Computing the final value of inventory, Accounting Basics

+44 141 628 6080
[email protected]

Computing the final value of inventory

The Metro Company has $248,655 in ending Inventory on their books at their December 31 year-end with the following transactions still unaccounted for. a. An invoice for $21,500 for material shipped F.O.B. Shipping Point on December 31. The material arrived on January 3. b. An Invoice for $16,450 for material shipped F.O.B. Destination on December 29. The Material arrived on Jan 4. c. A call from a customer holding $31,000 of material on consignment saying that they sold $8,000 of the material on December 30. d. A shipment of consignment material for your company store that arrived on December 29. The invoice was for $6,000. What is the final value of Inventory that Metro needs to show on their books at December 31?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Computing the final value of inventory

Reference No:- TGS0517831

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : What is the after-tax return

Understanding the tax consequences of your financial planning decisions is very important. These decisions may sometimes have life-long consequences in addition to a one-time result.

Q : Impacts of organizations-outsourcing in recent years

What have been the impacts of organizations who have engaged in the outsourcing in the recent years?

Q : Calculating depreciation from given data

Compute depreciation. A machine cost $500,000 on April 1, 2008. Its estimated salvage value is $50,000 and its expected life is eight years. Instructions Compute the depreciation expense (to the nearest dollar) by each of the following techniques,

Q : Generic strategy and grand strategy for the organization

Identify the best value discipline, generic strategy, and grand strategy for your organization. Recommend a strategy or combination of strategies the organization should implement.

Q : Computing the final value of inventory

A shipment of consignment material for your company store that arrived on December 29. The invoice was for $6,000. What is the final value of Inventory that Metro needs to show on their books at December 31?

Q : Inventory turnover for the year

What was their Inventory Turnover for the year and what was their DSO (Days Sales Outstanding) in Inventory at Year-end?

Q : Determine the price having cost plus pricing

Shavon company consists of total fixed costs of $6,000,000 and total variable cost of $3,000,000 at a volume level of 300,000 units. Determine the price that would be charged if the company used cost plus pricing and a markup of 25%?

Q : What is the cost per unit to produce model

XYZ Company produces Models X, Y, Z. Model X incurs $50,000 in labor costs and $60,000 in direct material costs. XYZ Company also incurs fixed costs for rent in the amount of $500,000, quality control in the amount of $1 million, and human resourc

Q : What profit margin percent will the company earn

If demand falls to 40,000 units and the company wants to continue to charge the similar price what profit margin percent will the company earn?

1960594

Questions
Asked

3,689

Active Tutors

1452888

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Computing the final value of inventory

Reference No:- TGS0517831

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the after-tax return

Q : Impacts of organizations-outsourcing in recent years

Q : Calculating depreciation from given data

Q : Generic strategy and grand strategy for the organization

Q : Computing the final value of inventory

Q : Inventory turnover for the year

Q : Determine the price having cost plus pricing

Q : What is the cost per unit to produce model

Q : What profit margin percent will the company earn

Identify problems and concerns that contributed

Review the real-life cat and mouse chase

Which of the things happened first

Which are forms of media bias

What cases does female status tend to be highest

How are schools important in the struggle for power

Examine gender inequality on a global scale

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Computing the final value of inventory

Reference No:- TGS0517831

Recent Questions Asked Accounting Basics

Q : What is the after-tax return

Q : Impacts of organizations-outsourcing in recent years

Q : Calculating depreciation from given data

Q : Generic strategy and grand strategy for the organization

Q : Computing the final value of inventory

Q : Inventory turnover for the year

Q : Determine the price having cost plus pricing

Q : What is the cost per unit to produce model

Q : What profit margin percent will the company earn

Asked Questions