The weighted average unit cost is $10.61.
The cost of goods sold on October 29 is $2,122.39.
The inventory on October 21 is $3138.
<h3>What is the average weighted cost?
</h3>
The weighted cost of goods sold = [(310 x 9) + ($12 x 360)] / (360 + 310)
(2790 +4320) / 670
7,110 / 670 = $10.61
Cost of the goods sold on October 29 = average unit cost x number of goods sold
$10.61 x 200 = $2,122.39
Inventory on October 21 = ending inventory x average cost
ending inventory = total inventory - total inventory sold
- total inventory = 310 + 360 = 670 units
- total inventory sold = 170 + 200 = 370 units
- ending inventory = 670 - 370 = 300 units
Inventory on October 21 = 300 units x 10.61 = $3,183
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Answer:
When Roosevelt cut spending in 1937, the U.S. economy returned to the abysmal economic status of 1932–1933
Explanation:
Economists believe that the recession during 1937 was the result of government's decision to curb government spending as this idea was immature. Even after Roosevelt's decision there was recession and political atmosphere heated up due to this.
Roosevelt and his advisors made a decision to curb government spending thinking it would take the country of recession. It is also believed that there was contraction in the money supply caused by 'Federal Reserve and Treasury Department' policies which may have contributed to the Recession. Unemployment grew worsening the situation.
The economist John Maynard Keynes supported the idea that government should increase the spending to increase demand.
Answer:
Products and services move downstream from a supplier to a customer.
Explanation:
Dave a regular shopper at Colric Inc., placed an order for five T-shirts. However, when the order arrived, Dave discovered the T-shirts were defective. So he returned the order and requested replacements from Colric. This scenario shows an exception to the aspect of supply chain that products and services move downstream from a supplier to a customer.
Answer:
Statement of cost of goods manufactured
Work in process inventory, July 1 $316,400
Add: Cost of direct materials used in production $1,150,000
Direct labor $966,000
Total factory overhead <u>$490,500</u>
Total manufacturing cost incurred <u>$2,606,500</u>
Total manufacturing costs $2,922,900
Less: Work in process inventory, July 31 <u>$355,500</u>
Cost of goods manufactured <u>$2,567,400</u>
Answer:
I) The market for pet goods has been on the rise in recent years due to the lower costs of producing pet goods.
II) One reason for the growth of the pet goods market has been the increase in the number and availability of goods and services for pets.
III) Like other markets, the pet goods market typically declines when the there are downturns in the economy.
Explanation:
Owning a pet store can be a profitable business regardless of the performance of the larger economy. Pet stores have shown revenue growth even during recessions, as owners have cut back on their own spending before reducing the standard of living for their pets.