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REY [17]
3 years ago
6

A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On N

ovember 6 they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?A) $304 B) $296 C) $288 D) $280 E) $276
Business
1 answer:
elixir [45]3 years ago
6 0

Answer: A $304

Explanation: LIFO means last in first out. It means it is the older inventory that is sold off first.

On November 1, total value of inventory = $20 × 5 =$100

On November 2, total value of inventory = $100 + ( $22 × 10) = $320

On November 6, total value of inventory = $320 +($25×6) = $470

On November 8, 8 units of inventory was sold. This would be taken from the older stock of inventory. These inventories are the those from November 1 and 2.

The remaining inventory after the sale = (7 × 22) + 150 = $304

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2 years ago
When the price of summer tank tops falls and you buy more of them because they are relatively less expensive, this is calledA) t
svet-max [94.6K]

Answer:

The correct answer is A) the substitution effect

Explanation:

In other words, the substitution effect is when sales fall because the consumers change into cheaper alternatives when its price rises.

4 0
3 years ago
alachi is a manager at a home goods store. he subscribes to theory x. in managing his employees, he is most likely to
RideAnS [48]

Alachi is a manager at a home goods store. he subscribes to theory x. in managing his employees, he is most likely to assume the average worker prefers to be directed.

<h3>What is Management Style?</h3>

There are many management styles and it depends on the mind mindset off employer or manager, a manager with theory X assumes that the employees does not like to work and there needs to be directed, they can only be motivated with salary. While the manager theory Y assumes that the employees like their job and are responsible for the work they do, they need some guidance but are responsible for the work, they can be motivated with appraisals, appreciations and more rewards.

Alachi as a manager is a theory X manager and assumes that the workers prefers to be directed and therefore he would delegate the task and provide the complete guidance to them.

Learn more about Management style at brainly.com/question/27207232

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7 0
1 year ago
Josh purchased 100 shares of XOM at the beginning of 2016. He received dividends per share of​ $1.37 (2016),​ $1.55 (2017),​ $1.
Natalka [10]

Answer: 7.80%

Explanation:

At the end of 2016, Josh received a dividend of $1.37 and at the end of 2020, he received one of $1.85.

You can calculate the growth rate with the formula:

Dividend Growth Rate = (Dividend received at end of 2020/Dividend received at end of 2016) ^ (1/n) - 1

2016 to 2020 is 4 years.

Dividend growth rate = (1.85 / 1.37)¹/⁴ - 1

= 0.07798518

= 7.80%

8 0
3 years ago
Susan wishes to buy gasoline and have her car washed.She finds that if she buys 9 gallons of gasoline at $2 per gallon,the car w
3241004551 [841]

Answer:

$0.50

Explanation:

Marginal cost is the additional expense associated with consuming, selling, or producing one extra unit. For Susan, the marginal cost is the extra cost incurred by purchasing the 10th  gallon of gasoline.

To obtain the marginal cost:

The cost of 9 gallons plus cash wash

=(9 x $2) + $1.50= $19.50

cost of 10 gallons plus cash wash

=(10 x $2) cash wash is free= $ 20

The extra cost associated with the additional unit (marginal cost)

= $ 20- $ 19.50

=$0.50

3 0
3 years ago
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