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The most basic answer would be the revenues, expenses, and net income of a company through a given period. Which will allow you to figure out the owner's equity which is the amount invested by the owners added to the profits, or losses in the company. Is that good enough for you?
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Helps please
Tevin Trader starts a merchandising business on December 1 and enters into three inventory purchases. December 7 10 units @ $6 cost December 14 20 units @ $12 cost December 21 15 units @ $14 cost Trader sells 15 units for $25 each on December 15. Eight of the sold units are from the December 7 purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Check ( c ) $360. Exercise 6-1 Inventory costing methods—perpetual Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory.. . 120 units @ $6.00 _ $ 720 Jan. 10 Sales.. . &nb sp; 70 units @ $15 Mar. 7 Purchase.. . 200 units @ $5.50 _ 1,100 Mar. 15 Sales.. . &nb sp; 125 units @ $15 July 28 Purchase.. . 500 units @ $5.00 _ 2,500 Oct. 3 Purchase.. . 375 units @ $4.40 _ 1,650 Oct. 5 Sales.. . &nb sp; 600 units @ $15 Dec. 19 Purchase.. . 100 units @ $4.10 _ 410 Totals.. . 1,295 units $6,380 795 units Exercise 6-5 Lower of cost or market Tanzy Company's ending inventory includes the following items. Compute the lower of cost or market for ending inventory (a) as a whole and (b) applied separately to each product. &nbs p; __Per Unit__ Product Units Cost Market Helmets.. . 22 $50 $54 Bats.. . 15 78 72 Shoes.. . 36 95 91 Uniforms.. . 40 36 36 |
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272100, first, start your own thread. Second, did you expect someone to just answer three homework problems for you? It's your work. I'm not going to spend the time just doing your work for you, without seeing that you've even made any effort to do it.
Please see our homework guidelines: https://www.askmehelpdesk.com/financ...-b-u-font.html |
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Originally Posted by Ms. Smith
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