Answer:
Closing inventory - $10,160
Costs of goods sold - $9,600
Explanation:
Under the LIFO Method, the cost of good sold equals to
= April 23 units × cost per unit + Remaining units × cost per unit
= 300 units × $22 + 150 units × $20
= $6,600 + $3,000
= $9,600
Since the firm has sold 450 units, so out of which 300 units sold at a price of $22 and the remaining 150 units sold at a price of $20
The ending inventory equals to
= Remaining units × cost per unit + April 1 × cost per unit
= 270 units × $20 + 280 units × $17
= $5,400 + $4,760
= $10,160
Since on April 23, the 420 units were purchase, out of which 150 units are transferred to the cost of good sold and the remaining units 270 units at $20 is transferred to the ending inventory
A bachelor's degree (from Middle Latin baccalaureus) or baccalaureate (from Modern Latin baccalaureatus) is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years (depending on institution and academic discipline).
Answer:
a. No, because Shelby made a mistake about the dog's value, not a mistake about a material fact.
Explanation:
Peggy made an offer to sell the dog for $800, they didn't discuss the dog's ancestry and Shelby wrongly assumed the dog was from champion lines and agreed to buy the dog for $800.
Based on further investigations, she discovered the dog was worth just $200.
She cannot rescind the contract because she wrongly assumed the dog's value not an error about à material fact. Peggy sold the dog at her own rates and Shelby bought the dog while wrongly assuming the value, so she cannot cancel the contract based on that.
Answer:
Companies will move overseas to escape unions and hire cheaper labor.
