Answer:
D) $3,285.
Explanation:
Date Purchases Sales
Jan. 1 initial inventory 500 @ $9
Jan. 14 375 @ $14
Jan. 17 250 @ $10
Jan. 25 250 @ $11
Jan. 29 260 @ $16
January 31 only 365 units left.
Under LIFO what is the cost of inventory?
365 units x $9 per unit = $3,285
Answer: Option (B)
Explanation:
Fiat money is referred to as the currency which tends to have no intrinsic value and thus has been further entrenched as money. This process is often carried out by the federal government. This particular type of money does not tend to have the use of value, and only has the value since the authority i.e. the government tends to maintains its value.
Answer:
Balance sheet
Explanation:
Balance sheet: In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
It analyzes the financial profitability, position, performance of the business organization
AD was a dark age and a period of cultural decay and decline for Europe because there was barely a government, harsh punishments, ignorant people, not a lot of land, and there was a lot of killing and diseases going around Europe that cause Europe to decline in population.
Answer:
Production December= 15,000
Explanation:
Giving the following information:
Month Unit Sales
October 10,000
November 14,000
December 15,000
Finished goods inventory at the end of November was 4,000 units.
<u>To calculate the production required for December, we need to use the following formula:</u>
Production= sales + desired ending inventory - beginning inventory
Production= 15,000 + 16,000*0.25 - 4,000
Production= 15,000
