Answer:
C
Explanation:
The answer is c Have a look at the procedure ..
Answer:
The correct answer is option B.
Explanation:
The Worthingtons have a motor home valued at $165,000.
Their car is worth $32,000.
They have investments worth $200,000.
Their savings is worth $20,000.
They have medical bills worth $1,300.
Their credit card balance is $3000.
Their net worth will be
= Assets - Liabilities
= $(165,000 + $32,000 + $200,000 + $20,000) - $(1,300 + 3000)
= $417,000 - $4,300
= $412,700
Answer:
Date Units Unit Cost Unit Selling Price
July 1 Beginning Inventory 50 $ 10
July 13 Purchase 250 13
July 25 Sold (100 ) $ 15
July 31 Ending Inventory 200
Cost of Goods Available for sale= 250 units at $ 13+ 50 units at $ 10
= 3250 + 500= $3750
FIFO Ending Inventory $ 2600
200 units at $ 13= $ 2600
Sales 100At $ 15= $1500
FIFO Cost Of Goods Sold $ 1150
50 units at $ 10= $ 500
50 units at $ 13= $ 650
LIFO Ending Inventory $ 2450
50 units at $ 10= $ 500
150 units at $ 13= $ 1950
Sales 100 at $ 15= $1500
LIFO Cost Of Goods Sold $ 1150= Cost of Goods Available for Sale Less LIFO Ending Inventory = 3750- 2450= $ 1300
100 units at $ 13= $ 1300
Weighted Average Ending Inventory 12.5 * 200= $ 2500
Total Cost/ total units= 3750/300= 12.5
Weighted Average Cost Of Goods Sold $ 1150= Cost of Goods Available for Sale Less Weighted Average Ending Inventory = 3750- 2500= $ 1250
Weighted Gross Profit= Sales Less Weighted Cost Of Goods Sold= $ 1500- $ 1250= $ 250
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