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german
3 years ago
6

Priscilla has the following inventory information.

Business
1 answer:
Mademuasel [1]3 years ago
3 0

The correct answer is found to be

a) $1,430.

Explanation:

  • To calculate FIFO (First-In, First Out) determine the cost of your oldest inventory and multiply that cost by the amount of inventory sold,
  • According to the LIFO method, the last inventory given should be the first one out. Which means, the units purchased at the 22nd should be the one to be first sold, also followed by the ones purchased at the 7th and by the beginning inventory on July 1st.
  • The number of units sold during July is:
  • n = 20 ₊ 70 ₊ 10₋30
  • n = 70 units
  • Using LIFO, the amount allocated to those goods should come from 10 units at $23 and 60 units at $20:
  • = 10 × $23 ₊ 60 ×  $20
  • = 1,430.
  • Therefore, the amount found to cost of goods sold for July is $1,430.

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The basic organizing legal document for a home rule city is called the CITY STATUE.
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4 0
3 years ago
Franklin Corporation issues $50,000, 10%, 5-year bonds on January 1, for $52,100. Interest is paid semiannually on January 1 and
Karo-lina-s [1.5K]

Answer:

Bond interest expense = $2,290

so correct option is b. $2,290

Explanation:

given data

Bond issued = $50,000

Interest rate  = 10%

interest semi-annually = 5%

time period = 5 year

to find out

amount of bond interest expense

solution

we get first Cash interest payment that is here

Cash interest payment = $50,000 × 5%

Cash interest payment = $2,500     ....................1

and Bond premium will be

Bond premium = $52,100 – $50,000

Bond premium = $2,100      .......................2

we know interest paid semi annually so time period will be  = 10

so Amortization of bond premium will be here as

Amortization of bond premium = \frac{2100}{10}

Amortization of bond premium = $210      .................3

so  Bond interest expense will be calculate as

Bond interest expense = Cash interest payment - Amortization of bond premium     .......................4

put here value

Bond interest expense = $2,500 - $210

Bond interest expense = $2,290

so correct option is b. $2,290

8 0
3 years ago
When there is more choice for proceducers and consumers, that is a Command Economy.
yaroslaw [1]
Correct Answer: False
7 0
3 years ago
A house in the neighborhood has been well maintained. The seller has made sure that all the electrical systems are working to co
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Answer:

utility power

Explanation:

In simple words, the location of the house has been said to be in a prominent region, it gives the house a competitive advantage over other units, also the house has been maintained and restructured bu the seller so that it looks more good and healthy.

The subject unit has been restructured in a way that it satisfied all the needs of the buyer, thus, it brings a lot of utility power to the market in respect of its value.

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3 years ago
Kristoff Walker operates his own catering service. Summary financial data for February are presented in equation form as follows
wariber [46]

Answer:

- $17,600

Explanation:

The computation of the net decrease in cash during the month is shown below:

= $40,600 - $17,400 - $30,200 - $2,300 - $8,300

= - $17,600

After calculating the items which are presented in the column 1 represent the net decrease in cash for $17,600 amount.  

The net decrease in cash represents an outflow of cash. In this, the chances of loss may be higher than the loss.

8 0
3 years ago
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