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Gennadij [26K]
4 years ago
15

King Costume started the month with 8 masks in its beginning inventory that cost $10 each. During the month, King Costume purcha

sed 40 additional masks for $12 each. At the end of the month, King counted its inventory and found that 5 masks remained unsold. If King Costume uses LIFO periodic, its Cost of Goods Sold for the month isa. $434.
b. $440.
c. $24.
d. $428.
Business
1 answer:
strojnjashka [21]4 years ago
4 0

Answer:

$510

Explanation:

                                          units          cost             total

beginning inventory             8            $10               $80

purchases                            40           $12             $480

ending inventory                  5

                                                     FIFO ⇒ $12         $60

                                                     LIFO ⇒ $10         $50

                        average = $560 / 48 ⇒ $11.67    $58.33

under LIFO, the cost of goods sold = ($80 + $480 ) - $50 = $510

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Answer:

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6 0
3 years ago
A firm agreed to pay its workers ​$2525 an hour in 2016 and ​$4141 an hour in 2017. The price level for these years was 241 in 2
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Answer:

(a) 10.4%; 16.73%

(b) 6.33%

Explanation:

Given that,

Wages paid to the workers in 2016 = $25 per hour

Price level in 2016 = 241

Wages paid to the workers in 2017 = $41 per hour

Price level in 2017 = 245

Real wage rate in 2016:

= (Nominal wages ÷ Price level) × 100

= ($25 ÷ 241) × 100

= 0.104 × 100

= 10.4%

Real wage rate in 2017:

= (Nominal wages ÷ Price level) × 100

= ($41 ÷ 245) × 100

= 0.1673 × 100

= 16.73%

Therefore, the real wage increase received by these workers in​ 2017 is calculated as follows:

= Real wage rate in 2017 - Real wage rate in 2016

= 16.73% -  10.4%

= 6.33%

Hence, these workers do get a raise between the two years.

8 0
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Answer:

B. 950,000

Explanation:

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