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REY [17]
4 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]4 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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antiseptic1488 [7]

Answer:

$677,000,000

Explanation:

The computation of pension expenses is shown below:-

Pension expenses = Service cost + Interest on PBO - Return on plan assets + Amortization of prior service cost - Amortization of net loss

= $366,000,000 + $737,000,000 - $593,000,000 + $13,000,000 - $154,000,000

= $677,000,000

Therefore for computing the pension expenses we simply applied the above formula so that the correct amount could come

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4 years ago
Molly is getting ready to file her tax return. She works and has a savings account. What tax forms does she need?
Jobisdone [24]
<span>(B)   W-2 form from her employer, tax forms from the bank, and a tax return form.</span>
3 0
3 years ago
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Moon, a farmer, needs to install a two-thousand-pound piece of equipment in his barn. This will require lifting the equipment th
kirill [66]

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5 0
3 years ago
Tuity Fruity Beverage​ Company's operating activities for the year are listed below. Purchases ​$140 comma 700 Operating expense
blsea [12.9K]

Answer:

The cost of goods sold for the​ year is $134,300

Explanation:

The cost of goods sold for the​ year = Beginning inventory + Merchandise Purchased - Ending inventory

Tuity Fruity Beverage​ Company's purchases ​$140 comma 700 and has beginning inventory 12 comma 600, ending inventory 19 comma 000.

Therefore:

The cost of goods sold for the​ year = $12,600 + $140,700 - $19,000 = $134,300

3 0
3 years ago
A trial balance prepared after the closing entries have been journalized and posted is the ____(A) Unadjusted trial balance.(B)
AleksAgata [21]

Answer:

(B) Post-closing trial balance

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after the closing entries, the temporary accounts are closed. It will only disclosure the permanent accounts, which are the assets, liabilities and equity of the business.

The unadjusted TB will be before adjusting entries and closing entries.

The adjusted TB will be before the closing entries, it wil include both, temporary and permanent accounts

The worksheet is an auxiliary paper to create the financial statements.

The general ledger compiles each account balance and transaction related to each account to determiante  this balance.

6 0
4 years ago
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