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
Karo-lina-s [1.5K]
3 years ago
12

A company purchased merchandise to be resold at increasing costs during the year 2019. The purchases were made at the following

costs. 1. What are the number of units and the cost of the goods available for sale? 2. Assuming the LIFO periodic cost flow assumption, what will be the company's cost of goods sold for the 110 items sold in 2019? 3. Assuming the FIFO periodic cost flow assumption, what will be the company's cost of goods sold for the 110 items sold in 2019? 4. Assuming the periodic weighted-average cost flow assumption, what is the company's cost of goods sold for the 120 items sold in 2019? 5. Assuming the LIFO perpetual cost flow assumption, what will be the company's cost of goods sold if 10 units were sold on the last day of each month during the year 2019? 6. Assuming the perpetual moving-average cost flow assumption, what is the company's cost of goods sold for the 110 items sold in 2019? 7. A company's inventory was destroyed in a fire on January 28, 2020. The company's December 31, 2019 inventory had a cost of $40,000. The company's gross profit has consistently been 30% of sales. During January the company purchased merchandise costing $36,000 and sales of $50,000 at regular selling prices. What is the estimated cost of the inventory that was destroyed on January 28, 2020?
Business
1 answer:
Marianna [84]3 years ago
7 0

Answer:

7. $41,000

Explanation:

7. The company has $40,000 of inventory on December, it further purchased $36,000 of inventory in January. The sales in January amounted to $50,000 out of which 30% is gross profit. The cost of goods sold will be $35,000. The inventory that is destroyed by fire $41,000 ($40,000 + $36,000 - $35,000 ).

You might be interested in
Which one of the following measures the average amount of time that it takes to repair a system, application, or component?
shusha [124]

MTTR is the mean or the average time that is required to repair a system or an application

Explanation:

This is of the basic assets of the performance metrics and there are also many other performance metrics like the MTBF, MTTF, MTTD

MTTF is the mean time to repair that is the time that is involved to repair the damaged products or the systems or the applications and it is also an important maintenance metric and the time taken also includes the time that is required to diagnose the failure and the problem to repair it

4 0
2 years ago
For a normal​ good, a decrease in demand is represented as a A. rightward shift of the demand curve. B. leftward shift of the de
Mrrafil [7]

Answer: B. Left-ward shifting of the demand curve

Explanation: A decrease in demand for a Normal goods shows that the demand for that product is deceased. Most normal goods experience shifts mainly causes by economic/ market forces which may include the change in price, change in income levels,change in Government spending etc. For a normal goods to have a shift to the left,it must have been faced with a decrease in demand which can be caused by one or more of the factors listed or other market conditions.

3 0
3 years ago
The face value of a note refers to the amount borrowed plus interest received at maturity from the maker. that can be received i
inysia [295]
<span>The correct answer would be the first selection: face value, or par value, simply refers to the amount of the note that will be received at the maturity date plus the interest owed. The face value of the note is not realized, however, until the full maturity period has elapsed: a penalty applies if the note is redeemed at an earlier date.</span>
7 0
3 years ago
A point inside the production possibilities curve represents -
TEA [102]

Answer:

i think its letter D!!!!

5 0
3 years ago
When price increases, quantity supplied
CaHeK987 [17]

Answer:

Why does quantity supplied increase when price increases? With increase in Price, Suppliers will provide a higher Quantity. If the Price is set above the Equilibrium Price, then the Quantity Supplied will be higher than the Quantity Demanded and there will be a surplus which will drive the Price back to the Equilibrium Price.

Explanation:

6 0
2 years ago
Other questions:
  • Adding up all of the income in an economy in a given year is one approach to calculating which of the following?
    9·2 answers
  • Outsourcing and telecommuting are examples of which are work place trend?
    7·1 answer
  • Without an adjusting entry for accrued interest expense, liabilities and interest expense are understated, and net income and st
    10·1 answer
  • Which of these is a service?<br> A. A car<br> B. Insurance coverage<br> C. Milkshakes<br> D. A bike
    14·2 answers
  • Freehan Company’s accounting records has the following information about its inventory:
    13·1 answer
  • I am selling a laptop on eBay and someone made a best offer of $650 this morning. I accepted and now see that the person has zer
    13·1 answer
  • Black Top Express has $1,320 of cash, inventory of $10,200, net fixed assets of $33,600, accounts payable of $3,650, accounts re
    5·1 answer
  • If a firm's variable cost per unit estimate used in its base case analysis is $50 per unit and they anticipate the upper and low
    14·1 answer
  • As an economic concept, scarcity applies
    15·2 answers
  • Mcclelland's research suggests that the need for achievement is?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!