i.3 Pina Vision Inc. opened for business on Jan 1, and uses a perpetual inventory system. During January, the company had the followingpurchases and sales for one of its products:DateJan. 1(a)71416172730Units1,412800907513PurchasesCost of Goods SoldUnit CostEnding Inventory$25FIFO$$273528Units6121,2001,524SalesDetermine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. Ignore the effect of income tax.(Round average cost answers to 2 decimal places, e.g. 5,275.75.)Unit Price$951689487575Average Cost$$

FIFO Method -The First-in First-out (FIFO) method of inventory valuation is based on the assumption…

Pina Vision Inc. opened for business on Jan 1, and uses a perpetual inventory system. During January, the company had the following purchases and sales for one of its products: Date Jan. 1 7 14 16 17 27 30 Units 1,412 800 907 513 Purchases Cost of Goods Sold Ending Inventory Unit Cost $25 $ 27 $ FIFO 35 28 Units 612 1,200 1,524 Sales Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. Ignore the effect of income tax. (Round average cost answers to 2 decimal places, e.g. 5,275.75.) Unit Price $95 168948 75 75 Average Cost $ $

Pina Vision Inc. opened for business on Jan 1, and uses a perpetual inventory system. During January, the company had the following purchases and sales for one of its products: Date Jan. 1 7 14 16 17 27 30 Units 1,412 800 907 513 Purchases Cost of Goods Sold Ending Inventory Unit Cost $25 $ 27 $ FIFO 35 28 Units 612 1,200 1,524 Sales Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. Ignore the effect of income tax. (Round average cost answers to 2 decimal places, e.g. 5,275.75.) Unit Price $95 168948 75 75 Average Cost $ $

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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Can you answer part E of this qu
b. Working/Application of ABC analysis?
what is a P&L
In examining the feasibility of an enterprise of egg laying hens (chickens), you discover that while the chickens can live successfully on pasture, if you give them a feed of barley, sunflower seeds and maize, you will increase the egg production per unit of time. a) Since your goal is to maximize the profitability of the enterprise, what do you have to consider? b)On a per hen-basis what things would you need to consider to make the determination? c) Why would the price at which you sell the eggs matter? Because you need to get the gross margin per egg produced of both production schemes.
question G and f.
Define principal
The following are data on three promissory notes. Determine the missing amounts. (Round answers to O decimal places, e.g. 5,275. Use 360 days for calculation.) Date of Note Terms Maturity Date Principal (a) April 1 60 days May 31 $842,400 (b) July 2 30 days August 1 100,800 (c) March 7 6 months September 7 129,600 Annual Interest Rate 5 % $ Total Interest 6 ୫୫ 252,720 $504 10 % $ 2,365,200
how do I put it under the collums of the a,b,c,d, etc... which goes under which I'm confused on that