8∞ units from the beginning Inventaryare on hand and 2200 from the February 10, pwchaeae on handO O

Solution: Introduction: Inventory Valuation Methods are generally used to determine the Cost of…

Baghdad Univercity Hig her Institute of Accountinq and Fincuncial studies Departmet of Acounting studies The Second Stage /cost and Administrative Acc. Financial Accounting Dr. Wafea AL. Haidari Q: The Following Informotion is available from Iraq Compay unit Cst unit January , 2018 Beginning Inventory Purchases : February 10, 2018 Februany 20, 2018 March 1200 $16 18 22.00 2600 $ 22 $24 10, 213 1600 April Aphysical Inventory on hand. Instructions :- 25, 2018 1200 on April 30, scra, shows 3eee units Assuming Iraq Co. Uses a periadic system, Prepare Schedules to Compute the Ending Inventory al April so. 2018 under each of the Following Invortory methals (round to two decimal places). a. Specific Identification. b. FIFO C Weighted Average. Under (a), 2∞ units from the beginning Inventary are on hand and 2200 from the February , pwchae aue on had

Baghdad Univercity Hig her Institute of Accountinq and Fincuncial studies Departmet of Acounting studies The Second Stage /cost and Administrative Acc. Financial Accounting Dr. Wafea AL. Haidari Q: The Following Informotion is available from Iraq Compay unit Cst unit January , 2018 Beginning Inventory Purchases : February 10, 2018 Februany 20, 2018 March 1200 $16 18 22.00 2600 $ 22 $24 10, 213 1600 April Aphysical Inventory on hand. Instructions :- 25, 2018 1200 on April 30, scra, shows 3eee units Assuming Iraq Co. Uses a periadic system, Prepare Schedules to Compute the Ending Inventory al April so. 2018 under each of the Following Invortory methals (round to two decimal places). a. Specific Identification. b. FIFO C Weighted Average. Under (a), 2∞ units from the beginning Inventary are on hand and 2200 from the February , pwchae aue on had

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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CNOWv2 Student Help x + enow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locato... 시기 wsing Protection X Chapter 9 < Cost of merchandise sold Inventories: Beginning of year eBook Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for Amsterdam Company follow: End of year 20Y4 20Y3 X Inventory Turnover 20Y4 Show Me How 20Y3 CengageNOWv2 | Online t X Search 20Y4 $3,598,900 593,000 648,000 a. Determine the inventory turnover for 20Y4 and 20Y3. Round to one decimal place. Print Item 20Y3 $3,015,630 b. Determine the days' sales in inventory for 20Y4 and 20Y3. Assume 365 days a year. Round interim calculations and final answers to one decimal place. OL 589,600 Days' Sales in Inventory days days c. Does the change in the inventory turnover and the days' sales in inventory from 20Y3 to 20Y4 indicate a favorable or an unfavorable 593,000 10 Q 813 PrtSc Insert S 1 3/
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Prepare journal entry, Record inventory write down to LCM / NRV
A and b please
Concept Videos i es Required information UNIT 30s $45 May 1 April 5 April 10 April 15 April 201 April 22 # Knowledge Check 01 Assume that we use a perpetual inventory system and that five identical units are purchased at the following four dates and costs: 3 $ 10 $ 12 0:00-0:54 $14 $16 - $17 Cost of the ending inventory $ One unit is sold on April 25. The company uses the weighted average inventory costing method. Identify the cost of the ending inventory on the balance sheet. Note: Round your answer to 2 decimal places. 4 % 5 H 6 In
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education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddlewa Prin X M Question 4 - Chapter 5, Assign X Maps Porter's Five Forc... signment 2 8 January 1 April 1 October 1 The following information pertains to the inventory of Parvin Company during Year 2. 300 units @ $37 2,900 units @ $42 500 units @ $45 During Year 2, Parvin sold 3,500 units of inventory at $80 per unit and incurred $46,000 of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $84,000, inventory of $11,100, common stock of $59,000, and retained earnings of $36,100. FIFO General Journal Required a. Record the above transactions in general journal form and post to T-accounts using (1) FIFO and (2) LIFO. Use a separate set of journal entries and T-accounts for each method. Beginning Inventory…