Answer:
The correct answer is D.
Explanation:
Giving the following information:
Beginning inventory 7 units at $49
First purchase 18 units at $50
Second purchase 53 units at $59
Third purchase 18 units at $64
The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year.
To calculate the ending inventory using the LIFO (las-in, first-out), we need to use the cost of the firsts units incorporated to inventory:
Ending inventory= 7*49 + 16*50= $1,143
B.) saw it @ chgo.science n tech. in the year 2000
Answer:
$22,014
Explanation:
The computation of the cost of inventory is shown below:
= Purchase Cost of merchandise + transportation cost - returned goods - discount
= $23,000 + $650 - $1,200 - $436
= $22,014
The discount is computed below:
= (Purchase Cost of merchandise - returned goods) × discount rate
= ($23,000 - $1,200) × 2%
= $436
We simply added the transportation cost and deducted the returned goods and discount to the purchase cost of merchandise
A. grains correct me if im wrong
Answer:
The process cost summary is given below.
A-Total Material Cost = $22,500
B-Total Conversion costs = $95,625 (45,625+50,000)
C-Units transferred out = 40,000
D-Ending Inventory = 10,000
E-Equivalent units of material = 45,000
F-Equivalent units of conversion costs = 42,500
G-Equivalent cost per unit of material = $0.5 (A/E)
H-Equivalent cost per unit of conversion costs = $ 2.25 (B/F)
I-Equivalent cost per unit = $2.75 (G+H)
J-Cost of inventory transferred = $ 110,000 (I*C)
K-Cost Of Ending Inventory = $ 8,125 (H*(F-C) + (5000*0.5))