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
Sergeu [11.5K]
3 years ago
8

One identical unit is purchased on each of the following three dates and at the respective costs: June 1 at $10 June 2 at $15 Ju

ly 4 at $20 The company sells two units during the period. Conclude which inventory items are sold first and which unit remains in ending inventory if the company is using the FIFO cost flow assumption.
Business
2 answers:
Tcecarenko [31]3 years ago
5 0

Answer:

Sold first - June 1 at $10

Sold first - June 2 at $15

Ending inventory - July 4 at $20

Explanation:

In the FIFO Method, when the first product is acquired it is sold first or dispose of.  

In the given question, one identical unit is purchased on three dates, and the company sold two units  

So, the selling units would be  

June 1 at $10  

June 2 at $15  

And, the remaining stock would be considered as an ending inventory i.e July 4 at $20

wlad13 [49]3 years ago
4 0

Answer:

<em><u>The answer is</u></em>: <u>The two June products are sold first</u>: <u><em>June 1 at $ 10 </em></u>

<u><em>June 2 at $ 15</em></u>, <u>and the product of the month of July is pending</u>: <em><u>July 4 at $ 20.</u></em>

<em><u /></em>

Explanation:

The FIFO method is an inventory valuation technique whose acronym corresponds to “<u>First In, First Out</u>”. Assume that the cost flow is based on the fact that the first products purchased are also the first products that are sold.

<em><u>The answer is</u></em>: <u>The two June products are sold first</u>: <u><em>June 1 at $ 10 </em></u>

<u><em>June 2 at $ 15</em></u>, <u>and the product of the month of July is pending</u>: <em><u>July 4 at $ 20.</u></em>

You might be interested in
A firm has four different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the
xxMikexx [17]

Answer:

The answer is "Option D".

Explanation:

Using the formula for calculating present value:

= \frac{Future \ value}{(1+r)^n}\\\\

that's why "Option D" is correct.

8 0
3 years ago
The Hutch Fashions sends out its spring and summer catalog to Liz. Liz falls in love with the cute dress featured on the front c
Ede4ka [16]

Cindyliz is wrong in this situation

Both Cindyliz and The Hutch Fashions did not signed any contract that specify the obligation that The Hutch Fashions need to sell  a certain type of product to Cindyliz. She just obtained a summer catalogue, not a purchase order.  A catalogue only filled with list of product information that company sold.

8 0
2 years ago
Read 2 more answers
The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost of $250,000 now and an updated budget of $9
timama [110]

The perpetual equivalent annual cost is - $35013

<h3 /><h3>The perpetual annual cost calculation</h3>

interest i = 10%

Period = n = 7 years

Formula

A/F = i/(1+i)^n-1

= 0.1/(1+0.1)^7-1

= 0.1054

The perpetual annual cost

= -250000*0.1-95000(0.1054)

= -25000-10013

= - 35013

Therefore the perpetual equivalent annual cost is   $35013

8 0
2 years ago
What are long-term decisions that set the direction for the entire organization called?a. Tactical b. Operational c. Directional
kvv77 [185]

Answer:

The correct answer is letter "E": Strategic.

Explanation:

Strategic decisions imply analyzing what direction is the overall company going to take in the long run. It represents the groups of decisions high-rank executives must take to conduct the operations of the firm, the resources that will be used and how they will combine those factors to reach the organization's objectives.

8 0
3 years ago
Discuss why exploring different career options is an important step in choosing the right path in your professional life. What a
AnnyKZ [126]

1) You can get to know what career suits you the most

2) Know about the relevant options you can go for

3) Know what career suits your qualifications

4) Benefits and pros and cons

3 0
3 years ago
Other questions:
  • Cathy’s apartment was broken into and her two-year-old sound system was taken. Cathy had paid $1,400 for the system, but it will
    9·1 answer
  • Poppy co. uses a periodic inventory system. beginning inventory on january 1 was understated by $30,000, and its ending inventor
    9·1 answer
  • Kiley Corporation had these transactions during 2017. Analyze the transactions and indicate whether each transaction is an opera
    9·1 answer
  • Tamarisk, Inc. had the following transactions during 2022: 1. Issued $280000 of par value common stock for cash. 2. Recorded and
    9·1 answer
  • Which benefit typically costs an employer the most to provide?
    7·1 answer
  • In terms of interests in real property, this is not an interest in land but a temporary right to use another's land for a limite
    10·1 answer
  • Alex garcia has an idea for an internet technology business that involves innovative search engine tools. he was referred to an
    8·1 answer
  • A researcher wanted to determine the mean number of hours per week (Sunday through Saturday) the typical person watches televisi
    9·1 answer
  • You just deposited $4,000 in cash into a checking account at the local bank. Assume that banks lend out all excess reserves and
    10·1 answer
  • Fun fact: The average person walks past a murderer 36 times in their life It's a fun fact because they didn't kill you.
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!