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
soldi70 [24.7K]
4 years ago
10

Assume that we use a perpetual inventory system and that five identical units are purchased at the following dates and costs: Ap

ril 5 $10 April 10 $12 April 15 $14 April 20 $16 April 22 $17 One unit is sold on April 25. The company uses the weighted average inventory costing method. Identify the cost of the ending inventory on the balance sheet. (Round your answer to 2 decimal places.)
Business
1 answer:
quester [9]4 years ago
5 0

Answer:

Cost of goods sold on April 25 is $13.80 and the inventory balance is $55.20

Explanation:

Data given:total unit

Cost of purchase with  data;

Date                  Amount

April 5                 $10

April 10                $12

April 15                $14

April 20                 $16

April 22                 $17

Total cost             69    

Average cost = total cost /total quantity

                       = 69/5

                       =13.8

The cost of the ending inventory is given on the balance sheet below

Date      Purchases              Cost of            Inventory Bal.   Avg Cost

                                            goods sold

April 5   $10* 1 unit= $10                -                        $10               10/1 = $10

April  10  $12* 1 unit=$12               -               10+ 12 = 22            22/2 = 11

April  15   $14* 1 unit=$14                  -           22+14 =36              36/3 = 12

April 20   $16* 1 unit= $16                  -          36 +16 =52            52/4 = 13

April 22    $17* 1 unit = $17                 -          52+17 =69            69/5 = 13.8

April 25             -           1 unit*13.8 = 13.80      69 - 13.8 = 55.20

You might be interested in
What is iatrogenic anemia? How do you prevent it?
Vsevolod [243]

They can be prevented by using of small collection tube, allowing stable patients to carry out the laboratory test and sharing of specimen in the laboratory

<h3>What is iatrogenic anemia? </h3>

This is a condition of lowered hematocrit and hemoglobin count resulting from<u> frequent removal of blood samples</u> needed for testing purpose in the laboratory.

They can be prevented by carrying out the following:

  • The use of small collection tubes
  • Stable patients should only be allowed to carry out the laboratory test
  • Sharing of specimen in the laboratory

Learn more on iatrogenic anemia here: brainly.com/question/8197071

#SPJ12

3 0
2 years ago
A sale contract stipulates that a buyer is to pay the seller's title insurance expenses. This practice is not customary in the a
serious [3.7K]

Answer:

D. the buyer must pay the expense.

Explanation:

Whenever a contract is prepared for a sale of any real estate transaction then both the parties are binding towards the contract. As that is signed by both of them which creates a legal right to get the action done from each other.

Here ,in the contract it is clearly mentioned that the buyer is responsible for the title insurance expense.

This clearly provides the right to the seller to validate such right and ask the buyer to pay for the expenses of the insurance.

Thus, the buyer in the given instance must pay the expense of the insurance.

6 0
4 years ago
Which of these is NOT an example of price discrimination? retirees getting a discount at a local movie theater soup companies se
Gre4nikov [31]

Answer:

A novel printed in paperback that sells for more than the same book in an electronic format

The example contains two different products, one is novel in paper form, and other in electronic form of the novel. Price discrimination occurs when we charge different prices for the same product from different customers. They are completely two different forms of the product which means the product is not identical in term of its form.  

Explanation:

Above mentioned example is definitely does not fall under price discrimination.

<em>Price Discrimination</em>: is offering different prices to different customers for the same good. All of the other examples may falls under price discrimination because they contain same product but for different customers namely, discount at movie theater, soup companies sending coupons, and for the same drug they are charging different prices accordingly.

 

5 0
4 years ago
From what part of income should someone take savings?<br>​
vovikov84 [41]

Answer:

nowhere

it wouldnt help anyway

5 0
4 years ago
Read 2 more answers
Tonya Jefferson, a sole proprietor, runs a successful lobbying business in Washington, D.C. She doesn't sell many business asset
melomori [17]

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
7 0
3 years ago
Other questions:
  • Under absorption costing, a company had the following unit costs when 8,000 units were produced. Direct labor $ 8.50 per unit Di
    8·1 answer
  • A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: (a) Purchased 1,500 sh
    10·1 answer
  • Brandon, age 26, is a self-employed plumber. one month ago, brandon hired his brother, age 20, to help in the business. brandon
    5·1 answer
  • iTicket, an online event-ticketing site, recently discovered that most of its good seats for a widely anticipated concert were p
    12·1 answer
  • If you took a new, strong antibiotic, which vitamin would you most likely need that you didn't need before
    9·1 answer
  • Lisa Smith decided to start her CPA practice as a professional corporation, Smith CPA, PC. The corporation purchased an office b
    11·1 answer
  • What is considered a liability in finance and why is it being used?
    10·2 answers
  • The right of rescission, which applies to loans that place a lien on the borrower residence, is effective until midnight on the
    8·1 answer
  • Uneven distribution of natural resources often leads to countries trading with one another, explain how
    6·1 answer
  • REWARD OF 80 POINTS: NEED HELP RIGHT AWAY!!
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!