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Vesna [10]
3 years ago
9

Jones Co. started the year with no inventory. During the year, it purchased two identical inventory items at different times. Th

e first purchase cost $1,060 and the other, $1,380. Jones sold one of the items during the year. Required Based on this information, how much product cost would be allocated to cost of goods sold and ending inventory on the year-end financial statements, assuming use of following cost flow assumptions: FIFO? LIFO? Weighted average?

Business
1 answer:
Over [174]3 years ago
6 0

Answer:

FIFO LIFO Weighted average

Cost of goods sold 1,060 1,380 (1,060 + 1,380)/2 = $1,220

Ending inventory 1,380 1,060 (1,060 + 1,380)/2 = $1,220

Explanation:

Attached is the tabulated solutions

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Answer:

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Explanation:

4 0
3 years ago
Ceramic Customs Co. requires a specific type of ceramic to make custom-made tiles. Since only one supplier makes that particular
kramer

Answer:

a. The supplier has more bargaining power than the firm.

Explanation:

This is an example of one of Porters' five forces. The supplier has a monopoly and thus entertains a high market share. This means that the supplier has more bargaining power than the firm as if the firm wants the ceramic there are no alternative options available for the firm; however, if the firm does not want supplies, the supplier can find plenty of firms that may need the ceramic thus making supplier more powerful than the firm.

Hope that helps.

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4 years ago
Zanny Electronics Corporation uses a standard cost system for the production of its water ski radios. The direct labor standard
AlexFokin [52]

Answer:

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6 0
3 years ago
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mel-nik [20]

Answer:

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Explanation:

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joja [24]

Answer:

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