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
Elena-2011 [213]
3 years ago
5

During the year, Wright Company sells 415 remote-control airplanes for $100 each. The company has the following inventory purcha

se transactions for the year. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 50 $ 75 $ 3,750 May. 5 Purchase 215 78 16,770 Nov. 3 Purchase 165 83 13,695 430 $ 34,215 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO.
Business
1 answer:
mihalych1998 [28]3 years ago
7 0

Answer:

See explanation section.

Explanation:

We know, first in first out (FIFO) inventory system shows that items were sold those were purchase earlier.

Cost of good sold under FIFO method,

Jan. 1 Beginning inventory                       50 units × $75 = $3,750

May. 5 Purchase                                       215 units × $78 = $16,770

<u>Nov. 3 Purchase                                        150 units × $83 = $12,450</u>

Cost of good sold                                      415 units            = $32,970

Ending inventory = Total inventory - cost of good sold

Ending inventory = 430 units - 415 units = 15 units

Cost of inventory = Total cost - Cost of good sold

Cost of inventory = $34,215 - $32,970 = $1,245

You might be interested in
Question 3
lozanna [386]

Answer:

OD All are signs of a serious gambling problem.

5 0
3 years ago
High valley antiques would like to issue new equity shares if its cost of equity declines to 10.5 percent. the company pays a co
True [87]

The price of the share would be calculated as -

Price of share = Annual constant dividend / Cost of equity

Given, cost of equity = 10.5 %

Annual constant dividend = $ 1.60

Price of share = $ 1.60 ÷ 10.50 %

Price of share = $ 15.238 or $ 15.24

8 0
3 years ago
What information is important when choosing a healthcare plan?
Nataliya [291]
5 Things to Consider When ChoosingYour Health Coverage

Type of plan and provider network. Do the health care providers, hospitals and pharmacies you prefer fall within the plan's network?

Premiums. How much will you pay per month for coverage?

Deductibles. What is the amount you must pay out of pocket before your coverage kicks in?

Copay or coinsurance

Coverage of Medicines




I hope it helped you!
8 0
3 years ago
Seahorse Incorporated, which only has one product, has provided the following data concerning its most recent month of operation
ra1l [238]

Answer:

Unit product cost = $107

Explanation:

<em>Absorption costing is a method of costing where production units and inventories are value at the full cost per unit. Here, fixed overheads are charged to all units produced using an overhead absorption rate</em>

The full cost per unit = D.mat cost + D.labour cost + Variable overheads+ Fixed overheads

Fixed production overhead cost per unit

=Fixed manufacturing overhead/units produced

=  $43,700/ 1,900 Units

=$23 per unit

Full cost per unit

= $42  + $31 + $11 + 23

= $107

7 0
3 years ago
John's band's Facebook page has 17,000 likes. If each of his fans has friends that number 15 percent of the likes that John has,
ch4aika [34]
17,000 * 17,000 * 0.15 = 43,350,000
(Hope this helps...)
6 0
3 years ago
Read 2 more answers
Other questions:
  • Mark a calendar year taxpayer, purchased an annuity for $50,000 in 2012. The annuity was to pay him $3,000 on the first day of e
    5·1 answer
  • Expansionary policies are intended to _____ economic growth, and contractionary policies are intended to _____ economic growth.
    15·2 answers
  • The demand curve faced by a nondiscriminating pure monopoly is _____.
    11·1 answer
  • The purchase of overseas production and marketing facilities is an example of
    10·1 answer
  • All competitive advantages do not accrue to large-sized firms. A major advantage of smaller firms are that they ____ (A) have mo
    14·1 answer
  • Wood Incorporated factored $165,600 of accounts receivable with Engram Factors Inc. on a without recourse basis. Engram assesses
    6·1 answer
  • On a particular day, the Dow Jones had a rate of change of -2.1%. Which of the following statements must also be true?
    7·1 answer
  • An investment of $1 each in two different securities led to a value of $11 (Security A) and $16 (Security B), respectively, afte
    11·1 answer
  • The effect of a Pigovian tax on a market is: Group of answer choices increased price and quantity to the efficient level decreas
    14·1 answer
  • A(n) _____ is based on authority stemming from hierarchical rank and is responsible for the overall performance of the business
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!