All categories

2 years ago

A company's inventory records report the following:

Business

1 answer:

AlexFokin [52]2 years ago

4 0

Answer:

Closing value of inventory = $357 for 21 units

Explanation:

As for the provided information we have,

Under FIFO method we know,

FIFO means First In First Out, under this the goods bought at earliest are sold earliest.

That means first opening inventory is sold, then the inventory purchased at the earliest.

Now we have,

Opening Inventory = 27 units @ $17 = $459

Purchases:

Aug 5 22 units @ $16 = $352

Aug 12 26 units @ $17 = $442

Provided 54 units are sold on Aug 15, that means, opening inventory of 27 units, 22 units bought on Aug 5, and 54 - 27 - 22 = 5 units from purchases on Aug 12.

Therefore, after sale units left = 26 - 5 = 21 units

Thus, closing value of inventory = $357 for 21 units

You might be interested in

What is the difference between simple and compound interest rates

Vlada [557]

Answer:

see below

Explanation:

Simple interest is a method of calculating gains or yields from savings, deposits, or credit. In simple interest, the interest earned is a constant figure throughout the life of an investment or loan. Simple interest is usually expressed as a percentage, called the interest rate. It is calculated by multiplying the interest rate by the principal amount and by the time. The interest rate quoted applies for a year.

Unlike simple interest, interest earned in compound interest increases every year. Compounding interest refers to the practice of adding interest earned to the principal amount. An increase in the principal amount results in an increase in the interest earned. Due to the compounding effect, a compound interest-earning account will yield more interest than a simple interest-earning account.

3 0

3 years ago

Consumers in which stage of the household life cycle are over 64 years of age; are either fully or partially retired; are health

scoray [572]

Options: A. Single 1

B. Single II

C. Empty nest I

D. Empty nest II

E. Delayed empty nest

Answer: D. Empty nest II

Explanation: Empty nest syndrome is a term used to describe the feeling of grief and loneliness which

a parent experience when their children live home for the first to some where else either to study or for work etc.

Empty nest syndrome is usually associated with Full time mother's because they are more connected to their children due to the constant Relationship between them.

Empty nest II is the loneliness or grief feelings experienced by parents after when all the children have left home and the parent now stay alone with eachother,most parents in the stage will be of ages around 64years and most are either retired or partially retired.

6 0

3 years ago

Milton Industries expects free cash flow of $5 million each year. Milton's corporate tax rate is 35%, and its unlevered cost of

bija089 [108]

Answer:

1. $33.33 million

2. $40.00 million

Explanation:

The computation of the value of Milton Industries with leverage is shown below:-

Value of Milton Industries without leverage is

= Free cash flow ÷ unlevered cost of capital

= $5 million ÷ 0.15

= $33.33 million

Value of Milton Industries with leverage is

= Value of Milton Industries without leverage + Tax × Debt

= $33.33 million + 0.35 × $19.05 million

= $40.00 million

Therefore we have applied the above formula.

4 0

3 years ago

Which of the following interpersonal skills will help you improve your own interpersonal skills?

timurjin [86]

All of the above. It would be nice to be able to add all of these to your skillset, they will all help you out.

8 0

3 years ago

Read 2 more answers

Under which circumstance might you receive a tax refund from the IRS?

Maru [420]

If you over pay or if you happen to do something and the IRS give you something but it is not normal for the IRS to give
you money

5 0

3 years ago