Ask Experts Questions for FREE Help!
  Advanced
Register  |  Log in  
   Ask    
 Answer  
  Help  

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now
3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Business & Careers > Accounting   »   Using the FIFo method

 
Question Tools Search this Question Display Modes
Question
 
 
#1  
Old Jan 30, 2007, 12:40 PM
seansmith
New Member
seansmith is offline
 
Join Date: Jan 2007
Posts: 1
seansmith See this member's comment history on his/her Profile page.
Using the FIFo method

Please help.
How do I calculate this problem utilizing both the FIFo method and the weighted-average method?

1. Inventory begins with no work in progress.
2. 270,00 butes transrerred in from prior processing
3. 250,000 units were completed and sold.
4. Costs transferred in from prior deptment totaled $49,221.
5. No materials are addid in the fianl processing department.
6. A total of $16,320,000 of conversion cost was incurred in final processing during the year.
(the units in the ending inventory in final processing are 25% complete )


Thanks!!!

Reply With Quote
 
     



Question Tools Search this Question
Search this Question:

Advanced Search
Display Modes

 
Similar Sponsors

Similar Questions
Question Asker Topic Answers Last Post
first -in first out (fifo) Mary_587 Accounting 1 Dec 11, 2006 01:50 PM
Lifo, Fifo method of inventory Medass1963 Finance & Accounting 1 Dec 4, 2006 12:59 PM
Fifo chiefofisi Finance & Accounting 1 Oct 18, 2006 10:04 AM
Fifo (first in first out) penny680 Finance & Accounting 1 Sep 12, 2006 04:16 PM
Fifo Or Lifo Costing Method rainbom Finance & Accounting 1 Apr 5, 2006 10:33 AM




Copyright ©2003 - 2007, Ask Me Help Desk.
All times are GMT -8. The time now is 11:20 PM.

Content Relevant URLs by vBSEO 3.0.0 RC6 © 2006, Crawlability, Inc.