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3 years ago

Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales:

Business

1 answer:

Rom4ik [11]3 years ago

7 0

Answer:

The value of cost of goods sold is $2,730 as shown below

Explanation:

The sale of 120 units made on January 17 is valued at $1,080 (120*$9) taking from stock purchased last on January 1

The sale of 160 units on January 29 is valued at $1,650 (150 units*$11) taking the items purchased last on January 20

The cost of goods sold =$1,080+$1,650

Cost of goods sold=$2,730

The value of closing inventory=30*$9+10*$11

=$270+$110

=$380

Hence value of costs of good sold is $2,730 while closing inventory is valued at $380

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Leather ShopLeather Shop earned net income of $57,000 after deducting depreciation of $5,000 and all other expenses. Current ass

slavikrds [6]

Answer:

$75,000

This option has not been provided

Explanation:

Cash provided by operating activities

Net Operating Income

Add: Depreciation

Add: Decrease in current assets

Add: Increase in Current Liabilities

Using the information in question, we have

Cash Provided by operating activities = $57,000 + $5,000 + $4,000 + $9,000 = $75,000

None of the above is the right answer as the correct option is not available.

8 0

3 years ago

What will happen to the current ratio if current assets increase, while everything else remains unchanged?

Nana76 [90]

The current ratio will increase if current assets increase, while everything else remains unchanged.

This is further explained below.

<h3>What is the current ratio?</h3>

Generally, A liquidity ratio that evaluates a company's capacity to pay short-term debts or those that are due within the next year is called the current ratio.

It explains to investors and analysts how a business may get the most out of the current assets that are shown on its balance sheet in order to pay off its current debt and any other payables.

A current asset is defined as any asset that a company can reasonably expect to sell, consume, or deplete through the normal operations of the business inside the current financial year or an operating cycle, or an economic year.

In other words, a current asset is an asset that will be sold, consumed, or exhausted.

In conclusion, If current assets continue to grow while everything else stays the same, the current ratio will continue to show an upward trend.

Read more about current assets

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#SPJ1

5 0

1 year ago

Which of following is a TRUE statement about inventory within a continuous review system?

garri49 [273]

Answer:

c. When ordering or setup costs increase, Economic Order Quantity increases

Explanation:

In inventory there are two types of review systems used to replenish stock, the periodic inventory and continuous inventory.

Continuous inventory involves ordering the same quantity of a good in each order. However the rate at which goods are replenished varies based on monitoring of level of goods. Orders are made when inventory gets to a certain level.

In this instance when there is an increase in ordering or setup there needs to be allocation of a higher amount for orders. The additional cost is added to the economic order quantity

5 0

3 years ago

Alpha has $40,000 of capital per worker, while Beta has $5,000 of capital per worker. In all other respects, the two countries a

VladimirAG [237]

Answer:

<u>lower return </u>

Explanation:

an additionl unit of capital will have a <u>lower return</u> in Alpha compared to Beta

The diminishing return theory explains that if a factor is added, while the other remains the same, the return for each additional quantity added will be lower. So if both countries have the same amount of factor, Alpha adding more capital will not have the same return as doing it in Beta

ΔCapital/(40,000 + labor + land) < ΔCapital/(5,000 + labor + land)

That's because the divisor ir greater in Alpha it is required a higher amount of capital to produce the same return.

5 0

3 years ago

The purpose of sobriety checkpoints that are set up by community and state police is to deter drunk driving and ultimately save

lorasvet [3.4K]

Answer:

A) Laws represent the minimum guidelines that companies must follow,whereas a firm's ethical stance may venture beyond the minimum level of compliance.

Explanation:

In the given scenario there are laws that allows community and state police to set up sobriety check points that discourages drunk drivers and saves lives.

The inclusion or removal of applications that helps drunk drivers avoid these checkpoints is not covered by the law. So if a company decides to include such applications it is at their discretion.

Blackberry have chosen to remove applications that helps drunk drivers avoid checkpoints. This is an example of when a company has ventured beyond the minimum level of compliance because of their ethical stance.

Google and Apple however have only ventured beyond the minimum compliance level because they have refused to honour requests by legislators to remove apps that permit smartphone users to navigate around the checkpoints.

5 0

3 years ago