VALUATION OF CLOSING INVENTORY under various methods
Not what you're looking for?
ABLE -A
01-Jun INVENTORY 200 5 1000
PURCHASES 300 6 1800
500 7 3500
1000 5300
WEIGHTED AVERAGE 5.3
FIFO METHOD
VALUATION OF CLOSING INVENTORY
150 UNITS@ 7/- 1050
COST OF GOODS SOLD 5250
OPENING STOCK + PURCHSES - CLOSING STOCK
NEED HELP SOLVING THE ATTACHED PROBLEMS
---
- Posting regarding Naperville Company
---
(See attached file for full problem description)
Purchase this Solution
Solution Summary
This explains the steps for VALUATION OF CLOSING INVENTORY under various methods
Solution Preview
TABLE -A
01-Jun INVENTORY 200 5 1000
PURCHASES 300 6 1800
500 7 3500
1000 5300
WEIGHTED AVERAGE 5.3
FIFO METHOD
VALUATION OF CLOSING INVENTORY
150 UNITS@ 7/- 1050
COST OF GOODS SOLD 5250
OPENING STOCK + PURCHSES - CLOSING STOCK
LIFO ...
Purchase this Solution
Free BrainMass Quizzes
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Basics of corporate finance
These questions will test you on your knowledge of finance.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.