1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
guapka [62]
3 years ago
9

A company has beginning inventory of 10 units at a cost of $10 each on February 1. On February 3, it purchases 20 units at $12 e

ach. 12 units are sold on February 5. Using the FIFO periodic inventory method, what is the cost of the 12 units that are sold?
a) $120
b) $124
c) $128
d) $130
e )$140
Business
1 answer:
Gre4nikov [31]3 years ago
7 0

Answer:

b) $124

Explanation:

FIFO means first in, first out. Under this principle, goods that were purchased or produced earlier will be the first ones on sale.

The value of the goods sold in our case will be as follows.

The first ten items   @ $10: 10X10 =$100

Two items to make   [email protected] $12: 2x12=$24

 

Total cost: $100+$24= $124

You might be interested in
When you encounter an organization where employees are quite intense, focused, and determined to win, you have encountered an or
vlada-n [284]

Answer: When you encounter an organization where employees are quite intense, focused, and determined to win, you have encountered an organization with a(n) <u>Mercenary</u> culture.

<u>Explanation:</u>

Mercenary is one who always works for money not for achieving any organizational goal. Mercenary culture is one in which employees have the same thinking. Employees are not friends with each other. It is the culture in which everyone thinks of his benefit. People are more determined to win even if they have to sacrifice their ethics.

So this type of culture is not very successful in the long run. Because everybody works for his or her advantage. For an organization to be successful everyone has to work together keeping in mind the benefit of other employees also.

5 0
3 years ago
What is the value of a put option at expiry if the stock price is 'S' and the exercise price is 'X'?
Setler [38]

Answer:

A put option is out of the money if the strike price is less than the market price of the underlying security. The holder of an option contract can exercise the option at any time before expiration.

Explanation:

hope this helps if not please let me know

6 0
2 years ago
If the working-age population ________ and the labor force does not change, the ________.
FinnZ [79.3K]
E. Increases; unemployment rate will increase
6 0
3 years ago
Which type of restaurant hires trained chefs to prepare food to order? _________ restaurants hire trained chefs to create ______
alekssr [168]
The answer is fine dining and good quality
7 0
3 years ago
Read 2 more answers
What is it called when work is done for a company by people who live in other countries
Gemiola [76]

Answer:

Offshoring

The answer is offshoring because people do work for companies that are in other countires or states because they are probably a proffesional at what they are doing.

5 0
3 years ago
Other questions:
  • How does creating and maintaining competitive advantages in a platform business like Uber’s differ from a vertical chain busines
    12·1 answer
  • On December 31, 2016 before adjusting entries, Accounts Receivable for Nickolas Company had a debit balance of $200,000, and the
    6·1 answer
  • In the ____ stage, denial occurs despite signs of deteriorating performance.
    9·1 answer
  • Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency distribution showing the
    11·1 answer
  • Gordon Chemicals Company acquires a delivery truck at a cost of $35,400 on January 1, 2017. The truck is expected to have a salv
    5·1 answer
  • On October 1, Oriole Corporation’s stockholders’ equity is as follows.
    7·1 answer
  • From the following list of selected items taken from the records of Bobcat Appliance Service as of a specific date, identify tho
    6·1 answer
  • Assets Liabilities Net Worth Reserves $120,000 Checkable Deposits $300,000 Loans 140,000 Stock Shares 200,000 Securities 40,000
    5·1 answer
  • Durable goods are: a. consumers' goods b. raw materials combined to produce consumer goods c. those that must be replaced after
    6·1 answer
  • A company has 800 bonds outstanding with a par value of $1,000 and priced at 95% of par. It also has 40,000 shares of common sto
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!