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Tema [17]
3 years ago
8

Flex Co. uses a periodic inventory system. The following are inventory transactions for the month of January: 1/1 Beginning inve

ntory 10,000 units at $3 1/5 Purchase 5,000 units at $4 1/15 Purchase 5,000 units at $5 1/20 Sales at $10 per unit 10,000 units Flex uses the average pricing method to determine the value of its inventory. What amount should Flex report as cost of goods sold on its income statement for the month of January?
Business
1 answer:
Radda [10]3 years ago
3 0

Answer:

The total cost of goods sold =  $37,500

Explanation:

Given:

Beginning inventory = 10,000 units at $3

Purchase inventory = 5,000 units at $4

Purchase inventory = 5,000 units at $5

Sale inventory = 10,000 units at $10

Total inventory units = [10,000 + 5,000 +5,000]

Total inventory units = [20,000]

Total Cost of inventory units = [(10,000×$3) + (5,000×$4) + (5,000×$5)]

Total Cost of inventory units = [$30,000 + $20,000 + $25,000]

Total Cost of inventory units = [$75,000]

Average price per unit = Total Cost of inventory units / Total inventory units

Average price per unit = $75,000 / 20,000

Average price per unit = $3.75

The total cost of goods sold = 10,000 units sold × $3.75

The total cost of goods sold =  $37,500

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Seven months ago, you purchased 140 shares of Mitchum Trading for $50.07 per share. The stock pays a quarterly dividend of $.17
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Explanation:

Solution

Given that

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4 0
2 years ago
$1,000 par value bond pays interest of $35 each quarter and will mature in 10 years. If your nominal annual required rate of ret
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Answer:

$1,115.58

Explanation:

Calculation to determine how much should you be willing to pay for this bond

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Therefore how much should you be willing to pay for this bond is $1,115.58

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