You work for a wholesale firm which distributes a single product. $57, 600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted on 31 October 2020, $80 640. Purchases during the month were: 9th October, 1, 140 units at 145 each, 15th October 1,310 units at 150 each and 24th October, 620 units at 155 each. Sales during the month were 12th October, 1, 040 units at 205 and 21st October, 1,840 units at 220. The other cost besides the purchases were: Wages of staff $44,700, Premises purchased $42, 750, Administrative expenses $13, 620, Selling and marketing costs $17,890, Cost and freight for purchased inventory $3,750, Carriage outwards $4, 120 and Depreciation charges $11,250 What is sum of the operating expenditure or period cost for the month of October 2020?

You work for a wholesale firm which distributes a single product. $57, 600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted on 31 October 2020, $80 640. Purchases during the month were: 9th October, 1, 140 units at 145 each, 15th October 1,310 units at 150 each and 24th October, 620 units at 155 each. Sales during the month were 12th October, 1, 040 units at 205 and 21st October, 1,840 units at 220. The other cost besides the purchases were: Wages of staff $44,700, Premises purchased $42, 750, Administrative expenses $13, 620, Selling and marketing costs $17,890, Cost and freight for purchased inventory $3,750, Carriage outwards $4, 120 and Depreciation charges $11,250 What is sum of the operating expenditure or period cost for the month of October 2020?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

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