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
morpeh [17]
1 year ago
6

dunder mifflin has the following data related to its inventory during october 20x1. inventory on 10/1 was 400 units at $2.10 per

unit. there was a purchase on 10/7 of 1,400 units at $2.20 a unit. a second purchase on 10/16 was 280 units at $2.25. ending inventory on 10/31 consisted of 520 units. what is the value assigned to ending inventory if dunder mifflin uses lifo method (periodic system)? do not enter any punctuation (i.e. no dollar sign, no commas). edit insert
Business
1 answer:
den301095 [7]1 year ago
5 0

The value assigned to ending inventory if dander Mifflin uses LIFO method is $1092

The value assigned to ending inventory if dander Mifflin uses FIFO method is $1170

FIFO

FIFO method assumes that the inventory bought in first, will be the first to the sold to customers.

Ending Inventory =  520 units × $2.25

                            = $1170

LIFO

LIFO methods assumes that the inventory bought in last will be the first to be sold to the customers.

Ending Inventory = 520 units× 2.10

                            = $1092

To know more about FIFO method, refer:

brainly.com/question/17924678

#SPJ4

You might be interested in
Write a brief story about a young person shopping at a local mall that incorporates all benefits of marketing ?
Anvisha [2.4K]

Explanation:

Marketing can be understood as the strategic development of action plans capable of building a strong relationship between the client and the company, and generating value for a brand.

Therefore, a young person shopping at a local mall that incorporates all the benefits of marketing will be responsible for bringing these advantages to a company and putting it in a successful position.

Suppose the young man had a need to buy running shoes, so he went to the mall to look for options to meet his set of needs including benefits and price. As he strolled through the mall he noticed a store whose sports shoes ads he had seen on TV, so he felt confident when he entered the store, saw images of an advertising campaign that a famous sportsman wore branded sneakers, felt identification with the brand and then was well attended by the sales team, who explained all the benefits of the product and even gave a discount to buy through the online store.

Satisfied with the purchase and service, the customer started to follow the social media of the brand in question, bought another sneaker through the online store and started to recommend the brand in their social media.

We can see that through marketing efforts, the brand is able to create a favorable shopping experience that helps to retain customers and attract new ones, so it positions itself in the market in a competitive and profitable way.

6 0
3 years ago
Larue buys an ipod for $150 and a new laptop for $1,200, and signs a one-year employment contract for a $4,800 monthly salary to
docker41 [41]

As an employee, Larue will be covered by the statute of frauds for the employment contract and the laptop purchase only.

<h3>What is a statute of fraud?</h3>

This statute is a concept that maintains that some types of contracts need to be executed in writing.

This statutse are used for contracts for the sale of land, agreements involving higher worth of goods, contracts lasting one year etc

In conclusion, in this case, Larue will be covered by the statute of frauds for the employment contract and the laptop purchase only.

Read more about statute of fraud

<em>brainly.com/question/14854791</em>

5 0
2 years ago
McGuire Company acquired 100 percent of the voting common shares of Able Corporation by issuing bonds with a par value and fair
-Dominant- [34]

Answer: $650,000

Explanation:

Given that,

Fair and par value of issued bonds = $150,000

Prior acquisition, McGuire reported

Total assets = $500,000

Liabilities = $280,000

Stockholders’ equity = $220,000

At that date, Able reported

Total assets = $400,000

Liabilities = $250,000

Stockholders’ equity = $150,000

Account payable to McGuire = $20,000

Total assets reported by McGuire after acquisition:

= Total assets + Fair value of investment

= $500,000 + $150,000

= $650,000

4 0
3 years ago
Happy Helpers Maid Service is calculating its standard direct labor rate. The direct labor rate is $19 per hour. Happy Helpers i
marshall27 [118]

Answer:

$24.28

Explanation:

Direct labor rate = $19    Payroll tax expense = 12%  Costs for sick minus days = $3

112% of $ 19 = $21.28

Fringe benefits = $3

Total= 21.28+3 = $24.28

7 0
3 years ago
Rob, Bill, and Steve form Big Company. Rob performs $45,000 of services for his 45 shares of the company. Bill transferred prope
Mandarinka [93]

Answer:

Rob and Bill.

Explanation:

6 0
3 years ago
Other questions:
  • Cyclical unemployment is BEST described as unemployment arising from A) the elimination of jobs as a result of technological cha
    11·1 answer
  • Wehrs Corporation has received a request for a special order of 9,700 units of product K19 for $47.20 each. The normal selling p
    5·1 answer
  • Roosevelt, the Clayton Antitrust Act, and the Federal Trade Commission kept unions under control. True False
    9·1 answer
  • Luxury items in a budget come from _____. A. an income B. a deficit C. fixed expenses D. savings
    6·2 answers
  • How can you make sure you use the appropriate etiquette while being aware of : the organizational structure, values within, meth
    5·1 answer
  • A company's planned activity level for next year is expected to be 100,000 machine hours.At this level of activity, the company
    15·1 answer
  • Suppose Kim purchases a new personal computer produced in China for $ 2,800. What is the effect on the components of GDP and GDP
    5·1 answer
  • How can you describe the business in no more than 2 sentences?
    15·1 answer
  • 25 point multiple choice
    14·1 answer
  • What are the 3 Levels of Management?:​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!