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# Calculating the Cost of Ending Inventory Sunset Surfwear sells wet suits. On January 2

ISBN: 9780078688294 416

## Solution for problem 25-4 Chapter 25

Accounting: First Year Course | 1st Edition

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Problem 25-4

Calculating the Cost of Ending Inventory Sunset Surfwear sells wet suits. On January 2 there were 21 wet suits at a total cost of \$4,809 in inventory. Date Description Wet Suits Cost Total Jan. 2 Beginning inventory 21 \$229 \$ 4,809 Jan. 3 Purchase 10 235 2,350 Mar. 17 Purchase 6 238 1,428 July 27 Purchase 12 240 2,880 Sept. 27 Purchase 10 241 2,410 Nov. 29 Purchase 6 244 1,464 Total 65 \$15,341 At the end of the year, there were 17 wet suits in ending inventory. Of these, 1 was purchased on July 27, 10 were purchased on September 27, and 6 were purchased on November 29. Instructions Assign a cost to the ending inventory using the following: a. the specific identification method b. the FIFO method c. the LIFO method d. the weighted average cost method

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Step 1 of 3

Subjective measures in performance measurement are measures where judgement is involved If you only care about work outcomes then you set up a quantitative measurement Either made the sale or they didn't If you care about how well someone did it, you need to look at quality - subjective measures Management is about taking the performance score of someone and communicating with them to improve performance Can't do problems Ability deficiencies Won't do problems Motivational in nature Training is only the answer if it’s a can't do issue You have to terminate if you can't fix the problem Evaluation Accuracy Subjective ratings are the most common because they are the most comprehensive Primacy effect - when first impression drives the rest of the performance rat

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##### ISBN: 9780078688294

The answer to “Calculating the Cost of Ending Inventory Sunset Surfwear sells wet suits. On January 2 there were 21 wet suits at a total cost of \$4,809 in inventory. Date Description Wet Suits Cost Total Jan. 2 Beginning inventory 21 \$229 \$ 4,809 Jan. 3 Purchase 10 235 2,350 Mar. 17 Purchase 6 238 1,428 July 27 Purchase 12 240 2,880 Sept. 27 Purchase 10 241 2,410 Nov. 29 Purchase 6 244 1,464 Total 65 \$15,341 At the end of the year, there were 17 wet suits in ending inventory. Of these, 1 was purchased on July 27, 10 were purchased on September 27, and 6 were purchased on November 29. Instructions Assign a cost to the ending inventory using the following: a. the specific identification method b. the FIFO method c. the LIFO method d. the weighted average cost method” is broken down into a number of easy to follow steps, and 139 words. Since the solution to 25-4 from 25 chapter was answered, more than 345 students have viewed the full step-by-step answer. The full step-by-step solution to problem: 25-4 from chapter: 25 was answered by , our top Business solution expert on 03/14/18, 05:31PM. Accounting: First Year Course was written by and is associated to the ISBN: 9780078688294. This textbook survival guide was created for the textbook: Accounting: First Year Course, edition: 1. This full solution covers the following key subjects: . This expansive textbook survival guide covers 29 chapters, and 429 solutions.

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Calculating the Cost of Ending Inventory Sunset Surfwear sells wet suits. On January 2