Grade 12 Accounting Help about inventory? - is 25 units 5000 cc
Hello. Please help me with this issue. Choi, the company had an inventory of 1 January SXL produce 100 units at a price of $ 20 per unit. Made during the year after the purchase is:
Mar.15 - 300 units at $ 24 = $ 7,200
july.20 - 200 units at $ 25 = $ 5000
sept.4 - 300 units at $ 28 = $ 8400
2. December - 100 @ $ 30 = $ 3000
In addition to the initial survey of 100 @ $ 20 = $ 2000
Total cost of goods sold is $ 25,600
The question is to determine the cost of the final product. However, the question presented does not indicate if the business use FIFO, average, LIFO, or, does it matter? How can I say without this information?
Thank you for your help
Saturday, January 30, 2010
Is 25 Units 5000 Cc Grade 12 Accounting Help About Inventory?
1 comment:
First, we need to know how many units were sold during the year.
So, if I were you, I would calculate the IE with the three methods.
Formula: OI = cost + purchase of goods for sale - cost of sales = IE
Determine your cost of sales by assigning a cost of units sold, then you have Internet Explorer.
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