2011

Event

Units

NZ\$/unit

Opening perform

0

0

Purchase #1

1,000

\$22.50

Purchase #2

800

\$25.00

Purchase #3

400

\$25.50

Sales

1,700

\$40.00

Using a routine inventory system and the weighted typical method, the finishing inventory value is the next to: A. \$11,975. B. \$12,165. C. \$12,700. Ans: A.

Ending perform Weighted typical Calculations

Units

NZ\$/unit

Total NZ\$

Purchase #1

1,000

\$22.50

\$22,500

Purchase #2

800

\$25.00

\$20,000

Purchase #3

400

\$25.50

\$10,200

Total easily accessible

2,200

\$52,700

Average price

52,700 ÷ 2,200

\$ 23.95

Ending inventory

2,200 – 1,700 = 500 devices

\$ 11,975

100,000

5,000

Import duties

20,000

Shipping of raw products to production facility

10,000

Manufacturing conversion prices

50,000

Abnormal costs as a result of waste product

8,000

Storage expense prior come shipping to customers

2,000

COGS

Weighted Average

CGS FIFO

CGS LIFO

Available because that sale

Units (‘000s) Cost \$ Total cost (\$ 000s) Units marketed Total expense (\$ 000s) Units marketed

Total cost

(\$ 000s)

1 600 600

1 x 600

600 3 x 680

2,040

5 650 3,250

5 x 650

3,250 3 x 650

1,950

3 680 2,040
9 CGAS \$5,890

Cost the sales

\$3,850 Cost the sales

\$3,990

2012

2011

Sales

283.5

234.9

Year-end inventory (LIFO list method)

81.4

53.7

LIFO to make reservation

36.4

21.8

Cost of items sold (LIFO)

203.9

167.3

If the agency uses the FIFO inventory method instead of LIFO, the that company 2012 gross benefit margin is closest to: A. 22.9%. B. 29.8%. C. 33.2%. Ans: C. Change in LIFO to make reservation
 36.4 - 21.8 = 14.6 COGS (FIFO) = COGS (LIFO) – adjust in LIFO make reservation 203.9 – 14.6 = 189.3.You are watching: During periods when costs are rising and inventory quantities are stable, ending inventory will be:See more: Drawing Resonance Structures For So4 2-, File:Sulfate Gross profit (FIFO) Sales – COGS (FIFO) 283.5 – 189.3 = 94.2 Gross benefit Margin (FIFO) Gross profit / Sales 94.2 / 283.5 = 33.23%. \$420,000 \$450,000 Marginal tax rate 30% units \$/unit Total (\$) Opening perform 1,000 7.5 7,500 Purchases 250 7.6 1,900 Sales 550 12.00 6,600 Purchases 300 7.70 2,310 Sales 600 12.00 7,200 Ending list 400 .tags a { color: #fff; background: #909295; padding: 3px 10px; border-radius: 10px; font-size: 13px; line-height: 30px; white-space: nowrap; } .tags a:hover { background: #818182; } Home Contact - Advertising Copyright © 2022 gimpppa.org #footer {font-size: 14px;background: #ffffff;padding: 10px;text-align: center;} #footer a {color: #2c2b2b;margin-right: 10px;}