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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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3 years ago

What impression does it give if you are text messaging or listening to music while waiting to be called into an interview?

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2 years ago

When a firm's customers make investments in order to use its particular product or service, the customers incur which type of co

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When a firm's customers make investments in order to use its particular product or service, the customers incur switching costs if they purchase another firm's products or services instead. Therefore, the option B holds true.

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The switching costs can be referred to or considered as the costs incurred by the customers of a product or a service when they use the alternatives or the competitive products available in the market, instead of the product they were using earlier.

Therefore, the option B holds true and states regarding the significance of the switching costs.

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When a firm's customers make investments in order to use its particular product or service, the customers incur which type of costs if they purchase another firm's products or services instead?

A. Acquisition costs

B. Switching costs

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1 year ago

On January 3, 2018, Austin Corp. purchased 25% of the voting common stock of Gainsville Co., paying $2,500,000. Austin decided t

monitta

Answer:

The total amount of excess amortization for Austin’s 25% investment in Gainsville is $30,000.

Explanation:

total proportions from building, equipment and franchises

= building proportion over 10 years + equipment proportion over 5 years + franchises proportion over 8 years

= ($ 500,000 - $ 400,000)/(10) + (1,300,000 - 1,000,000)/(5) + ($ 400,000-$0)/(8)

= $100,000/10 + $300,000/5 + $400,000/8

= $10,000 + $60,000 + $50,000

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= 25%($120,000)

= $30,000

Therefore, the total amount of excess amortization for Austin’s 25% investment in Gainsville is $30,000.

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3 years ago

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<h3>What is Real Property ?</h3>

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