| Company had the following information: Product sales Variable manufacturing costs (DM: P3) Fixed manufacturing overhead (planned and actual) Variable selling and administrative costs Fixed selling and administrative costs In its produced (planned and actual) eginning inventory, units 12,000 units at P 10 each P 6.25 per unit P 12,000 P 0.80 per unit sold P 8,000 10,000 4.000

Q: What are the different methods to estimate inventory?

A:

Q: How do you find the ending inventory?

A: Many companies earn revenue by selling inventory rather than a service. These companies are…

Q: Ending/Beginning Ending Inventory Finished Goods Formula How do you find the beginning and the…

A: Finished goods inventory: It refers to the products in a manufacture’s inventory that are final…

Q: Which of the following, if compared to the other methods for valuing inventory, has a material…

A: The products and materials that a company keeps in stock to either resell them or utilize them to…

Q: The finished goods inventory account is used to record which of the following? Group of answer…

A: Finished goods are materials or products which have received the final increments of value through…

Q: Define inventory shrinkage.

A:

Q: Determine the goods and costs included in inventory.

A: The cost included in inventory includes all the costs incurred to prepare such inventory for sale.…

Q: What is inventory conversion period?

A: Conversion period refers to the length of period at which one asset is converted into another form.…

Q: How are process costing and the FIFO method of inventory related?

A: Inventory valuation is an accounting practice adopted by the company to determine the value of the…

Q: Discuss the effect of absorption and marginal costing on inventory valuation and profit…

A: Absorption costing also written as full costing. Under this method, all costs are considered in…

Q: Briefly explain the usefulness of the inventory figure resulting from the application of lower of…

A: Net Realizable Value(NRV) refers to the inventory value which a business entity can realize from…

Q: The inventory costing method that matches each unit of inventory with its actual cost is referred to…

A: There are many methods to calculate the inventory like FIFO and LIFO method, average cost method,…

Q: How is the desired closing inventory calculated

A: A production budget is a kind of budget that shows the total number of products that must be…

Q: A cost accounting system uses which of the following inventory systems? a.perpetual system…

A: Inventories are assets that are sold, purchased, and manufactured in an organization as a core…

Q: Under which of the following inventory costing methodologies can lower-of-cost-or-market be use

A: Inventory, based on its intended use and where it is in the manufacturing or distribution process.…

Q: What is the relationship between process costing and the FIFO method of inventory

A: Accounting uses both process costing and the FIFO (First-In, First-Out) technique of inventory, but…

Q: how to caculate desire ending inventory?

A: Inventory means Stock. Ending inventory, defined as the value of  inventory remaining at the end of…

Q: To determine the cost of ending inventory using the LIFO​ method:       A. the average cost of the…

A: INVENTORY VALUATION Inventory Valuation is a Method of Calculation of Value of Inventory at the End…