Description Amount Inventory of Raw Material (Opening Stock) 12,500.00 Purchases of Raw Materials 102,000.00 Raw Materials Returned 650.00 Carriage on Purchases 1,800.00 Inventory of Finished goods - Opening 10,500.00 Inventory of Finished goods - Closing 12,000.00 Inventory of Raw Material (Closing Stock) 13,000.00 Cost of Raw Material Consumed ? find Cost fo Raw material consumed

Q: Beginning work in process inventory Units started this period Units completed and transferred out…

A: EUP stands for equivalent units of production. EUP are calculated on the basis of percentage of the…

Q: Finished goods inventory, June 1 Cost of goods manufactured Cost of finished goods available for…

A: Formula: Cost of finished goods available for sale = Beginning finished goods + Cost of goods…

Q: Provide tutor pls Answer

A: To determine Anchor's cost of goods sold (COGS) for the year, we can use the following formula: COGS…

Q: According to the information given in the table below, which of the following is Prime Cost? Opening…

A: Net purchase=Purchase-Purchase return=128,000-1,800=126,200

Q: According to the information given in the table below, which of the following is Cost of Goods Sold?…

A: Cost of goods sold is the cost which relates to the goods which has been sold during the year or…

Q: Data Section: Depreciation--equipment Direct labor Direct materials inventory, 1/1 Direct materials…

A: The cost of goods manufactured schedule shows the total costs incurred to manufacture the product.…

Q: According to the information given in the table below, which of the following is Raw materials…

A: Given, Opening raw material (RW) =14,500 Purchases = 104,300 Purchase return = 1,120 Closing RW =…

Q: None

A: Raw material means the material purchased and still not enter in to the production lines.Work in…

Q: pening stock of work in progress is 22000, and closing stock of Work in progress is 23750 OMR, Cost…

A: Cost of goods sold can be computed as = Cost of goods manufactured + Opening stock of finished…

Q: 1. How do I find the net income?  2. What is the correct title for this statement?

A: In the cost sheet of the business, various costs of the business are recorded in various heads like…

Q: Calculate the cost of goods available for sale. Inventory Opening Closing Material $100 $120 Work…

A: COST OF GOODS AVAILABLE FOR SALE : COST OF GOODS MANUFACTURED + COST OF FINISHED GOODS INVENTORY AT…

Q: E2-8 LIFO costing Using last-in, first-out perpetual inventory costing and the information presented…

A: Last in first out (LIFO) method of inventory says that inventory which is purchased in last will be…

Q: How can I find the Cost of sales for cell D54?

A: Cost of sales is means total cost of manufacturing and selling the product.

Q: Ending Beginning Purchases Available for use Debit Ending Beginning Direct materials used Direct…

A: Cost of Goods Manufactured :— It is the cost of completed units that are manufactured during the…

Q: Date Units Units Cost Inventory 8/1 5,000 P 2.00 Purchases: 8/7 6,000 P 8,000 P 9,000 P 10,000 P…

A: Total units available for sale = 5000+6000+8000+9000+10000+10000  = 48000 units Total no. of units…

Q: Milling Department Cost of beginning work in process inventory Costs added during the period Total…

A: Materials Conversion  Total cost $301,600  $408,000   / Equivalent units / 5,200  / 5,000…

Q: P10-5 Perth Amboy Corporation manufactures white board in a two-department processes. The Assembly…

A: What is meant by Process Costing? Process costing is a method of cost accounting, which is used…

Q: Question Content Area Carmelita, Inc., has the following information available: Line Item…

A: The equivalent units are calculated on the basis of the percentage of the work completed during the…

Q: II. A. The following information is to be used in costing inventory on August 31 August Beginning…

A: The question is related to Valuation of issue of inventory. 1. First in First Out:- : It is a method…

Q: According to the information given in the table below, which of the following is Raw materials…

A: Raw material consumed =Opening stock of raw material +Purchase+ Freight inward-Closing stock of raw…

Q: Give me answer for this question

A: Step 1: Step 2: Step 3: Step 4:

Q: Raw material opening Raw material closing Work in process opening Work in proses closing Finished…

A: A schedule of cost of goods sold presents the cost of manufacturing the goods that are sold during…

Q: Beginning Inventory $500 Ending Inventory $610 Purchases of Materials Cost of Goods Sold $27.900…

A: Lets understand the basics.Manufacturing costs is a total of direct material used, direct labor and…

Q: Exercise 8-38 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: Weighted-Average…

A: Equivalent unit means where some goods remain incomplete at the end of process and we need to…

Q: IV. Given are the financial information of Bart Incorporated. Raw materials inventory 1/1/20 Raw…

A: Since you have posted a question multiple sub-parts, as per the guidelines only the first three…

Q: Equivalent Units and Product Cost Report-Weighted Average Method In its first month's operations,…

A: Process costing system is that costing system which is used in industries where product needs to go…

Q: Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase…

A: First In, First Out, generally known as FIFO, is a valuation technique in which assets created or…

Q: Prepare the current assets section of Bramble's statement of financial position as at December 31,…

A: Balance sheet shows the financial position of the company that involves the assets, liabilities, and…

Q: According to the information given in the table below, which of the following is Prime Cost?…

A: Prime cost = Direct Material cost + Direct Labor cost Direct Material consumed = Opening Stock +…

Q: Illustration 2 Entity A is having inventory amounting 100,000 in total with the details as below:…

A: Entity A has estimated its materiality limit of Rs. 30,000 which suggests that everything which is…

Q: Opening stock of Raw material is 280000 OMR ,Freight Inwards 3000 OMR, custom duty on purchases 2000…

A: Raw material consumed = Opening stock of Raw material + Freight Inwards + custom duty on purchases +…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.