Answer:
The value of closing inventory using FIFO under perpetual inventory system is $9379
Explanation:
The FIFO or first in first out method is a method of inventory valuation which basis the value of ending inventory on the assumption that the inventories that were purchased first were the ones that were sold first and the closing or ending inventory is comprised of the most recent purchases.
The perpetual method of inventory recording makes real time record and changes in the inventory level as soon as a transaction relating to inventory occurs.
The ending inventory of the business can be calculated as follows:
Transaction Purchases Sale Balance
1. Opening Inventory (100 * 103) 10300
2. July 10 purchase (150 * 91) 13650 23950
3. July 15 sale (100*103 + 73*91) 16943 7007
4. July 22 purchase (200 * 113) 22600 29607
5. July 30 sale (77*91 + 117*113) <u> 20228 9379</u>
Totals 36250 37171 9379
- The value of closing inventory is $9379.
- The sale made on July 15 was made through using 100 units of opening inventory at a cost of $103 per unit and 73 units from July 10 purchases at $91 per unit.
- The sale made on July 30 was made through using the remaining units of July 10 purchases (150 - 73 = 77) at $91 per unit and using the units from July 22 purchase (194 - 77 = 117) at $113 per unit.
- The closing inventory in units is = 200 - 117 = 83
- The cost of closing inventory is 83 * 113 = $9379
Answer:
The answer is "$1,800".
Explanation:
Given value:
Solution:
At this revenue pace (900 units), the net operating income is going to be $1,800.
Answer:
The correct answer is letter "A": Team members share accountability for the work.
Explanation:
While talking about team formations, mutual accountability refers to the relationship that borns inside a group based on <em>trust </em>and <em>commitment </em>which makes them become a team. Accountability allows team members to give their opinions on the activities that hold them together which is likely to increase their engagement with the performance and collective results of the team.
under equity funding, there are three types of funding which are Venture Capital funds, Private Equity funds, and Angel Investors. While looking for the right types of funding and investors, the company should raise funds from firms that have both the extensive network and subject matter expertise in the industry.
Explanation:
Answer:
Retiring the oldest bond
Explanation:
Firms issue bonds to raise the funds. Firm has to pay dividend on those bonds and the ability of firm to pay dividend reflect the financial position of the firm. Thus, retiring the oldest bond in exposes company to the most risk of being issued an emergency loan
