Using the data below, determine the ending inventory amount assuming the weighted average method with a periodic inventory system. 1. Beginning inventory, 10 units 2. Purchases, 20 units 3. Total cost of units available for sale, $3,000 4. Ending inventory, 12 units a) $3000 b) $12000 c) $100 d) None of these

Related Questions

• A company pays its employees $4,250 each Friday, which amounts to $850 per day for the five-day workweek that begins on Monday. If the monthly accounting period ends on Thursday and the employees worked through Thursday, the amount of salaries earned but unpaid at the end of the accounting period is:
• During the recent economic crisis, Presidents George W. Bush and Barack Obama increased government spending by trillions, in order to revive the ailing economy. Their strategy followed the economic theory known as:
• Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the company follows: Beginning raw materials inventory $ 27,000 Ending raw materials inventory 29,000 Raw material purchases 107,000 Beginning work in process inventory 57,000 Ending work in process inventory 42,000 Direct labor 147,000 Total factory overhead 77,000 Beginning finished goods inventory 72,000 Ending finished goods inventory 62,000 The company's cost of direct materials used, cost of goods manufactured and cost of goods sold is:
• What are the three workplace violence prevention strategies covered in this module? A. Employer and employee involvement, remaining calm, and calling 911. B. Employer and employee involvement, recognizing warning signs, and developing coping skills. C. Employer and employee involvement, adhering to workplace safety guidelines, and implementing security measures. D. Establishing employer's written policies, assigning employee responsibilities, and enhancing coping skills.
• Tree City reported a $1,500 net increase in fund balance for governmental funds for the current year. During the year, Tree purchased general capital assets of $9,000 and recorded depreciation expense of $3,000. What amount should Tree report as the change in net position for governmental activities? A. $(4,500) B. $1,500 C. $7,500 D. $10,500
• You have just received notification that you have won the $2 million first prize in the centennial lottery. However, the prize will be awarded on your 100th birthday, 76 years from now. Requried: What is the present value of your windfall if the appropriate discount rate is 8%?
• Brenda is a purchasing agent for Commodities Exchange Corporation. Dennis, a corporate officer of Commodities, grants Brenda written authorization to acquire as many computers and peripheral devices as the company requires. The following day, Dennis instructs Brenda to purchase only fifty notebook computers and no additional items. Despite this, Brenda presents her written authority to E-Products, Inc., and agrees to purchase sixty notebook computers along with an assortment of printers, scanners, and extra storage media. E-Products fulfills the order and sends it to Commodities. Is Commodities liable to E-Products under the contract? It depends on several factors, including the authority Brenda had at the time of the contract, how the authority was communicated to E-Products, and whether E-Products was acting in good faith based on Brenda's representations. As Brenda entered into a contract for more items than Dennis had authorized and for a quantity exceeding the limitation he imposed, Commodities may not be liable for the entire order unless Brenda’s initial written authority led E-Products to reasonably believe she still retained the power to contract on behalf of Commodities. If the initial written authorization appeared to give Brenda broad powers and E-Products was unaware of the limitation imposed by Dennis, Commodities might be held liable based on the concept of apparent authority. However, if E-Products was—or should have been—aware of Brenda’s limited authority, Commodities might not be held liable for the contract that exceeded her actual authority. As for Brenda's liability, if she knowingly exceeded her authority, she may be personally liable to either Commodities or E-Products for any resulting damages. Agents who act beyond their authority can become liable for breaching their fiduciary duty to their principal if they cause harm by exceeding that authority. However, Brenda’s liability would also depend on the specifics of how the authority was communicated and restricted, as well as on what E-Products knew or should have known about such restrictions.
• _________ occurs when a good or service is produced at the lowest possible cost. (A) Voluntary exchange (B) Allocative efficiency (C) Productive efficiency
• Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's anticipated annual volume of 34,200 units. Per Unit Total Direct materials $15 Direct labor $5 Variable manufacturing overhead $11 Fixed manufacturing overhead $478,800 Variable selling and administrative expenses $5 Fixed selling and administrative expenses $171,000 The company uses a 40% markup percentage on total cost.Compute the total cost per unit.Total cost per unit $____________________
• What is the correct order of the following steps in the accounting cycle? 1. Prepare an unadjusted trial balance. 2. Journalize and post adjusting entries. 3. Prepare financial statements. 4. Journalize and post closing entries. 5. Prepare a post-closing trial balance.