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NISA [10]
3 years ago
8

Periodic Inventory by Three Methods The beginning inventory for Dunne Co. and data on purchases and sales for a three-month peri

od are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 25 $1,200 $30,000 8 Purchase 75 1,240 93,000 11 Sale 40 2,000 80,000 30 Sale 30 2,000 60,000 May 8 Purchase 60 1,260 75,600 10 Sale 50 2,000 100,000 19 Sale 20 2,000 40,000 28 Purchase 80 1,260 100,800 June 5 Sale 40 2,250 90,000 16 Sale 25 2,250 56,250 21 Purchase 35 1,264 44,240 28 Sale 44 2,250 99,000
Required: 1.

Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system.
Business
1 answer:
shusha [124]3 years ago
6 0

Answer:

Merchandise inventory = $32,864

Cost of merchandise sold = $310,776

Explanation:

As per the data given in the question,

Merchandise inventory = Balance of purchases on 21 April

= 26 units × $1,264 per unit

= $32,864

Calculating the ending inventory :

Details units

Ending inventory = beginning inventory + Purchase - Sale

Beginning inventory = 25 units

Add : Purchase made on

April 8  = 75 units

May 8 = 60 units

may 28 = 80 units

June 21 = 35 units

Total units for sale = 275 units

Less : Units sold on

April 11 = 40 units

April 30 = 30 units

May 10 = 50 units

May 19 = 20  units

June 5 = 40 units

June 16 = 25 units

June 28 = 44 units

Ending Inventory in units = 26 units

Cost of merchandise sold =Merchandise available for sale - (Merchandise inventory, June 30, 2016)

=$343,640 - $32,864

= $310,776

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Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $8
Zarrin [17]

Answer:

$34,590,000

Explanation:

Kenny incorporation is looking at setting up a new manufacturing plant in South park

The company purchased some lands six years ago $8.4 million

The land will net $11.2 million if sold today

The plant will cost $22.4 million to build

The site requires $990,000 worth of grading before construction

Therefore the proper cash flow can be calculated as follows

= opportunity costs + costs + upgradation

= $11,200,000 + $22,400,000 + $990,000

= $34,590,000

Hence the proper cash flow is $34,590,000

6 0
3 years ago
Agent joh rogers is planning a formal marketing/sales event and has decided to place an adbertisment in the locla paper. what di
Nina [5.8K]

If Agent John Rogers has decided to run an ad in the neighborhood paper in advertisement with a formal marketing/sales event. Then he must specify that attendees without enrollment obligations may contact 555-555-1234 TTY to request accommodations for those with special needs at sales sessions.

The strategies and actions utilized in advertising are those that aim to draw attention to certain goods, services, viewpoints, or causes with the intention of influencing the public to act in a particular way. The majority of advertising promotes a product that is available for purchase, but comparable techniques are also employed to persuade people, among many other things, to drive defensively, donate to charity, or cast ballots for particular candidates.

The most significant source of revenue for the media outlets through which it is carried out is often advertising (such as newspapers, magazines, or television stations). Advertising has grown to be a significant and significant service industry in the noncommunist world.

Learn more about advertisement here

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7 0
1 year ago
A study finds that the noise from airplanes is harmful; hence, the government imposes a $20 tax on the sale of every airplane. T
allochka39001 [22]

Answer:

Decrease

$200

$190

$180

Explanation:

The question isn't complete. Here is the full question:

A study finds that the noise from airplanes is harmful; hence, the government imposes a $20 tax on the sale of every airplane. This amount accurately accounts for the external cost of the noise pollution. Before the corrective tax, airplane tickets regularly sold for $190. After the tax is in place, the market price for airplane tickets rises to $200.

The quantity of airplane tickets sold will

The socially optimal price of airplane tickets is

The private market price is

A firm selling airplane tickets receives after it pays the tax

The noise from the airplanes constitute negative externality.

Tax levied on negative externality is known as pigouvian tax.

As a result of the tax, the price of tickets increases and this would reduce the quantity of tickets demanded for according to the law of demand. According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

The social optimal price is the price of the ticket after the tax accounting for the externality has been added to price. The social optimal price is $200.

The private market price is the price before the taxes: $190.

The amount received by firms = $200 - $20 = $180

I hope my answer helps you

8 0
3 years ago
What is one cost of avoiding insurance?
kkurt [141]

Answer: One of the costs of not having insurance is the cost of repairing. Another cost is paying insurance premiums. Losses caused by a lack of insurance are the price of not having insurance.

8 0
2 years ago
When the economy is growing, total output is _____ and total income is _____.
arsen [322]
Increasing ,increasing
the reason is that when the economy is growing more money is flowing ,unemployment is decreasing so more goods and services are produced ,as a result of low unemployment ,more consumption and total output increasing total income is increasing
8 0
2 years ago
Read 2 more answers
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