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
In 2007, the economy slipped in a recession that many called the worst since the Great Depression. This caused people to experie
Elis [28]

Answer:

an increase in equilibrium price and an indeterminate effect on equilibrium quantity.

Explanation:

An inferior good is a good whose demand increases when income falls and reduces when income rises.

If ramen is an inferior good, when income falls its demand would increase. This would lead to a rise in quantity and price.

An increase in the price of wheat would increase the cost of production of ramen. As a result, the supply of ramen would fall. Price would increase and supply would fall.

The combined effect would be an increase in equilibrium price but an indeterminate effect on equilibrium quantity.

I hope my answer helps you

3 0
3 years ago
Which 3 data points can be imported into the app transactions tab in quickbooks online?.
Dmitry [639]

Answer: Description, Date, and Amount. 

5 0
1 year ago
Morgan company issues 9%, 20-year bonds with a par value of $750,000 that pay interest semi-annually. the current market rate is
Gemiola [76]
The amount of interest owed to the bondholders for each payment is $33,750. The amount interest to the bondholders for each payment should be calculated with this formula: Interest Yield Rate x Face Value of Bond x Time (9% x $750,000 x 1/2). The market interest rate of 8% has no effect on the interest payment calculation but it impacted the bond market value.
6 0
3 years ago
You order a $20 sweatshirt online for a Father’s Day gift. The shipping charge is $10. You can get free shipping if your order t
Yakvenalex [24]

Answer:

Incentive

Explanation:

Incentive -

It refers to the peice or work or activity that enables you to perform the work , is referred to as incentive .

It is a type of motivation or a bait .

Hence , from the given scenario of the question ,

Ordering the  bobble head dolls , which is completely not required is a type of incentive , as it will make the shipping free of cost .

Hence , the correct answer is incentive .

3 0
2 years ago
PLEASE HELP! I need to know what to put in the blank
Alborosie

Available Options are:

A) comprehension

B) conviction

C) ordering

D) reordering

E) awareness-building

Answer:

Option E. Awareness-building

Explanation:

The reason is that the main purpose of the advertisement and the publicity of the product is to increase the interest of the customer by portraying the product as a masterpiece. Furthermore, under the AIDA Model, it is the second stage which is:

Stage 1: A is for Attention

Stage 2: I is for Interest Development

Stage 3: D is for Desire Generation

Stage 4: A is Action (Purchasing the product)

So advertising is basically the second stage.

6 0
3 years ago
Other questions:
  • if Lei bikes to and from work everyday in order to train for the Olympics what is important to Lei? hey her A.job outlook B. her
    14·2 answers
  • The money spent on domestically produced final goods and services: Group of answer choices is equal to exports minus imports. is
    10·1 answer
  • All new employees must first complete a six-week training program.
    11·1 answer
  • The following information is available for Blossom Company for the year ended December 31, 2020. Beginning cash balance $ 47,610
    14·1 answer
  • Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $54,000 and $2,400, r
    6·2 answers
  • Two eastern European countries formed a free trade agreement. As a result, one of the countries that used to produce its own pla
    12·1 answer
  • A smaller business with variable cash flow is looking to establish a pension plan for its 50 employees. It wants a plan that all
    11·2 answers
  • In the Keynesian-cross model, fiscal policy has a multiplied effect on income because fiscal policy: changes income, which chang
    14·2 answers
  • If net sales for the current year were $612,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
    5·1 answer
  • Carla Vista Company has the following information available for September 2020.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!