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2 years ago

The inventory costing method that identifies each item in ending inventory with a specific purchase and invoice is the:______.

1 answer:

6 0

The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the: Weighted average inventory method.

<h3>What is Weighted average inventory method?</h3>

The COGS and inventory amounts are determined using a weighted average in the Weighted Average Cost (WAC) technique of inventory valuation in accounting. The weighted average cost method divides the price of the items up for grabs by the quantity of them. Under IFRS accounting as well as GAAP, the WAC approach is acceptable. Beginning inventory value plus acquisitions are used to compute costs of products that are offered for sale.

The number of units a business can sell, or the total number of units in inventory, is determined by adding the beginning inventory in units plus the purchases in units.

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Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials

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Answer:

$6.25

Explanation:

Given the data below from the above information,

The actual quantity of direct materials purchased 24,000 pounds

Standard price of direct materials price $6 per pound

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Material quantity variance $2,400

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3 years ago

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Answer:

Causes change in individuals and social systems

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4 years ago

Which of the following costs would be applied to manufactured inventory under variable costing? Select one: A. Cost of raw mater

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D. commissions to sales persons

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4 years ago

Your client, Brooke, decides to start saving for her son's college tuition. Her son was born today and will go to college at age

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Answer:

The present value of the total amount that Brooke needs to have saved at the beginning of her son's first year of college is 31.959,13

Explanation:

Tuition Fees after inflation at

Year 18 = 15000* ( 1+6.5%)18 = 46599.8157

Year 19 = 15000* ( 1+6.5%)19 = 49628.8037

Year 20 = 15000* ( 1+6.5%)20 = 52854.6759

Year 21 = 15000* ( 1+6.5%)21 = 56290.2299

Since discount rate = 10%

So discount factor = 1+r = 1+10% = 1.1

Since fees are paid at beginning of period hence

Present Value of Fees = Fees (year 18)/1.1^18 +Fees at Year 19/1.1^19 +Fees at Year 20/1.1^20 + Fees at year 21/1.1^21 = 46599.8157/1.1^18 + 49628.8037/1.1^19 + 52854.6759/1,1^20 + 56290.2299^21 = 31959.13

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