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Angelina_Jolie [31]
4 years ago
6

At May 1, 2022, Concord Corporation had beginning inventory consisting of 240 units with a unit cost of $6. During May, the comp

any purchased inventory as follows: ▪ 480 units at $6 ▪ 720 units at $6 The company sold 1200 units during the month for $10 per unit. Concord Corporation uses the average cost method. The value of Concord Corporation's inventory at May 31, 2022 is:___________.
Business
1 answer:
frutty [35]4 years ago
6 0

Answer:

The value of Concord Corporation's inventory at May 31, 2022 is: $ 1,440

Explanation:

Weighted Average Cost Method Calculates a New Cost of Inventory following each Purchase

<u>Calculation of New Cost and Inventory value is as follows :</u>

Unit Cost = Total Cost / Total Units

                =((240×$6)+( 480×$6)+(720×$6))/(240+480+720)

                = $ 8,640 / 1440

                = $ 6

Units Remaining = 240+480+720-1200

                            = 240

Inventory Value = 240×$ 6

                           =$ 1,440

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People's Clinic purchased a special machine for use in its laboratory on January 2, 2016. The machine cost $100,000 and was expe
klemol [59]

Answer:

Depreciation Expense for 2018; $10,528.57  

Explanation:

On January 2, 2016

machine cost = $100,000

Useful life = 10 years

Annual depreciation = ($100,000 - $6000)/10

                                  = $9,400

By early 2018,

Carrying amount of the machine

= $100,000 - 2($9,400)

= $100,000 - $18,800

= $81,200

Useful life is reassessed to 7 years (rather than 8) with a salvage value of $7,500

Annual Depreciation = ($81,200 - $7,500)/7

                                  =  $73,700/7

                                  =  $10,528.57  

Depreciation Expense for 2018; $10,528.57  

6 0
4 years ago
What are the advantages to shared decision-making
Dahasolnce [82]

Answer:. When patients participate in decision making and understand what they need to do, they are more likely to follow through.

Explanation:

4 0
4 years ago
When people die, they usually own property, owe debts, and may be owed money by other people. The probate process is often requi
liq [111]

1. The personal representative of a decedent is known as an executor.

2. In a situation where the decedent does not have a valid will, the court-appointed representative who supervises the probate process is called an <u>administrator</u>.

<h3>What is the probate process?</h3>

The probate process refers to the formalized legal process followed to recognize a will and appoint the executor or administrator (as the decedent's personal representative) to administer the estate and distribute assets to the intended beneficiaries.

The executor or administrator is responsible for supervising the probate process and settling the estate of the deceased or decedent.

Thus, whereas, the personal representative of a decedent is called an <u>executor</u> with a valid will, they are known as <u>administrators</u> when the court appoints them to the office.

Learn more about administering a will at brainly.com/question/25694947

4 0
3 years ago
relative to those with low levels of social support, individuals with high levels of social support ________.
Elden [556K]

Social support refers to the help rendered by different institutions in society. Family members, social institutions, and religious bodies all play a vital role. Relative to those with low levels of social support, individuals with high levels of social support

  • Tend to tolerate stress well

Experience has shown that when individuals have supportive family members and social institutions they will respond more positively to stress. ]

This is because they will receive encouragement that will push them to forge on and not give up. This makes them stronger.

Learn more here:

brainly.com/question/1048991

7 0
3 years ago
Julie transferred a building with an adjusted basis of $240,000 for another building with a fair market value of $350,000 and $2
NARA [144]

Answer:

$135,000

Explanation:

The realized gain can be calculated as under:

Realized Gain = Market Value received    -   Adjusted Basis

Here

Market Value received is $375,000 (350k + 25k)

Adjusted Basis $240,000

By putting values, we have:

Realized Gain = $375,000 - $240,000 = $135,000

7 0
3 years ago
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