# Calculate cost of goods sold, ending inventory, and gross profit under each of the following inventory valuation methods

05 / 03 / 2018 Assignment

This paper circulates around the core theme of Calculate cost of goods sold, ending inventory, and gross profit under each of the following inventory valuation methods together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 45. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Inventory valuation
methods: computations and concepts
. Wave Riders
Surfboard Company began business on January 1 of the current year. Purchases of
surfboards were as follows:

 1/3: 100 boards @\$125 3/17: 50 boards @ \$130 5/9: 246 boards @140 7/3: 400 boards @ \$150 10/23: 74 boards @\$160

Wave Riders sold 710 boards at an
average price of \$250 per board. The company uses a periodic inventory system.

Instructions

a. Calculate cost of
goods sold, ending inventory, and gross profit under each of the following
inventory valuation methods:

·
First-in, first-out

·
Last-in, first-out

·
Weighted average

b.
Which of the three methods would be chosen if management’s goal is to

(1) produce an
up-to-date inventory valuation on the balance sheet?

(2)
approximate the physical flow of a sand and gravel dealer?

(3) report low earnings (for tax purposes) for a separate electronics
company that has been experiencing
declining purchase prices?

### 100% Plagiarism Free & Custom Written

International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

Company # 11483120

## STILL NOT CONVINCED?

We've produced some samples of what you can expect from our Academic Writing Service - these are created by our writers to show you the kind of high-quality work you'll receive. Take a look for yourself!

View Our Samples

## Benefits You Get

• Free Turnitin Report
• Unlimited Revisions
• Installment Plan
• Plagiarism Free Guarantee
• 100% Confidentiality
• 100% Satisfaction Guarantee
• 100% Money-Back Guarantee
• On-Time Delivery Guarantee

+44 7340 9595 39
+44 20 3239 6980
[email protected]
AKOSZTEC “International House, 12 Constance Street, London, United Kingdom, E16 2DQ”

Hire Researcher
Rated 4.7/5 based on 8956 Reviews

## Supporting Pages

FLAT 25% OFF ON EVERY ORDER. Use "FLAT25" as your promo code during checkout