Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marigoldcompany ltd. had 116 units in beginning in

MarigoldCompany Ltd. had 116 units in beginning inventory at a total cost of NT$354,380. The...

90.2K

Verified Solution

Question

Accounting

image

MarigoldCompany Ltd. had 116 units in beginning inventory at a total cost of NT$354,380. The company purchased 232 units at a total cost of NT$811,304. At the end of the year, Marigold had 87 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO and average-cost. (Round average-cost per unit to 2 decimal places, e.g. 2.25 and final answers to O decimal places, e.g. NT$45.) FIFO Average-cost The cost of the ending inventory NT$ NT$ The cost of goods sold NT$ NT$ Which cost flow method would result in the higher net income? method would result in the higher net income. Which cost flow method would result in inventories approximating current cost in the statement of financial position? method would result in inventories approximating current cost in the statement of financial position. Which cost flow method would result in Marigold paying fewer taxes in the first year? method would result in Marigold paying lower taxes in the first year

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Your best friend Frank just celebrated his 30th birthday and wants to start saving for his...

Medical Sciences
1.2K views

1: a) How is active transport different from facilitated diffusion? b) Describe the Na-K pump and the role...

Psychology
1.2K views

how you would use Vygotsky's theory to improve student learning

Physics
1.2K views

Three capacitors, all initially without any dielectrics inserted, of C1 = 4 micro-farads, C2 = 10...

Basic Math
1.2K views

A rectangular garden 98 square feet in area is to be fenced off against rodents....

Algebra
1.2K views

8 Find cos a B given cos a 45 sin B 3 2 a 90...

Algebra
1.2K views

Question 7 P The price of a widget was 468 Over four years the price...

Accounting
1.2K views

Cost of goods sold would NOT appear on the income statement of which of the...

Accounting
1.2K views

An income statement for Sam's Bookstore for the first quarter of the year is presented...

Accounting
1.2K views

Pharoah Company, a machinery dealer, leased a machine to Dexter Corporation on January 1, 2020....

Accounting
1.2K views

Namwandi Traders Trial balance as at 31...

Accounting
1.2K views

Which one of the following is NOT a dysfunctional team role? Select one: a. Controlling...