a) The gross margin for March, using the moving-weighted-average method is $5,907.
Journal Entries:
March 7th
Debit Inventory $3,000
Credit Cash $3,000
Debit Cost of Goods Sold $500
Credit Inventory $500
Debit Cash $800
Credit Sales Revenue $800
March 14th
Debit Inventory $3,060
Credit Cash $3,060
Debit Cost of Goods Sold $4,032
Credit Inventory $4,032
Debit Cash $6,400
Credit Sales Revenue $6,400
March 21st
Debit Inventory $3,060
Credit Cash $3.060
Debit Cost of Goods Sold $3,036
Credit Inventory $3,036
Debit Cash $4,800
Credit Sales Revenue $4,800
March 28th
Debit Inventory $3,030
Credit Cash $3,030
Debit Cost of Goods Sold $2,525
Credit Inventory $2,525
Debit Cash $4,000
Credit Sales Revenue $4,000
b) The gross margin for March, using the first-in-first-out method is $5,920.
Journal Entries:
March 7th
Debit Inventory $3,000
Credit Cash $3,000
Debit Cost of Goods Sold $500
Credit Inventory $500
Debit Cash $800
Credit Sales Revenue $800
March 14th
Debit Inventory $3,060
Credit Cash $3,060
Debit Cost of Goods Sold $4,000
Credit Inventory $4,000
Debit Cash $6,400
Credit Sales Revenue $6,400
March 21st
Debit Inventory $3,060
Credit Cash $3,060
Debit Cost of Goods Sold $3,030
Credit Inventory $3,030
Debit Cash $4,800
Credit Sales Revenue $4,800
March 28th
Debit Inventory $3,030
Credit Cash $3,030
Debit Cost of Goods Sold $2,530
Credit Inventory $2,530
Debit Cash $4,000
Credit Sales Revenue $4,000
Workings:
Cost of Goods Sold based on Moving Weighted-Average Method
Date Description Qty Unit Cost Total Cost Ending Balance
March 1st Beginning inventory 6 $500 $3,000 $3,000
March 7th Purchases 6 $500 $3,000 $6,000 ($3,000 + $3,000)
Week 1 Cost of Sales -1 $500 $500 $5,500 ($6,000 - $500)
March 14th Purchases 6 $510 $3,060 $8,560 ($5,500 + $3,060)
Week 2 Cost of Sales -8 $504 $4,032 $4,528 ($8,560 - $4,032)
March 21st Purchases 6 $510 $3,060 $7,588 ($4,528 + $3,060)
Week 3 Cost of Sales -6 $506 $3,036 $4,552 ($7,588 - $3,036)
March 28th Purchases 6 $505 $3,030 $7,582 ($4,552 + $3,030)
Week 4 Cost of Sales -5 $505 $2,525 $5,057 ($7,82 - $2,525)
Sales revenue = 20 x $800 = $16,000
Cost of goods sold = Cost of goods available – Ending inventory
= $10,093 ($15,150 - $5,057)
Gross margin for March = $5,907 ($16,000 - $10,093)
FIFO Method:
Date Description Qty Unit Cost Total Cost Ending Balance
March 1st Beginning inventory 6 $500 $3,000 $3,000
March 7th Purchases 6 $500 $3,000 $6, 000 ($3,000 + $3,000)
Week 1 Cost of Sales -1 $500 $500 $5,500 ($6,000 - $500)
March 14th Purchases 6 $510 $3,060 $8,560 ($5,500 + $3,060)
Week 2 Cost of Sales -8 $500 $4,000 $4,560 ($8,560 - $4,000)
March 21st Purchases 6 $510 $3,060 $7,620 ($4,560 + $3,060)
Week 3 Cost of Sales -6 $3,030 $4,590 ($7,620 - $3,030)
March 28th Purchases 6 $505 $3,030 $7,620 ($4,590 + $3,030)
Week Four Cost Sales -5 $510 $2,550 $5,070 ($7,620 - $2,550)
Sales revenue = 20 x $800 = $16,000
Cost of goods sold = Cost of goods available – Ending inventory
= $10,080 ($15,150 - $5,070)
Gross margin for March = $5,920 ($16,000 - $10,080)
Thus, Velentina's gross margin or profit is the difference between its sales revenue and the cost of goods sold.
