1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Drupady [299]
3 years ago
15

Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no b

eginning inventory on May 1. Date Blankets Units Cost May 3 Purchase 5 $20 10 Sale 3 17 Purchase 10 24 20 Sale 6 23 Sale 3 30 Purchase 10 30 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the FIFO inventory cost method.
Business
1 answer:
Sveta_85 [38]3 years ago
7 0

Answer:

$136

Explanation:

Date      Transaction       Units         Cost           Total          

3             Purchase             5            $20             $100

10            Sale                     3

17            Purchase            10            $24            $240

20           Sale                     6

23           Sale                     3

30           Purchase           10             $30            $300

using the first in, first out method, the COGS is calculated based on the oldest price of the units in merchandise inventory:

6 units were sold on May 20th, 2 of them costed $20 (May 3rd purchase) per unit = $40, while 4 of them costed $24 (May 17th purchase) = $96. Total COGS = $40 + $96 = $136.

You might be interested in
A witness statement is a primary source.<br> ✅True<br> - False
ohaa [14]

Answer: true

Explanation:

7 0
2 years ago
Read 2 more answers
Poe Company is considering the purchase of new equipment costing $80,000. The projected net cash flows are $35,000 for the first
sergey [27]

Answer:

$23,773.65

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested

NPV can be calculated using a financial calculator :

cash flow in year 0 = $-80,000.

Cash flow in year 1 and 2 = $35,000.

Cash flow in year 3 and 4 = $30,000.

I = 10%

NPV = $23,773.65

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

5 0
3 years ago
DUE TODAY PLEASE HELP T^T
jonny [76]

Answer:

i think its true

Explanation:

5 0
3 years ago
Read 2 more answers
In the case of an unanticipated inflation: A) creditors with an unindexed contract are hurt because they get less than they expe
podryga [215]

Answer:

A is the correct option.

Explanation:

The increase in the general price is known as inflation. This inflation occurs when people know that Inflation is going to occur and they start preparing for it. e.g In case of increased interest rates if the inflation is anticipated, the banks try to protect themselves by increasing the interest rates. There is also unanticipated inflation which occurs when people are unaware that inflation until the price level increases. In the case of unanticipated inflation, people are unprotected.

4 0
3 years ago
Distinguish between corporate image and reputation​
My name is Ann [436]
Corporate image is more about how a brand makes people feel, while reputation includes people’s perceptions of a company’s products, leadership, finances, social responsibility, and interactions with its costumers, employees, and community. Both corporate image and reputation can impact a company’s revenue and success.
7 0
2 years ago
Other questions:
  • Fox Co. was organized January 2, with 30,000 authorized shares of $10 par common stock. During the year the corporation had the
    7·1 answer
  • Which of the following correctly describes an example of a secondary competitor?
    9·2 answers
  • Help with this please....
    11·1 answer
  • Pessimism Suppose the economy is in long-run equilibrium. Then because of corporate scandal, international tensions, and loss of
    12·1 answer
  • Annual manufacturing cost data (1000s) for four product lines are as follows:
    9·1 answer
  • Clint's salary increased from ​$22 comma 000 to ​$35 comma 200 over a​ three-year period.​ Helen's salary increased from ​$28 co
    10·1 answer
  • Bro why is School so boring like fr
    7·2 answers
  • A census helps the CPI in what way?
    6·1 answer
  • If only one airline serves a town, does a monopoly exist? What about competition from other services?
    8·2 answers
  • Use the word SMART goal in a sentence:​
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!