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
egoroff_w [7]
3 years ago
6

A company reports the following beginning Inventory and two purchases for the month of January. On January 26, the company sells

360 units. Ending Inventory at January 31 totals 130 units.
Units Unit Cost
Beginning inventory on January 1 320 $3.10
Purchase on January 9 70 3.30
Purchase on January 25 100 3.40
Required:
Assume the Perpetual Inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned based on LIFO.
Business
1 answer:
Korvikt [17]3 years ago
8 0

Answer:

$439

Explanation:

Perpetual Inventory method calculates the value of goods held after each transaction.

LIFO stands for First In First Out.

<u>Calculation of cost assigned to ending Inventory - FIFO</u>

30 units × $3.30  =   $99

100 units × $3.40 = $340

Total                     = $439

You might be interested in
Emmitt had the following final balances after the first year of operations: assets, $35,100; stockholders' equity, $13,500; divi
irina1246 [14]

Answer:

Liabilities = 331,100

Explanation:

Using the accounting equation we can solve for liabilities

assets = liabilities + equity

<u>We have to solve for Equity first:</u>

SE 13,500

net income 10,000

dividends (3,500)

Total Equity 20,000

assets 351,100

Next we post this know value on the formula and solve for liab:

Assets = Liablities + Equity

351,100 = Liab + 20,000

351,100 - 20,000 = Liab

Liabilities = 331,100

4 0
4 years ago
The intangible barrier known as ________________ limits the promotion of women or minorities to the highest positions in an orga
Aleksandr-060686 [28]
<span>This intangible barrier is known as a glass ceiling. One of the reasons why this term exists is because minorities and women do not hold high positions in most corporations. Not only that but there are not a lot of minorities or women in corporate environments in general compared to white men.</span>
3 0
3 years ago
Read 2 more answers
Help me, I need turn in today
erma4kov [3.2K]

Answer:

no god luck failing

Explanation:

6 0
3 years ago
The following data concerns a proposed equipment purchase: Cost$144,000 Salvage value$4,000 Estimated useful life 4years Annual
ycow [4]

Answer: $74,000

Explanation:

The Average Investment refers to the average cash invested into a particular project and is useful in calculating the rate of return. The simple formula is to add the beginning value of the asset to its ending value and divide this by 2.

The ending value in this case would be the salvage value;

Average Investment = \frac{Beginning Cost of Machine + Salvage Value}{2}

= \frac{144,000 + 4,000}{2}

= $74,000

8 0
3 years ago
Which method of project selection gives consideration to the time value of money in a capital budgeting decision?
alexandr1967 [171]

Answer:

D. Discounted cash flows method.

Explanation:

The discounted cash flow method is the method in which it discounted all the cash flows to their their present value

Also it provides the consideration with respect to the times value of money while taking decision related to capital budgeting

hence, the correct option is D

And all the other options are incorrect

7 0
3 years ago
Other questions:
  • Brett has almond​ orchards, but he is sick of almonds and prefers to eat walnuts instead. The owner of the walnut orchard next d
    9·1 answer
  • Darian has a gourmet cupcake business and needs a website to compete with the other bakeries in his area. He has a Google My Bus
    8·1 answer
  • Which of the following job applicant screening devices may be used by an employer, where the employer can demonstrate that the i
    11·1 answer
  • Maria, a banking executive, gives a job candidate a detailed interview​ and a walking tour of the facility. By sharing her time
    12·1 answer
  • On July 23 of the current year, Dakota Mining Co. pays $6,492,240 for land estimated to contain 9,144,000 tons of recoverable or
    5·1 answer
  • Amazon creates many utilities for its customers, but perhaps the most valuable utility for consumers is ________, the utility cr
    7·1 answer
  • Joann finances her purchase of a $250,000 house with a 7/23 balloon payment mortgage. She pays 30 percent down on her home, and
    7·1 answer
  • Bovine Company, a wholesale distributor of DVDs, has been experiencing losses for some time, as shown by its most recent monthly
    8·1 answer
  • For most people, experiencing stress is
    15·2 answers
  • Sheffield Corp. had accounts receivable of $250,000 on January 1, 2019. The only transactions that affected accounts receivable
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!