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Mrrafil [7]
3 years ago
12

Inventory records for Dunbar Incorporated revealed the following:Date Transaction Number of units Unit CostApr. 1 Beginning inve

ntory 450 $2.19 Apr. 20 Purchase 410 2.69 Dunbar sold 590 units of inventory during the month. Ending inventory assuming LIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount):a. $726.b. $591.c. $1,103.d. $986.
Business
1 answer:
finlep [7]3 years ago
7 0

Answer:

Explanation:

1. Calculate ending inventory        Rate per unit       Total cost

                         number of units        ($)                          ($)

Beg bal (April1)  450                         2.19                       985.50

Add:purchases  

April 20             410                            2.69                      1102.90

-----------------------------------------------------------------------------

Total goods

av for sale         860                                                          2088.40

Less: Sales:

During April       590

--------------------------------

Ending inventory 270

2. Cost of ending inventory = 270*2.19=$591.3

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3 0
1 year ago
During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Pur
Alinara [238K]

Answer and Explanation:

The journal entries are shown below:

On June 3

Merchandise Inventory $4,100

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(Being the purchase of goods on credit is recorded)  

On Jun 5

Accounts payable $1,100  

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(To record purchase returns)  

On June 6

Merchandise Inventory $1,000

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(Being the purchase of goods on credit is recorded)  

On June 11

Accounts payable ($4,100 - $1,100) $3,000

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(Being the payment is recorded)  

On June 22

Accounts Payable $2,000     ($3,000 - $1,000)

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3 years ago
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attashe74 [19]

Answer:

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Market failure is the economic situation where goods and services are not evenly spread out on the market.

In question resources (location) is in favour of New Monopoly seaport and shipsbare forced to wait and enter the port.

Ideally, in a free market resources are to be efficiently distributed so that people do not have to go to only one place to get a good or service.

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3 0
3 years ago
What advice would you give to anyone who thinks they are going to be terminated from their employment?
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4 0
2 years ago
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Hence, the price of the stock is $58.96

6 0
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