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Papessa [141]
4 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]4 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]4 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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Alja [10]

Answer:

D. the people were inadequately trained on how to use the new system

<u>Missing information:</u>

A. the network cannot support the data transmissions

B. the software is full of errors

C. the software performs the wrong tasks

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E. the hardware is not functional

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Assuming the provider of the software act in well-being and provides a functional software that will not crash every time is used (E) and (B)

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3 0
3 years ago
_____ makes it illegal to refuse to rent to a person who is disabled.
const2013 [10]
The appropriate response is the Civil Rights Act of 1968. It is a milestone part of enactment in the United States that accommodated break even with lodging openings paying little mind to race, religion, or national starting point and made it a government wrongdoing to "by constrain or by danger of compel, harm, scare, or meddle with anybody by reason of their race, shading, religion, or country.
4 0
3 years ago
Read 2 more answers
When Honda, a Japanese auto maker, built a factory in Ohio,
Evgesh-ka [11]

Answer:

A) it was engaged in foreign direct investment.

Explanation:

Foreign Direct Investment is a term used in business-related operations that describes a kind of investment made by an investor in a country other than the actual or original country of the investor. It can be either business operations or business assets in a different firm in another country.

Hence, in this case, when a Japanese automaker, built a factory in Ohio, it was engaged in foreign direct investment. Therefore, the correct answer is option A.

4 0
3 years ago
Alpha Corporation reported the following data for its most recent year: sales, $670,000; variable expenses, $420,000; and fixed
MariettaO [177]

Answer:

the degree of operating leverage is 5

Explanation:

The computation of the degree of operating leverage is given below:

= Contribution margin ÷ EBIT

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3 0
3 years ago
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aleksandrvk [35]

Answer:

$2,600 in the Accounts Receivable Dr./Sales Cr. column and $1,700 in the Cost of Goods Sold Dr./Inventory Cr. column.

Explanation:

If we assume that Maxie's Game World uses a perpetual inventory system, the appropriate journal entries should be:

Date XXX, merchandise sold on credit to client YYY, terms 1/10, n/30

Dr Accounts receivable 2,600

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