Problem 4 - The branch inventory on December 31, 2008 is P260,000.  On January 1, 2009, the Branch Current account on the books of the Home Office should have a balance of?

Accounting Current Cost Measurement Why liabilities, such as Accounts Payable (an obligation) is usually recorded using current cost in the financial statements rather than historical cost measurement?

Current Attempt in Progress Bramble Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $131 each. During June, the company had the following purchases and sales of bookcases: Purchases Sales Date Units Unit Cost Units Unit Price June 6 1,200 $133 10 10 1,050 $197 14 1,740 134 16 1,630 202 96 26 1,030 135 (a) Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places. e.g 5.52.) Cost of goods sold $

4 1 point Gingerbread, Corp. presents the following information for inventory purchases and sales throughout the month of December. The company uses LIFO Periodic Method for inventory. UNIT DATE TRANSACTIONS UNITS COST Beginning |inventory December 1 |1,000 $1.00 December 5 Sale December 20 December 31 500 Purchase 1,000 $1.10 Sale 500 Cost of goods sold for the month of December is type your answer.