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
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.

You might be interested in
A piece rate worker is paid
OleMash [197]

Answer:

nothin

Explanation:

They don't work hard enough

oh no

our table

it's broken!!!!!!

7 0
2 years ago
In 2019, Whispering Winds Corp. had net sales of $973,000 and cost of goods sold of $570,900. Operating expenses were $220,300,
tester [92]

Answer:

Whispering Winds Gross profit is $402,100

Explanation:

Multi step income statement differentiate the the operating revenue and expenses from non operating revenue and expenses. It shows the gross profit, operating profit and net profit separately.

     Whispering Winds Corp.

 Income statement for the year 2019

Net sales                               $973,000

Less: Cost of goods sold     <u>$570,900</u>

Gross Profit                                            $402,100

Less:Operating expenses                     <u>$220,300</u>

Operating Profit                                     $181,800

Less: Interest expense                          <u>$14,600  </u>

Profit before Tax                                    $167,200

7 0
3 years ago
can yall plz help me with this science qustion the choses are masses,shapes,and sizes ....also ill give brainlest
bazaltina [42]

Answer:

the answer is the mass.

4 0
2 years ago
Read 2 more answers
When traveling to another country you have the choice of paying for the stay when you book the reservation or when you check out
Digiron [165]

Answer and Explanation:

In the given situation, it is mentioned that while travelling to another country you have two choices for paying at the time of booking or at the time of checking out. Now at Jan the person made a reservation for staying at Italy and completed the stay as on April 30th so here the change in inflation would be matters whether it is increasing or decreasing. It is better to pay off at advances as there is a chances that the price could rise in near future

3 0
3 years ago
In the role of a cultural steward, an HR manager primarily:A. administers day-to-day work of managing people.B. facilitates an o
statuscvo [17]

Answer:

(B) facilitates an organization’s culture and helps to build and strengthen or change that culture.

Explanation:

HR manager here refers to human resources manager, someone whose duties tend to revolve in the management and development of a company’s employees. There are many roles that an HR manager can take, from administrative expert (as described by option A), business partner (as described  by option D & E), and of course, a cultural steward.  

3 0
3 years ago
Other questions:
  • You agree to make 24 deposits of $500 at the beginning of each month into a bank account. At the end of the 24th month, you will
    5·2 answers
  • GW Corp. has two shareholders; Devana owns 40 shares and another corporation, Alpine, Inc., owns another 60 shares. Devana is al
    15·1 answer
  • Finke Company's employees are paid each Friday for hours worked the previous week. At the end of the accounting period, Finke Co
    15·1 answer
  • Alliance Products purchased equipment that cost $120,000. It had an estimated useful life of four years and no residual value. T
    9·1 answer
  • When the consumer price index falls, the typical family has to spend fewer dollars to maintain the same standard of living.
    14·1 answer
  • In Year 1, the actual budget deficit was $150 billion and the cyclically adjusted deficit was $125 billion. In Year 2, the actua
    6·1 answer
  • SAT scores generally fall _____ points above or below a student's true ability.
    15·2 answers
  • Please see image I need help
    10·1 answer
  • In 2018, borland semiconductors entered into the transactions described below. In 2015, borland had issued 215 million shares of
    9·1 answer
  • Es posible comprometer la soberanía alimentaria con tratados internacionales de la defensa de genes, propiedad de empresa intern
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!