Samuelson and Messenger (SAM) began 2021 with 360 units of its one product. These units were purchased near the end of 2020 for $20 each. During the month of January, 180 units were purchased on January 8 for $23 each and another 360 units were purchased on January 19 for $25 each. Sales of 170 units and 270 units were made on January 10 and January 25, respectively. There were 460 units on hand at the end of the month. SAM uses a periodic inventory system. Required: 1. Calculate ending inventory and cost of goods sold for January using FIFO. 2. Calculate ending inventory and cost of goods sold for January using average cost.

Will you use single-entry bookkeeping or double-entry bookkeeping? explain why.

Balance sheet the assets of dallas & associates consist entirely of current assets and net plant and equipment. the firm has total assets of $2 5 million and net plant and equipment equals $2 million. it has notes payable of $150,000, long-term debt of $750,000, and total common equity of $1 5 million. the firm does have accounts payable and accruals on its balance sheet. the firm only finances with debt and common equity, so it has no preferred stock on its balance sheet. a. what is the company's total debt? b. what is the amount of total liabilities and equity that appears on the firm's balance sheet? c. what is the balance of current assets on the firm's balance sheet? d. what is the balance of current liabilities on the firm's balance sheet? e. what is the amount of accounts payable and accruals on its balance sheet? [hint: consider this as a single line item on the firm's balance sheet.] f. what is the firm's net working capital? g. what is the firm's net operating working capital? h. what is the explanation for the difference in your answers to parts f and g?

Dakota products has a production budget as follows: may, 16,000 units; june, 19,000 units; and july, 24,000 units. each unit requires 3 pounds of raw material and 2 direct labor hours. dakota desires to keep an inventory of 10% of the next month’s requirements on hand. on may, 1 there were 4,800 pounds of raw material in inventory. direct labor hours required in may would be: