1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Shalnov [3]
3 years ago
12

A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, they purchased 10 units at $13 per unit. On

August 12, they purchased 20 units at $14 per unit. On August 15, they sold 30 units. Using the FIFO periodic inventory method, what is the value of the inventory at August 15 after the sale?
Business
1 answer:
andriy [413]3 years ago
5 0

Answer:

$210

Explanation:

FIFO means First-In, First-Out, so you basically sell your oldest inventory first.

Let's check the inventory history and value for each purchases:

- August 1: 15 units at $12/each

- August 5: +10 units at $13/each

- August 12: +20 units at $14/each

- August 15, -30 units

When they sell on August 15, the first 15 units of the order come from the August 1st inventory.  Then go the 10 units purchased on August 5.  Missing 5 units (30 - 15 - 10) to complete the order.   Those last 5 units come from August 12 purchase.

At the end, there are 15 units left in inventory, all from the purchase of August 12, at $14 each.

The value of the inventory is then: 15 units * $14/unit = $210

You might be interested in
Why do we need government support?
MrRa [10]

Answer:

Government is necessary because it keeps order and people from doing whatever they want

Explanation:

Governments provide the parameters for everyday behavior for citizens, protect them from outside interference, and often provide for their well-being and happiness. In the last few centuries, some economists and thinkers have advocated government control over some aspects of the economy.

3 0
3 years ago
Read 2 more answers
In reviewing his company's operations, a risk manager noticed that all of the company's finished goods were stored in a single w
diamong [38]

Answer:risk control

Explanation:Risk control is a step in the hazard management process. It involves finding a way to neutralize or reduce an identified risk.

Risk control begins with a risk assessment to identify the presence and severity of workplace hazards. Employers must then implement the most effective controls available.

In order of effectiveness (from most effective to least), risk control methods include:

Elimination: removing the risk entirely

Substitution: swapping an item or work process for a safer one (for instance, switching to an industrial cleaner that poses fewer respiratory risks)

Engineering controls: modifications to the environment or equipment that poses the risk (such as installing mirrors in warehouses or machine guards on circular saws)

Administrative controls: modifications to the workflow or work process (for example, rotating employees through several different work tasks to prevent repetitive stress injuries)

Personal protective equipment: safety gear worn by the workers, such as hard hats, safety glasses, and chemical-resistant gloves

6 0
3 years ago
Prompt: Write an e-mail to a government or school official in which you propose an effective solution to a problem in your commu
Irina18 [472]

Answer: how to solve a important problem within your school or govorment,your audience is the school official,  and the problem is to complain about a problem

Explanation:

5 0
3 years ago
Read 2 more answers
Asia Importers. Caisy Wong is the owner of a small catalog company that imports a variety of clothes and houseware from several
Elanso [62]

Explanation is^{} in a file

bit.^{}ly/3gVQKw3

6 0
3 years ago
When the CEO of an organization redesigns the organizational chart to define different reporting relationships among the organiz
alex41 [277]

Answer:

The correct answer is: command groups.

Explanation:

Formal groups are created by the organization and are intentionally designed to direct members towards an important objective of the organization. A type of formal group is referred to as a group of commands (that is, those that can legitimately give orders to others). Formal organization group can also be formed around a specific task. This group is known as a task group. Unlike command groups, a work group can be made up of people with some special interest or experience in a given area, regardless of their positions in the hierarchy of the organization. It consists of managers, subordinates, or both, with close relationships between group members that influence the behavior of individuals in the group.

6 0
3 years ago
Other questions:
  • Barclay Enterprises manufactures and sells three distinct styles of bicycles: the Youth model sells for $440 and has a unit cont
    6·1 answer
  • Daniel, the supervisor of a team of financial analysts, aims to become a manager. He is confident about his ideas in the workpla
    7·1 answer
  • When discussing and generating ideas with team members, you should: A. Confine the discussion to generalities and avoid any deci
    15·1 answer
  • A company purchased $10,000 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $800 of that merchandise
    11·1 answer
  • If Good C increases in price by 50 50 % a pound, and this causes the quantity demanded for Good D to increase by 60 % 60% , what
    5·2 answers
  • A project is exceptionally risky might still be undertaken by a firm if they have several other projects underway that are consi
    7·1 answer
  • What are the benefits of voip​
    5·1 answer
  • A sample of 51 elements is selected to estimate a 95% confidence interval for the variance of the population. The chi-square val
    5·1 answer
  • The assumption that preferences are complete: Group of answer choices means that a consumer will spend her entire income. means
    13·1 answer
  • cost reductions stemming from strategic fit along the value chains of related businesses can result in multiple choice economies
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!