Answer:
COGS= $310
Explanation:
Giving the following information:
She bought 20 units of inventory at $11, then 26 units at $9, and finally 18 units at $14.
She sold 30 units in 2019.
<u>Under the FIFO (first-in, first-out) valuation method, the cost of goods sold is calculated using the cost of the firsts units incorporated into inventory.</u>
<u></u>
COGS= 20*11 + 10*9
COGS= $310
Answer:
is based on the concept of just-in-time.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers.
Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services from the manufacturers to the consumers.
Additionally, all businesses tend to use supply chain management to eliminate waste and maximize value for growth and development.
Hence, supply chain management is based on the concept of just-in-time (JIT) because it is a management framework that is focused on cutting manufacturing costs while increasing efficiency between suppliers and consumers through the use of a proper inventory system.
Debits and credits are used in a company’s bookkeeping or or double-entry accounting.
Debits and credits are the bookkeeping entries that balance each other. Debits means all of the money coming into an account, while credits means all of the money going out of an account. When recording a transaction, every debit entry must have a corresponding credit entry of the same amount.
A debit entry is always kept on the left side of an entry. A debit increase asset or expense accounts, and decreases liability, revenue or equity accounts.A credit is always placed on the right side of an entry. It increases liability, revenue or equity accounts and decreases asset or expense accounts.
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Answer and Explanation:
Data provided in the question
defect rate i.e. = 1.50%
the sample size = n = 200
Now
= 0.008595057
Now the 3 sigma control limits is
UCL_p = + 35p
= 0.015 + 3 (0.008595057
)
= 0.04078517
LCL_p = - 35p
= 0.015 - 3 (0.008595057
)
= 0
hence, the 3 sigma control limits are UCL 0.04078517 and LCL 0 respectively
<u>Complete question:</u>
Fairbanks Corporation purchased 400 shares of Sherman Inc. common stock as an investment in trading securities for $13,200. During the year, Sherman paid a cash dividend of $3.25 per share. At year-end, Sherman stock was selling for $34.50 per share. Prepare Fairbanks's journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment
<u>Solution:</u>
Given,
Total shares = 400
Trading securities = $13,200
Cash dividend = $3.25 per share
Sales price of stock = $34.50 per share
Note: The image attached shows the journal entries of all the transactions.
Dividend revenue is
Fair value adjustment is
The above values are entered in the journal transaction.