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jeka57 [31]
3 years ago
15

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods

Business
2 answers:
SIZIF [17.4K]3 years ago
7 0

Answer:

LIFO ending inventory $   544.00

Weighted average:      $    565.44‬

FIFO ending invetory:  $   590.00

Explanation:

weighted-average:

1,449 / 41 = 35,34

Ending Inventory

16 x 35.34

LIFo we pick the first 16 units as the latest were sold:

8 units at $ 33  =  $ 264

8 units at $ 35  =  $ 280

Total ending inventory $ 544

FIFo we pick the last as the first one are the first being sold

15 units at 37 = 555

1 unit at 35 =       35

total ending      590

Kitty [74]3 years ago
3 0

Answer:

a) FIFO

Inventory = $590

b) LIFO

Inventory =  $544

C) WAM

Inventory = $565,46 = $565

Explanation:

a) FIFO

Inventory = $555 +$ 35 = $590

Dec purchase = $555

Aug 7 = $35

b) LIFO

Inventory = 280 +264 = $544

Jan  = $264

AUG = 8 * $35 = $280

C) WAM

Inventory

WAM = $1449/41 = $35,34 *16 = $565,46

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3 years ago
Complete the Analysis section using formulas with statistical functions. Use named ranges instead of cell references in the form
hram777 [196]

Answer:

The formula for average is =AVERAGE(E15,E16).

The formula for highest is =MAX(F15,F16).

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Explanation:

In MS Excel, on the left hand side below the tool bar there is a small box which tells the cell name where the cursor is clicked, the name of the cell can be changed from here easily, click on the desired cell and then by clicking on the box you can enter the name of the cell. After a cell is renamed the formula can be written by simply putting the name of the cell instead of the original e.g. E13

The formula for average is =AVERAGE(E15,E16).

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5 0
3 years ago
Question Number 5) UPS management feels that one of the main advantages ________ provides to the company is structure a union sa
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<h3>What is a Labor Union?</h3>

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1 year ago
If a price ceiling is not binding, thena. the equilibrium price is above the price ceiling.b. the equilibrium price is below the
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Which of the following characteristics apply to taxable fringe benefits? (Check all that apply.)
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Answer:

Employers treat the taxable fringe benefits the same as cash compensation.

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Fringe benefits are "perks and additions to normal compensation that companies give their employees, such as life insurance, tuition assistance, or employee discounts".

* The cost of the taxable fringe benefit is deductible to the employer, not the value of the benefit to the employee.

FALSE,  the taxable fringe benefit is not deductible from the employer.

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