All categories

3 years ago

A company's inventory records report the following:

Business

1 answer:

AlexFokin [52]3 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

Return on equity is referred to by the acronym ROI. is an activity ratio. shows how much after-tax profits are generated by each

Ne4ueva [31]

Answer:

measures the rate of return on the book value of shareholders' total investment in the company.

Explanation:

Return on equity is referred to by the acronym ROI measures the rate of return on the book value of shareholders' total investment in the company.

The formula for calculating Return on Investment is Net Profit as a percentage of Total Investment.

Total investment here refers to net worth, which is total assets minus total liabilities; which gives the same value as equity.

That explains why the measure is referred to as Return on equity.

4 0

3 years ago

Read 2 more answers

A used car costs $5000 you drive it for 4 years. You drive 10,000 miles per year. Your car insurance is $1,200 per year. You spe

BlackZzzverrR [31]

Answer:

$0.445 per mile

Explanation:

Calculation for what the average cost per mile

will be over the 4 years

First step is to calculate the Insurance cost

Insurance cost = $1,200 x 4

Insurance cost = $4,800

Second Step is to calculate the Maintenance cost

Maintenance cost = $400 x 4

Maintenance cost = $1,600

Third Step is to calculate the Total mileage

Total mileage = 10,000 miles per year x 4 years Total mileage= 40,000 miles

Fourth step is to calculate the Gas cost

Gas cost =( 1 gallon/25 miles per gallon x 40,000 miles)x $4 per gallon

Gas cost = 1,600 gallons x $4 per gallon

Gas cost=$6,400

Last step is to calculate the average cost using this formula

Average cost =Initial cost+Insurance cost+Maintenance cost +Gas cost/Total mileage

Let plug in the formula

Average cost = $5,000 + $4,800 + $1,600 + $6,400/40,000 mile

Average cost= $17,800 / 40,000 miles

Average cost = $0.445 per mile

Therefore what the average cost per mile

will be over the 4 years will be $0.445 per mile

8 0

3 years ago

Walker & Co. (Walker) signed a written contract to lease a large neon advertising sign to Herbert Harrison, who is in the dr

Colt1911 [192]

Answer:

I believe that Walter breached the contract because they failed to clean the sign, but I wouldn't consider it a material breach (this would be a non-material breach).

A material breach of a contract takes place when the breaching party does something (or fails to do something) that goes against the basic reason why the contract was signed. A material breach would be that Walter didn't provide the sign or that the sign never worked (didn't turn on). But in this case, the sign was a little bit dirty with little spider cobwebs appearing at its corners.

4 0

4 years ago

Direct financing works in multiple ways. Put the following events in order to show how direct financing can strengthen an econom

bazaltina [42]

Answer: E,C,D,B.

Direct financing strengthen an economy's GDP because they come without any interest cost or rate and are directly invested to increase the level of production or output of a business .

Explanation:

Direct financing occurs when money is borrowed from the financial market without using a third party or an intermediary, this is done in other to avoid indirect financing and it's high borrowing cost effect where the overall cost of the loan can be increased through interest rate.

Direct financing is when shares or securities are sold by a borrower in order to raise money and avoid interest rates that comes with using intermediaries or third party services.

Note: Those intermediaries are banks.

6 0

4 years ago

Fitbit makes health and fitness tracking devices. some buyers want very basic fitness tracking such as steps taken and calories

spin [16.1K]

In serving these two different groups, Fibrit is using the benefits sought or benefit segmentation. The benefit segmentation is a process that divides the market into a category in regards of the perceived value in which the segments made in the market is purely based on the performance, customer service, quality, features and the benefits that it provides to its consumers.

7 0

3 years ago