Lionel joined the International Council on Hotel, Restaurant and Institutional Education for career guidance. Which profession i
1 answer:
You might be interested in
Answer:
1805
Explanation:
Number of units sold in September = 160 units
Using the first - In, First out inventory method : assumes that the oldest (first) inventory items have been sold first.
Inventory items will first be sold from April, the May and so on :
Unit price in April = $11 ; Number of items = 115
($11 * 115) = $1265
(160 - 115) = 45 units
This 45 units will be sold at unit price for May :
(45 * $12) = $540
Cost of goods sold in September :
$1265 + $540 = $1805
Answer:
The assets should have increased by 34,000 during the same period.
Explanation:
Considering the accounting equation as follows:
Assets = Liabilities + Equity
and given the information that:
liabilities + 55,000
equity - 21,000
net change in the right side: 34,000
The assets should have increased by 34,000 during the same period.