Answer: $210
Explanation:
When using the First In First Out (FIFO) method of Inventory Valuation, the company sells the goods that it acquired earliest first and then sells the goods acquired later last.
This company sold 30 units on August 15.
That would mean that using FIFO, the company sold all of its August opening inventory of 15 units. It also sold all 10 units purchased on August 5th and then sold 5 units from the August 12th purchase of 20 units.
= 15 + 10 + 5
= 30 units
This means that the only units left are;
= 20 - 5
= 15 units of the August 12th purchase are left.
Units cost $14 each.
Value of Inventory after sale = 15 units * 14
= $210
Answer:
Book value= $33,008
Explanation:
Giving the following information:
On January 1, 2016:
Purchase cost= $50,710.
Residual value= $4,700
Wasson uses the units-of-production depreciation method.
The vehicle will be driven 107,000 miles.
2016= 10,700 miles
2017= 18,700
First, we need to calculate the depreciation of 2016 and 2017, using the following formula:
Annual depreciation= [(original cost - salvage value)/useful life of miles]*miles
2016= [(50,710 - 4,700)/107,000]*10,700= $4,601
207= 0.43*18,700= $8,401
Book value= depreciable value - accumulated depreciation
Book value= 46,010 - (4,601 + 8,401)= $33,008
Never gonna give you up
Never gonna let you down
Never gonna run around and desert you
Never gonna make you cry
Never gonna say goodbye
Never gonna tell a lie and hurt you
Answer:
people face trade offs
Explanation:
Because wants are unlimited and the resources used to satisfy those wants are limited, people have to face trade offs. these trades off are opportunity costs.
Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.
In this question, the wants are a cell phone or an amplifier. the resource is $200. If the amplifier is bought, the cell phone cannot be purchased. This is an example of a trade off