Learn more about gross margin https://brainly.com/question/942181
So i have to make trial balance and im kinda confused with 'interest'. So which side did it go to? Credit or debit? It didn't state the interest as received or expense/paid. someone told me to look at the bank but hey i need more explanation T^T
Answer:
debit
explanation:
The interest on capital is on credit side of a trial balance as it is a liability from the point of view of company or enterprise and it comes in the debit side
what are the levels of ecology
Answer:
Within the discipline of ecology, researchers work at five broad levels, sometimes discretely and sometimes with overlap
Explanation:
organism, population, community, ecosystem, and biosphere.
Hope it's helps you
1. Which of the following species migrate over large distances?
Group of answer choices
a. monarch butterflies
b. wildebeests
c. caribou
d. all of the above
Answer:
I think it's either monarch butterflies or all of the above. I would do monarch butterflies, though
Explanation:
Wildebeest migrate 300 miles on a migration loop every winter.
Monarch butterflies can fly as far as 3,000 miles to reach their winter home.
Caribou can migrate up to 400 miles.
Monarch butterflies migrate the furthest.
Natural resources including trees and oil are part of which factor of
production?
O A. Land
O B. Labor
O C. Capital
O D. Scarcity
Answer:
A. Land
Explanation:
Land includes any natural resources that land creates used to produce goods and services sold for a profit. Land also includes raw materials. Trees & oil are raw materials. Trees can be used to create paper & oil can be used for fuel. This makes A. the correct answer.
Answer: a. land
Explanation:
What are the characteristics of a good theory
Answer:
The characteristics of a good theory are :-
comprehensiveness, precision and testability, parsimony, empirical validity, and both heuristic and applied value.
Explanation:
1. Testable: Theories can be supported through a series of scientific research projects or experiments.
2.Replicable: In other words, theories must also be able to be repeated by others.
3. Stable: Another characteristic of theories is that they must be stable.
4.Simple: A theory should be simple.
Based on the article, what do you think environmental racism is
Answer:
Racism based on location, area, the rules and regulations, and policies within a community
Explanation:
It should be based on how a certain person of color lives underneath their location / area and how it may affect their day to day lives.
Ex. Ghettos, slums, etc..
What the correct answer
Answer:
i think its C
Answer:
your answer is C
he wasindeed the first one
4. Scientists should avoid bias to ensure that it is a ________
experiment.
Answer: I would assume that your answer is a fair experiment.
Explanation:
Có một "tàu lạ" của nước ngoài hoạt động khảo sát dầu khí trên biển, cách bờ biển Vũng Tàu của nước ta 160 hải lý. Vận dụng những kiến thức đã học về chủ quyền lãnh thổ, biên giới quốc gia; Anh, chị cho biết “tàu lạ” này có vi phạm chủ quyền lãnh thổ của Việt nam hay không?; nếu có, theo anh chị Đảng, Nhà nước ta nên giải quyết vấn đề này như thế nào?
Answer:
Explanation:
Có nhé
give five reasons for european exploration
Answer:
There are three main reasons for European Exploration. Them being for the sake of their economy, religion and glory. They wanted to improve their economy for instance by acquiring more spices, gold, and better and faster trading routes. Also, they really believed in the need to spread their religion, Christianity.
hãy cho biết ý thức xuất phát từ đâu
Answer:
Tell me where consciousness comes from is what that means and the answer is from the mind getting concerned or deeply observing if everything is ok.
Explanation:
When vinegar and baking soda react, the mixture becomes cold to the touch and a gas and a new liquid substance are formed.
Which best describes what is occurring in the reaction?
The reaction is chemical and endothermic.
The reaction is chemical and exothermic.
The reaction is non-chemical and endothermic.
The reaction is non-chemical and exothermic
Answer:
The reaction is chemical and endothermic
divide into the simplest form
5/6÷3
what did disease mean for the Native Americans?
What is mass casulty
Answer:
A mass causality refers to an event or incident that occurs and overwhelmes the medical resources available at a moment.
such as;
[tex]{ \sf{ - \: terrorist \: action}} \\ { \sf{ - \: shooting \: massacre}}[/tex]
which of these is an accurate characteristic of American civilizations from 1200-1450?
QUESTION 9
The purpose of the DSM5 is to provide
a descriptions of disorders
b. explanations and causes of disorders
c. treatment recommendations for disorders
O d. all of these options
A set of biology exam scores are normally distributed with a mean of 60 points and a standard deviation of 6 points. Antoaneta got a score of 51 points on the exam. What proportion of exam scores are higher than Antoaneta's score? You may round your answer to four decimal places.
