Maurice Tutor

(5)

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Jul 2017 My Price 4.00

Health World

Health World began January with an inventory of 50 crates of vitamins that cost a total of $1,000. During the month, Health World purchased and sold merchandise on account as follows:
Purchase 1 . . . . . . . .100 crates @ $ 25
Sale 1 . . . . . . . . . . . .130 crates @ $ 40
Purchase 2 . . . . . . . . 90 crates @ $ 30
Sale 2 . . . . . . . . . . . .100 crates @ $ 50
Health World uses the LIFO method.
Cash payments on account totaled $5,500. Operating expenses for the month were $3,000, with two-thirds paid in cash and the rest accrued as Accounts payable.
Requirements
1. Which inventory method most likely mimics the physical flow of Health World’s inventory?
2. Prepare a perpetual inventory record, using LIFO cost, for this merchandise.
3. Journalize all transactions using LIFO.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Jul 2017 10:07 PM My Price 4.00

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