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Nastasia [14]
3 years ago
13

In its first month of operations, Novak Company made three purchases of merchandise in the following sequence: (1) 190 units at

$5, (2) 300 units at $7, and (3) 395 units at $9. Assuming there are 250 units on hand. Compute the cost of the ending inventory under the FIFO method and the LIFO method. Novak uses a periodic inventory system
Business
1 answer:
NikAS [45]3 years ago
7 0

Answer:

Instructios are below.

Explanation:

Giving the following information:

Purchases:

190 units at $5

300 units at $7

395 units at $9

Assuming there are 250 units on hand

1) FIFO (first-in, first out). Under the FIFO method, the ending inventory cost is calculated using the cost of the last units incorporated.

Ending inventory= 250*9= $2,250

2) LIFO (last-in, first-out). Under LIFO method, the ending inventory cost is calculated using the cost of the firsts units incorporated.

Ending inventory= 190*5 + 60*7= $1,370

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to learn the lean manufacturing system pioneered by Toyota

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The main reason for this strategic alliance was in order for General Motors to learn the lean manufacturing system pioneered by Toyota. The lean manufacturing system is a methodology derived from Toyota's 1930 operating model "The Toyota Way" which focuses on minimizing waste within manufacturing systems while at the same time being able to maximize productivity. This provides a great benefit to any manufacturing company, hence why General Motors was interested.

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3 years ago
Assume that a country with an open economy has a fixed exchange-rate system and that its currency is currently overvalued in the
olasank [31]

Answer: b. The quantity of the country's currency supplied exceeds the quantity demanded.

Explanation:

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2 years ago
The journal entry to record the use of utilities in a factory could include which two of the following: (You may select more tha
evablogger [386]

Answer:

The correct options are:

A. Debit to Factory Overhead

D. Credit to Factory Utilities Payable

Explanation:

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However, the corresponding credit would be in the factory utilities payable as an obligation awaiting payment to be made to  the supplier of  the service being enjoyed by the factory in order to run on daily basis

6 0
3 years ago
Read 2 more answers
Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. What would be the futur
inysia [295]

Answer:

$4,000

Explanation:

P- percent

r-rate

t-time

P: 10000

R:8 but u have to move it two spots so it would be 0.08

T:5 years

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That's how I do it. I hope it helps!

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2 years ago
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Answer:

The correct answer to the following question will be Option D.

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The other choices have no relation to the given circumstance. So choice D is the correct answer to the above.

7 0
3 years ago
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