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Andrew [12]
3 years ago
5

Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2021 are as follows:

Units Per unit price Total Beg. Balance, 1/1/21 200 $5.00 $1,000 Purchase, 1/15/21 100 5.30 530 Purchase, 1/28/21 100 5.50 550 An end of the month (1/31/21) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory? Group of answer choices $868 $848 $800 $832
Business
1 answer:
Lynna [10]3 years ago
6 0

Answer:

Ending inventory : $868

Explanation:

FIFO (First-In-First-Out) is a method of inventory valuation where the inventory that is received first is sold first. In other words, the earliest inventory is used first. This is common for perishable inventory such as fruits and vegetables which if not used fast, will be wasted.

01/01/21 : Beginning Inventory : 200 units x $5 = $1000

01/15/21 : Purchases : 100 units x $5.3 = $530

01/28/21 : Purchases : 100 units x $5.5 = $550

Total units = 200 + 100 + 100 = 400 units

Units sold = Total inventory available for sale - ending inventory

= 400 - 160 = 240 units.

COGS:

Beginning Inventory : 200 units x $5 = $1000

Purchases : 40 units x $5.3 = $212

Cost of goods sold : $1000 + $212 = $1212

Ending inventory:

Purchases : (100 - 40) units x $5.3 = $318

Purchases : 100 units x $5.5 = $550

Ending inventory : $318 + $550 = $868

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The statement that is being described is a part of public relations. It is because the public relations' function is to be able to maintain their image with of the company, organization or to the public. They maintain this relationship in order to display a positive image and to be able to be known to the public and to have a strong support or bond that they want to have or accomplish.
6 0
3 years ago
9. How does online banking decrease the amount of paperwork you need to file?
IrinaK [193]

Answer:

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Explanation:

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5 0
2 years ago
Which of the following costs would a computer manufacturer include in manufacturing overhead? a. The cost of the disk drives. b.
Dmitry_Shevchenko [17]

Answer:

d. Depreciation on testing equipment.

Explanation:

Manufacturing overhead are cost associated with producing a product but cannot be traced to the product in a feasible way.

Examples include indirect costs in production: labor for plant maintenance, rent, insurance, taxes, depreciation, and cleaning labor.

For the computer manufacturer depreciation on testing equipment is an indirect overhead cost because it is not a direct input when producing goods.

3 0
3 years ago
BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to
viktelen [127]

Answer:

1. Machine A

Net present value $2,996

Profitability index 1.04

Machine B

Net present value($19,166)

Profitability index = 0.89

B. Machine A

Explanation:

Calculation for the net present value and profitability index of each machine

MACHINE A

NET PRESENT VALUE

Cash Flows×9% Discount Factor=Present value

Present value of net annual cash flows($19,800-$5,130)×5.53482 =$81,196

Present value of salvage value$0 ×0.50187 =$0 $81,196

Capital investment $78,200

Net present value $2,996

($81,196-$78,200)

MACHINE APROFITABILITY INDEX

Profitability index = $81,196 / $78,200

Profitability index = 1.04

MACHINE A

NET PRESENT VALUE

Cash Flows×9% Discount Factor=Present value

Present value of net annual cash flows ($39,600-$10,180) ×5.53482 =$162,834

Present value of salvage value$0 ×0.50187 =$0 $162,834

Capital investment $182,000

Net present value($19,166)

Profitability index = $162,834 / $182,000

Profitability index = 0.89

Therefore the net present value and profitability index of each machine are :

Machine A

Net present value $2,996

Profitability index 1.04

Machine B

Net present value($19,166)

Profitability index = 0.89

2. Based on the above calculation for both Machine And Machine B we can see that Machine B net present value is negative while, profitability index is also low which means that Machine B should not be Purchased and MACHINE A SHOULD BE PURCHASED.

6 0
3 years ago
Internet is both boon and curse. Justify the statement​
Andre45 [30]

Why Internet is a boon :-

Because of internet, world has became a global village.

Internet encourages freedom of speech.

Internet is empowering everyone including those who are residing at remotest places.

Internet has created a lot of opportunities that weren’t there before. It created a lot of jobs.

Education got globalized. Students can take any course in any college through E-learning.

New innovations and resources can now be shared easily.

Transfer of files was made easy.

There is no limit to store information in the internet.

Communication has never been this easier.

We can pay bills or buy items from home, that would have required to go outside otherwise.

We can find information about anything.

We can develop our skills through many free courses available in internet.

Internet can be used for entertainment such as playing video games, watching movies etc.

The scope of gossips on celebrities is reducing because now celebrities are able interact with fans directly through social media.

Why Internet is a bane :-

According to researchers, our concentration levels are decreasing with the overwhelming usage of internet as we are concentrating on a lot of things at the same time.

Our memory power is reducing. With the growing usage of internet, we are not using our minds as much as we did when there was no internet. We used to store a lot of information in our minds and we used do simple math without using our phones etc.

The present generation has way too many distractions because of internet.

Lack of security, because hackers can easily theft data or can manipulate it.

Face to face communication has reduced.

Everyone can express their own views. But lots of misleading information too available in the internet. Children and youth can easily be misled by that.

Through Internet, viruses and malware spread easily and total data can get corrupted.

Many waste their precious time on internet.

Gossips spread easily. The privacy of celebrities is diminishing.

Internet addiction is now one of the modern world problems.

Conclusion :-

Internet is definitely a boon. It brought the world closer and made our lives easier. We should utilize technology to compete with this fast world. But every coin has two sides. It’s up to us to receive good and to leave bad.

4 0
3 years ago
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