Answer:
0.9332 (0.93 rounded) of exam scores are higher than Antoaneta's score
Answer:
0.9332
Explanation:
khan
Marisa’s parents immigrated to the United States from India before she was born. Marisa constantly fights with her mother because she wants more freedom like the rest of her friends. However, Marisa is also not comfortable wearing as revealing clothes as many of her American friends. According to Erikson, Marisa is struggling with the ________ psychosocial crisis.
Group of answer choices
Hi! ñññññññññññññññññññññ
Answer:
hi řřřřřřřřřřřřřřřřřřř
Which of the following is the last step in creating a budget. Determine savings r debt. Identifying variable expenses. Identify income r identify fixed expenses which one the answer
Answer:
The first step in creating a budget is to identify the amount of money you have coming in.
Estimate Expenses.
Estimate Income.
Determine Savings.
Balance Budget.
Explanation:
MAY BE THIS.
For each of the following, come up with a hypothesis to explain the given fact. Explain why your hypothesis is adequate and indicate how you would tell whether the hypothesis is true. In other words, how would you test your hypothesis?
1. When we spend a lot of time looking forward to something, and expect to enjoy it, we are often disappointed.
Hypothesis:
Testing Procedure:
2. In midterm elections (those held midway through a president’s term), the president’s party usually loses seats in Congress.
Hypothesis:
Testing Procedure:
Answer:
1. Hypothesis: High expectations in a situation generate frustration.
Testing Procedure: Interview some volunteers and ask them to describe their expectations about a given situation. Reproduce the situation below the volunteers' expectations and ask them to describe the emotions they felt when living the experience below expectations.
2. Hypothesis: The president-elect's party loses voters, because of the agenda the president is following that disappoints the voters he had.
Testing Procedure: Select a group of volunteers who voted for the president-elect and ask them to explain their level of satisfaction with the current government and how likely they are to vote for the president-elect's party candidates in midterm elections.
Explanation:
In a scientific experiment, the hypothesis is an assumption that the researcher makes about what will be researched, that is, the hypothesis is something that the researcher thinks happens and that he will prove that it is true or not through texts that make up the experiment. These tests will generate data, which the researcher will evaluate and be able to interpret, generating a conclusion. This conclusion is able to show whether the researcher's hypothesis was correct or not.
the balance of payment between Vietnam and Iran
Answer:
ESTA SPEAK SPANISH?
Explanation:
PIB anual 2019 294.361M.€ 556.579M.€ 2020 PIB anual
PIB anual 2019 329.537M.$ 635.724M.$ 2020 PIB anual
PIB Per Capita 2019 3.051€ 6.684€ 2020 PIB Per Capita
PIB Per Capita 2019 3.415$ 7.635$ 2020 PIB Per Capita
vai trò của cô giáo mầm non trong việc tổ chức các hoạt động giáo dục tích hợp theo chủ đề cho trẻ ở trường mầm non.
Answer:
hi
Explanation:
Which of the following would be considered anthropogenic impacts on the natural environment?
a. air pollution
b. introduction of invasive species
c. burning of fossil fuels
d. all of the above
Answer:
D. All of the above.
Biểu diễn trong mặt phẳng dọc các loại lực tác dụng lên oto có hai cầu chủ động đang giảm tốc xuống dốc
Answer:
Biêu diên trong mât phãng doc các loai luc tác dung let oto có hai cãu chu dông dang giäm töc xuöng döc
Over the past five hundred years, how many species are known to have gone extinct?
Group of answer choices
a, 500 species
b. 750 species
c. 900 species
d. an unknown number of species
taught Frederick Douglass to read when he was a slave
Answer:
Douglass credits Hugh's wife Sophia with first teaching him the alphabet. From there, he taught himself to read and write. By the time he was hired out to work under William Freeland, he was teaching other enslaved people to read using the Bible
What the correct answer
Answer:
I'm scratching my head.
Your screenshot shows that you marked 'Wilson' as your answer, yet you are asking now for a correct answer. The correct answer *IS* 'Wilson' !!
Explanation:
explain the symbiotic relationship that exists between science and technology
Answer:
science is the study of the natural world by scientific method i.e collecting data through a systematic process.and technology is is where we apply science to create devices that can solve problems and perform different tasks.technology is literally the application of science.
I hope this helps
