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Maru [420]
1 year ago
7

Pine Creek Company completed 200,000 units during the year at a cost of $3,000,000. The beginning finished goods inventory was 2

5,000 units at $310,000. Determine the cost of goods sold for 210,000 units, assuming a FIFO cost flow. $fill in the blank 1
Business
1 answer:
solniwko [45]1 year ago
3 0

The cost of goods sold for 210,000 units using a FIFO cost flow for Pine Creek Company during the year is $3,085,000.

<h3>What is FIFO?</h3>

FIFO means First-in, First-out.

The FIFO cost flow method is an accounting technique to determine the cost of goods sold and ending inventory based on the assumption that goods produced first are the first to be sold.

The FIFO method is the opposite of the Last-in, First-out (LIFO) method.

<h3>Data and Calculations:</h3>

Number of units produced = 200,000 units

Cost of production = $3 million

Unit cost of production = $15 ($3,000,000/200,000)

Beginning finished goods inventory = 25,000 units

Cost of Beginning inventory = $310,000

Cost of goods sold = $3,085,000 ($310,000 + $15 x 185,000)

Thus, the cost of goods sold for 210,000 units using a FIFO cost flow for Pine Creek Company during the year is $3,085,000.

Learn more about the FIFO Cost Flow Method at brainly.com/question/19167666

#SPJ1

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Answer:

a.Georgeland has an absolute but not a comparative advantage in producing clothing.

Explanation:

A country has a comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.

A person has an absolute advantage in production if it produces more quantities of the good when compared with other countries.

Georgeland produces more quantities of both food and clothes when compared to Alland, so it has absolute advantage in both activities .

The opportunity cost of georgeland in producing clothes = 36 / 18=2

The opportunity cost of georgeland producing food = 18 / 36 = 0.5

For Alland,

the opportunity cost of producing clothes = 32 / 16= 2

the opportunity cost of producing food = 16 / 32 = 0.5

Neither countries don't have a comparative advantage in the production of either clothes of food bedside they have the same opportunity costs in both activities.

I hope my answer helps you

7 0
3 years ago
On September 18, 2019, Rose Company purchased 11,800 shares (14%) of Wozniak, Inc. stock for $42 per share. The market value of
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Answer:

24

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Why are some economists concerned about the proliferation of regional trade agreements? regional trade agreements terms can conf
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Here are several reasons why economists are concerned about the <span>proliferation of regional trade agreements:
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"icrosoft announced a 2 for 1 stock split. Before the split they had 5.4b shares outstanding and par value was $0.0000125. Befor
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Answer: Balance before Split - $67,500

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After the split the balance in Common Stock is

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8 0
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Commodity futures contracts can be bought and sold on the open market for which reason
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