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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

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Harman [31]

Answer:

$503

Explanation:

The computation of the adjusted cash balance is shown below:

As we know that

Adjusted cash balance is = Cash ending balance - NSF Checks - Service charge

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3 years ago

You are considering two ways of financing a spring break vacation. you could put it on your credit card, at 17 % apr, compound

shutvik [7]

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3 years ago

Tricia had $100,000 in mortgage debt forgiven through a short sale on her principal residence on her Federal income tax return.

lidiya [134]

Answer:

d) $100,000

Explanation:

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2 years ago

Adjustments for unearned revenues: Select one: a. decrease liabilities and increase revenues. b. increase liabilities and increa

Mnenie [13.5K]

Answer:

(D) decrease revenues and decrease assets

Explanation:

Since the revenue is unearned, its entry in the books needs to be reversed.

When a revenue was recorded in the books, the like journal entry would have been.

Debit Cash/Bank/Receivables Account (thus increasing asset)

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3 years ago

In two to three sentences, explain the differences between an operating system and an operating environment.

Leno4ka [110]

Answer:

see below

Explanation:

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The operating environment is the environment in which a user runs application software. It consists of a user interface and an application programming interface. An operating environment is a middleware that rests between the Operating system and applications.

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3 years ago