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zimovet [89]
3 years ago
12

Monarch Company uses a weighted-average perpetual inventory system, and has the following purchases and sales: January 1 20 unit

s were purchased at $10 per unit. January 12 12 units were sold. January 20 18 units were purchased at $11 per unit.
Business
1 answer:
love history [14]3 years ago
3 0

Answer: incomplete question: what is the value of the closing inventory?

Ending inventory is $278

Explanation:

Cost of goods sold = 12 units * $10 per unit = $120

Average cost =bal of purchases on Jan 1 plus purchases on Jan 20 / ending inventory qty

= [(8 * $10) + (18 *$11)] / 26 units = $10.69/unit

Ending inventory = (8 + 18) 26 units * $10.69/unit = $277.94

Appx = $278

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Rocks are classified according to their mode of

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which differ from each other by their composition and texture.

6 0
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When an investor's accounting period ends on a date that does not coincide with an interest receipt date for bonds held as an in
Serhud [2]

Answer:

make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the amount of interest accrued since the last interest receipt date.

Explanation:

Adjusting entries are used at the end of an accounting period to assign income and expenses that has accrued.

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5 0
3 years ago
Licensee Ken has worked long hours with buyer client Patrick to negotiate an agreement to buy Jordan’s house. A day before closi
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Answer:

Ken must disclose this information as it is a material fact.

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3 0
4 years ago
Budgeting supports the planning process by encouraging all of the following activities except a. requiring all organizational un
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Answer:

The correct answer is option d. directing and coordinating operations during the period.

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So, the correct answer is <u>option D.</u>

8 0
3 years ago
Case Scenario:
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Explanation:

When the procedure is so standardized and outdated, now is the time for the HR-specalist to rethink the process seriously

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7 0
4 years ago
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