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3241004551 [841]
3 years ago
14

At the end of January, Mineral Labs had an inventory of 895 units, which cost $12 per unit to produce. During February the compa

ny produced 1,500 units at a cost of $16 per unit. a. If the firm sold 2,050 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.)
Business
1 answer:
FromTheMoon [43]3 years ago
3 0

Answer:

$30,600

Explanation:

Under the LIFO Method, the cost of good sold equals to

= February units × cost per unit + Remaining units × cost per unit

= 1,500 units × $16 + 550 units × $12

= $24,000 + $6,600

= $30,600

Since the firm has sold 2,050 units, so out of which 1,500 units sold at a price of $16 and the remaining 550 units sold at a price of $12

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True or false? the patient should be given a receipt for payments on account even if the account is not paid in full.
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The statement is True.

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Makes sure an agenda is sent out before the meeting
Zielflug [23.3K]

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Hope that helps!

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The accounts of Melissa Manufacturing showed the following balances at the beginning of​ December: Account Debit Raw Materials I
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Theresa owes %249%2C000 on her car loan. If the value of her car is %2415%2C000%2C what is her equity in the car%3F
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Please find the complete question in the attached file.

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