Compute for the Cost of Goods Sold using the following:
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Activity # 4 Preparation of Statement of Comprehensive Income
1. Compute for the Cost of Goods Sold using the following:
• Sales – 15,000
• Purchases – 2,000
• Purchase returns – 200
• Purchase discounts – 200
• Freight in – 100
• Beginning inventory – 1,000
• Ending inventory – 500
Step by step
Solved in 2 steps
- Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 15 units at $40 $600 Aug. 13 Purchase 5 units at $41 205 Nov. 30 Purchase 11 units at $42 462 Available for sale 31 units $1,267 There are 9 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) $fill in the blank 1 b. Last-in, first-out (LIFO) $fill in the blank 2 c. Weighted average cost $fill in the blank 33 Problems seen in the situation of the Company: 1. It does not earn too much but it makes sales enough for maintenance, salaries, income, and savings. 2. Company B makes use of a traditional inventory wherein they manually count their stocks and money. 3. They only have one supplier for liquors. For other supplies which are accessible, they usually buy from the wet market nearby. Proposed Solutions: Solution for no. 1- Digital marketing Solution for no. 2 – Perpetual Inventory System Solution for no. 3 – Supplier Quality Management System Hello, can someone help me? How am I going to create a decomposition diagram for these three solutions?What is chase demand plan?
- Please provide answers to subparts d to J: Company B is a retailer of mobile phones in Australia that works 250 days in a year. The manager is determining a minimum-cost inventory plan for an upcoming phone to be launched in the market. She has collected the following information: • Annual demand: 1000 phones • Phone cost: $1,214 each • Phone RRP: $1,349 each • Net weight: 163 g each • Tare weight: 277 g each • Annual inventory holding cost: 15% • Cost per order to replenish inventory: $75 • Annual in-transit holding cost: 10% • Freight rate: $8.10 per kg • Time to process order for freight: 1 days • Freight transit time: 3 days Solve this problem using a non-linear programming (NLP) model to determine the followings: d. The total cost for holding the inventory e. The total cost for transportation f. The total cost for holding the phones during transit g. The total cost for this inventory plan h. The number of orders i. Ordering point j. The profit from this inventory planBusiness Plan for 39 Storage https://www.39storage.com/ (This Company) Cover these points below Executive Summary Cite SourcesE-Book break-even analysis. Eastman Publishing Company is considering publishing an electronic textbook about spreadsheet applications for business. The fixed cost of manuscript preparation, textbook design, and web site construction is estimated to be $160,000. Variable processing costs are estimated to be $6 per book. The publisher plans to sell single-user access to the book for $46. a. Build a spreadsheet model to calculate the profit/loss for a given demand. What profit can be anticipated with a demand of 3,500 copies? b. Use a data table to vary demand from 1,000 to 6,000 in increments of 200 to assess the sensitivity of profit to demand. c. Use Goal Seek to determine the access price per copy that the publisher must charge to break even with a demand of 3,500 copies. d. Consider the following scenarios: Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Variable Cost/Book $6 $8 $12 $10 $11 Access Price $46 $50 $40 $50 $60…
- Imagine that you own a bakery! Your bakery sells cookies and brownies only. To run your bakery successfully, you must determine the production cost for each item, as well as, your maximum production cost for each day. Create a business plan for your bakery! Your business plan must include the following: • The cost to produce a cookie • The cost to produce a brownie • Your maximum production costs per day • The system of inequalities that describes these restrictions • A graph of your system including the shaded solution regionSubject: Logistic management Q): Calculate ROI if profit margin is 12% and Asset turn over ratio is 1.4? Q): calculate ReOrder Point if lead time is 9 days and daily usage is 20 tons?Create the following: • How do to inventory in supplies? • Seasonal Buildups? • Lead time for ordering/service? Details of the business is in the photo attached
- 12. Determine the planned purchases for January (a) at retail and (b) at cost for the lingerie department when the seasonal merchandise plan indicates the following planned figures: Round to the nearest dollar. Sales $88,000 Markdowns 8% BOM Stock $81,000 EOM Stock $66,000 Markup 49%Can you please conduct the cost/benefit analysis and inventory analysis. I do not know what calculations to do. Thank youWhat does sales and operations planning serve? Explain the S&OP procedure?
