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Papessa [141]
3 years ago
9

Skysong, Inc. has the following inventory data: July 1 Beginning inventory 33 units at $16 $528 7 Purchases 115 units at $17 195

5 22 Purchases 16 units at $18 288 $2771 A physical count of merchandise inventory on July 30 reveals that there are 41 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $2058. $1976. $2033. $2107.
Business
2 answers:
BlackZzzverrR [31]3 years ago
5 0

Answer:

The answer is $2,107

Explanation:

LIFO means Last in First out. In this system, it means the inventory that was bought last will be sold out first.

Opening balance:

July 1: 33 units at $16 each

Purchased:

July 7 : 115 units at $17 each

Purchased:

July 22: 16 units at $18 each

Total number of units sold is 123 units(33 + 115 + 16 - 41)

So according to LIFO, we have:

107 units at $17= $1,819

16units at $18= $288

$1,819 + $288

=$2,107

Note: According to LIFO, all the last 16 units will be sold at $18

And 107 units out of 115 units will also be sold at $17

Zarrin [17]3 years ago
3 0

Answer:

the amount allocated to cost of goods sold using LIFO inventory method =

16 * $18 =  $288

107 *$17 = <u>$1819 </u>

total           <u> $2107</u>

Explanation:

Using LIFO inventory method means that thos goods that comes in last will be sold or issued first while the one that come earlier will remain on sold or issued.

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A $ 5000 bond with a coupon rate of 6.7​% paid semiannually has eight years to maturity and a yield to maturity of 7.8​%. If int
prohojiy [21]

Answer:

As a result of an increase in the YTM, the price of the bond will fall $4677.19 from to $4593.67

Explanation:

The bonds are valued or priced based on the present value of annuity of interest payments and the present value of the principal. Based on the YTM of 7.8% the bonds are priced at,

coupon payment = 5000 * 0.067 *1/2  =  $167.5

Semiannual YTM = 7.8 *0.5  =  3.9%

Semi annual periods to maturity = 8 * 2  =  16 periods

Old Price = 167.5 * [( 1 - (1 + 0.039)^-16  + 5000 / (1+0.039)^16

Old Price = $4677.19

New semiannual YTM = 8.1% / 2  =  4.05%

New Price = 167.5 * [( 1 - (1+0.0405)^-16) / 0.0405] + 5000 / 1.0405^16

New Price = $4593.67

7 0
2 years ago
Which of the following serves as an incentive for entrepreneurs in a market economy?
hram777 [196]

Answer:

<em>Entrepreneurs are people who take the risks of organizing productive resources to make goods and services. Profit is an important incentive that leads entrepreneurs to accept the risks of business failure.</em>

7 0
2 years ago
How air particle density and air pressure are related
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Explanation:

The more gas particles there are within a given area, the greater the air density. Likewise, the greater the air density, the more gas particles there are per unit volume. Therefore, there are more air particles bombarding with a surface. Thus, the air pressure increases as the air density increases and visa versa... I hope this helps you answer your question :)

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3 years ago
Communication with the public and employees should be overseen by the director of PR. The duties of the crisis team should be di
Veseljchak [2.6K]

Answer: The third option (option C) is the right answer.

Explanation:

The paragraph which has the best coherence is option C. This is because in the case of the third option, it explains that the flow of ideas is constant from one sentence to another.

The first sentence serves as an introduction which talked about the reasons why duties should be divided based on each member’s expertise. The sentences moved smoothly and also logically from one sentence to another sentence. An example is the sentence that “if your company does not have a public relations executive…..”. This should logically proceed the sentence that says that communication ought to be overseen by the director of PR.

This shows that the third option possesses a consistent and logical train of thought as well.

3 0
2 years ago
Kent Fuller is in the 34 percent tax bracket. A nontaxable employee benefit with a value of $2,300 would have a tax-equivalent v
Phantasy [73]

Answer:

$3,484.85

Explanation:

Calculation to determine tax-equivalent value

Using this formula

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Let plug in the formula

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Therefore A nontaxable employee benefit with a value of $2,300 would have a tax-equivalent value of:$3,484.85

6 0
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