ACC 304 Week 3 Chapter 10 Homework
a. FIFO.
b. Lower-of-average-cost-or-market.
c. Average cost.
d. LIFO.
ACC 304 Week 3 Chapter 10 Homework
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ACC 304 Week 3 Homework( Chapter 10)
1) Hanson Company is constructing a building. Construction begins on February 1 and was completed on December 31. Expenditure were $ 1,800,000 on march 1, $ 1,200,000 on June 1, and $ 3,000,000 on December 31. Compute Hanson’ s weightedaverage accumulated expenditure for interest capitalization purposes.
2) Mehta Company traded a used welding machine( cost $ 9,000, accumulated depreciation $ 3,000) for office equipment