篩選結(jié)果 共找出57題

A wholesaler had opening inventory of 300 units of product Emm valued at $25 per unit at the beginning of January. The following receipts and sales were recorded during January.

Date????????????????????????? ?2 Jan????????????????? ? ?12 Jan??????????????????21 Jan???????????????????? 29 Jan

???????????????????????????????????????????????????????????????? 400

Issues?????????????????????????250????????????????????????????????????????????????????? 200?????????????????????????? ?75

The purchase cost of receipts was $25.75 per unit. Using a weighted average method of valuation, calculate the value of closing inventory at the end of January.

A

$11,550

B

$4,492

C

$4,192

D

$9,550

The following represent the materials transactions for a company for the month of December 20X6:$000sMaterials purchases 176Issued to production 165Materials written off 4Returned to stores 9Returned to suppliers 8The material inventory at 1 December 20X6 was $15,000.What is the closing balance on the materials inventory account at 31 December 20X6?

A

$5,000

B

$16,000

C

$23,000

D

$31,000

Which of the following statements is correct?

A

A stores ledger account will be updated from a goods received note only

B

A stores requisition will only detail the type of product required by a customer

C

The term'lead time' is best used to describe the time between receiving an order and paying for it

D

To make an issue from stores authorisation should be required

What is the correct description of perpetual inventory?

A

The counting and valuing of selected items on a rotating basis

B

The recording, as they occur, of receipts, issues and the resulting balances of individual items of inventory

C

The recording of inventory that is constantly changing

D

The counting and valuing inventory on a regular (e.g. weekly) basis

What would be the double entry for an issue of indirect production materials?

A

Dr Materials control account Cr Finished goods control account

B

Dr Production overhead control a/c Cr Materials control account

C

Dr Work-in-progress control account?Cr Production overhead control a/c

D

Dr Work-in-progress control account Cr Materials control account

Which of the following will be completed by a production department requiring new materials to be obtained from suppliers?

A

A purchase order

B

A delivery note

C

A goods requisition note

D

A goods received note

Which of the following procedures are carried out to minimise losses from inventory?(i) use of standard costs for purchases(ii) restricted access to stores(iii) regular stocktaking

A

(i) and (ii)

B

(ii) and (iii)

C

(ii) only

D

All of them

Appleby buys and sells inventory during the month of August as follows:

Opening inventory???????????????????????????????????????????????????????????????????100 units?????????????????????????$2.52/unit

4 August??????????????????????????????????????????????? Sales?????????????????????????20 units?

8 August??????????????????????????????????????????? Purchases???????????????????? 140 units??????????????????????? ?$2.56/unit

10 August???????????????????????????????????????????? Sales???????????????????????? ?90 units?

18 August????????????????????????????????????????? Purchases????????????????? ? 200 units??????????????????????? ?$2.78/unit

20 August????????????????????????????????????????? ?Sales????????????????????????? 180 units?

The periodic weighted average for the month is calculated as follows:

Total value of inventory (opening inventory plus purchase costs during the month) divided by total units (opening inventory plus purchase costs during the month).Which of the following statements is true?

A

Closing inventory is $19.50 higher when using the FIFO method instead of the periodic weighted average.

B

Closing inventory is $19.50 lower when using the FIFO method instead of the periodic weighted average.

C

Closing inventory is $17.50 higher when using the FIFO method instead of the periodic weighted average.

D

Closing inventory is $17.50 lower when using the FIFO method instead of the periodic weighted average.

In the year ended 31 August 20X4, Aplus; records show closing inventory of 1,000 units compared to 950 units of opening inventory. Which of the following statements is true assuming that prices have fallen throughout the year?

A

Closing inventory and profit are higher using FIFO rather than AVCO

B

Closing inventory and profit are lower using FIFO rather than AVCO

C

Closing inventory is higher and profit lower using FIFO rather than AVCO

D

Closing inventory is lower and profit higher using FIFO rather than AVCO

?Inventory movements for product X during the last quarter were as follows:

?January??????????????????????????????????Purchases??????????????? ????????????? 10 items at $19.80 each

?February?????????????????????????????????Sales????????????????????????????????????? 10 items at $30 each

?March???????????????????????????????????? Purchases?????????????????????????????? 20 items at $24.50

?????????????????????????????????????????????? ?Sales???????????????????????????????????????5 items at $30 each

Opening inventory at 1 January was 6 items valued at $15 each.

What would the Gross profit be for the quarter using the weighted average cost method?

A

$135.75

B

$155.00

C

$174.00

D

$483.00