The cost of goods sold on October 24 is $4830
The perpetual inventory as on October 31 is 70 units of value as $2310
Explanation:
The order of events in the given scenario,
- Oct. 1 - Inventory 200 units at $30
- Oct. 7 - Sold 160 units
- Oct. 7 - Remaining Inventory 40 units at $30
- Oct. 15 - Purchase 180 units at $33
- Oct. 15 - Total Inventory 40 units at $30 + 180 units at $33
- Oct. 15 - Total Inventory 220 units and value is $7140 ($30 * 40 + $33 * 180)
- Oct. 24 - Sold 150 units
- Oct. 24 - Taken 40 units from the purchase of $30 and 110 units from the purchase of $33 by using FIFO logic
- Oct. 24 - Total cost of goods sold is $4830
So, cost of goods sold on October 24 is $4830
- Oct. 24 - Total Inventory 70 units and value is ($7140 - $4830) = $2310
The perpetual inventory value as on October 31 is $2310
Answer:
false
Explanation:
because it means the action of buying and selling goods and services.
Answer:
The answer is: 44 days
Explanation:
First we have to calculate accounts receivable turnover for Gervais Manufacturing:
= $500,000 / [($80,000 + $40,000) / 2] = $500,000 / $60,000 = 8.33 times
Then to calculate the average collection period for accounts receivable we:
= 365 days / 8.33 = 43.8 days ≈ 44 days
Answer:
as u try to do the benefit of your representative and try to win