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NemiM [27]
4 years ago
8

Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of Novemb

er of Beamer Company using the data below.
Nov 1 Purchased 600 units $80 each
Nov 4 Sold 200 units
Nov 11 Purchased 350 units $82 each
Nov 12 Sold 275 units
Nov 22 Purchased 175 units $84 each
Nov 23 Sold 155 units
Calculate the following:
Inventory valuation at the end of November
Business
1 answer:
34kurt4 years ago
3 0

Answer:

Ending inventory= $39,830

Explanation:

Giving the following information:

Company using the data below.

Nov 1 Purchased 600 units $80 each

Nov 4 Sold 200 units

Nov 11 Purchased 350 units $82 each

Nov 12 Sold 275 units

Nov 22 Purchased 175 units $84 each

Nov 23 Sold 155 units

Under the <u>LIFO (last-in, first-out) metho</u>d, the ending inventory cost is calculated using the cost of the firsts units incorporated. Using the p<u>erpetual method</u>, the company identifies the cost with each specific unit.

Ending inventory in units= total units - units sold= 495 units

COGS:

Nov 4= 200*80= 16,000

Nov 12= 275*82= 22,550

Nov 23= 155*84= 13,020

Ending inventory= 400*80 + 75*82 + 20*84= $39,830

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Answer:

a. Comparing individual financial statement line items over time.

Explanation:

Horizontal analysis of financial statements involves comparing financial information contained in the current period with the historical records of the same company to identify trends. The main objective is to identify if the ratios have been increasing, decreasing or fluctuating a lot. This is useful in analyzing and making decisions whether a company should make a major change in one area or another.

7 0
4 years ago
As of December 31, the Stanford company has the following information. Use this information to answer questions 1 to 3. Cash $5,
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Answer:

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Explanation:

Calculation for Stanford Company's Working Capital

Using this formula

Working capital =Current Assets- Current Liabilities

Where,

Current Assets = Cash + Accounts Receivable + Inventory + Prepaid Insurance

Current Assets = ($5,000 + $15,000 + $40,000 + $3,000) = $63,000

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Let plug in the formula

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3 years ago
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Full Question:

Edwin is the HR manager at a customer care unit with approximately 1,000 employees. He wants to statistically analyze the service data to make the recruitment process more effective by identifying desirable and undesirable qualities of employees. Edwin observes a high positive correlation between the employees' ability to adapt and the turnaround time. However, he decides to avoid using this criterion when recruiting employees. Which of the following, if true, would MOST strengthen this decision to avoid the criterion

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B) Another trait, honesty, had a higher correlation coefficient than employees' ability to adapt.

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Answer:

The correct answer here is A)

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The key to decision making using statistical research is <em>Statistical Significance.  </em>This means that a statistically significant observation is probably true. In this case, the statistical significance of his findings is 60%.

Cheers!

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