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What is Queen’s cost of goods available

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What is Queen’s cost of goods available 1. Keiko Company took a physical inventory at December 31, 2010 and determined that ¥3,030,000 of goods were on hand. In addition, the company had goods consigned with Chang Company that had a cost of ¥700,000. On December 29, Keiko sold and shipped f.o.b. shipping point ¥600,000 worth of inventory. These goods arrived at the buyer’s place of business on January 4, 2011. What amount should Keiko report as inventory on its December 31, 2010 statement of financial position? a. ¥3,030,000. b. ¥3,630,000. c. ¥3,730,000. d. ¥4,230,000. 2. Chang Company took a physical inventory at December 31, 2010 and determined that ¥3,750,000 of goods were on hand. Included in the count was inventory of ¥700,000 on consignment from Keiko Company. On December 30, Chang sold and shipped f.o.b. destination ¥820,000 worth of inventory. These goods arrived at the buyer’s place of business on January 2, 2011. What amount should Chang report for inventory on its December 31, 2010 statement of financial position? a. ¥3,750,000. b. ¥3,870,000. c. ¥3,170,000. d. ¥4,570,000. Use the following information for questions 3–5. The following information was available from the inventory records of Queen Company for July: Units Unit Cost Total.Cost Balance at July 1 30,000 £ 9.00 £270,000 Purchases: July 6 20,000 10.20 204,000 January 26 27,000 10.40 280,800 Sales: July 7 (25,000) July 31 (40,000) Balance at July 31 12,000 3. What is Queen’s cost of goods available for sale? a. £77,000. b. £284,800. c. £754,800. d. cannot be determined. 4. What should be the inventory reported on Queen’s July 31 statement of financial position using the average-cost inventory method (round per unit amounts to two decimal places)? a. £108,000. b. £117,600. c. £118,440. d. £126,000. 5. What should be the inventory reported on Queen’s July 31 statement of financial position using the FIFO inventory method? a. £108,000. b. £117,600. c. £124,800. d. £126,000. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

What is Queen’s cost of goods available

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