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Sergio [31]
3 years ago
10

The following lots of Commodity Z were available for sale during the year. Beginning inventory 7 units at $49 First purchase 18

units at $50 Second purchase 53 units at $59 Third purchase 18 units at $64 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year according to the LIFO method? a.$5,522 b.$1,447 c.$1,127 d.$1,143
Business
1 answer:
yuradex [85]3 years ago
3 0

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Beginning inventory 7 units at $49

First purchase 18 units at $50

Second purchase 53 units at $59

Third purchase 18 units at $64

The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year.

To calculate the ending inventory using the LIFO (las-in, first-out), we need to use the cost of the firsts units incorporated to inventory:

Ending inventory= 7*49 + 16*50= $1,143

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Carson Corporation stock sells for $35 per share, and you’ve decided to purchase as many shares as you possibly can. You have $5
snow_tiger [21]

Answer:

2041 shares

Explanation:

Maximum amount for investment = $ 50 000 / 70 % = $ 71428.571

maximum number of shares =  $ 71428.571 / $ 35 = 2040.812 approx 2041 shares

6 0
3 years ago
embroidered dog apparel over the Internet. Her annual revenue is​ $128,000 per​ year, the explicit costs of her business are​ $4
IceJOKER [234]

Answer:

$86,000

Explanation:

The opportunity cost is an economic concept. It is the cost of the alternative foregone. Accounting profit does not take into cognizance the alternative foregone.

It only considers the explicit cost incurred in the process of making sales or generating revenue.

As such,

Accounting profit = $128,000 - $42,000

= $86,000

7 0
3 years ago
Name any four examples of economically marginalised group​
ohaa [14]

Answer:

Here is a sample of the most common marginalized groups:

GLBT.

Senior citizens.

Racial/Cultural minorities.

Military Combat Veterans.

Persons of below average intelligence.

Hearing, visually, and Physically Challenged Persons.

Persons with a serious and Persistent Mental Illness (SPMI)

Persons with Cognitive Impairments.

6 0
3 years ago
Improperly capitalizing a repair and maintenance expense item as fixed asset will result in:____.
Fudgin [204]

Improperly capitalizing a repair and maintenance expense item as a fixed asset will result in an <u>overstatement of profit in the current year and an understatement in future years</u>.

Fixed assets seek advice from long-term tangible assets which can be used inside the operations of an enterprise. They offer long-term monetary advantages, have a useful existence of a couple of yr, and are labeled as assets, plants, and equipment on the balance sheet.

Fixed assets, additionally called lengthy-lived assets or property, plant, and the system is a term utilized in accounting for assets and belongings that can't effortlessly be transformed into cash. Fixed assets are unique from the contemporary property, which includes coins or bank accounts because the latter are liquid property.

Fixed assets are capitalized. It really is due to the fact the advantage of the asset extends past the year of buy, not like different costs, which might be length expenses benefitting handiest the duration incurred. constant assets should be recorded at a price of the acquisition

Learn more about Fixed assets here brainly.com/question/20289326

#SPJ4

5 0
2 years ago
Each unit requires 0.25 direct labor-hours and direct laborers are paid $14.00 per hour. In addition, the variable manufacturing
pshichka [43]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Each unit requires 0.25 direct labor-hours and direct laborers are paid $14.00 per hour. In addition, the variable manufacturing overhead rate is $1.60 per direct labor-hour. The fixed manufacturing overhead is $95,000 per quarter.

Direct labor per unit= 0.25*14= $3.5

Direct labor equation= 3.5*x

x= units produced

For example:

100 units

Direct labor= 3.5*100= $350

7 0
3 years ago
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