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Sidana [21]
3 years ago
8

Effie company uses a periodic inventory system. details for the inventory account for the month of january, 2013 are as follows:

units per unit price total balance, 1/1/13 200 $5.00 $1,000 purchase, 1/15/13 100 5.30 530 purchase, 1/28/13 100 5.50 550 an end of the month (1/31/13) inventory showed that 140 units were on hand. how many units did the company sell during january, 2013?
Business
1 answer:
a_sh-v [17]3 years ago
4 0

Answer: 260

Periodic inventory is a system of inventory in which updates on inventory are made on a periodic basis. If purchases made by Effie company in January are (200+100+100=400) and units on hand at the end of the month is 140, then the company sales for the month is (400-140) or 260.

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<h3>What is overstock?</h3>

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Complete question

Oceans Inc., a seafood distributor, agrees to buy from Paul, a commercial fisherman, any "overstock" of fish that Paul catches in excess of his legal limit. This agreement is most likely

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3 0
2 years ago
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Answer:

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The rate in the secondary market is determining equillibrum price in this case.

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