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babunello [35]
3 years ago
6

Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases

during the month of January were as follows:
Quantity Unit Cost Total Cost
Beginning inventory (Jan. 1) 17 8 136
Purchase (Jan. 11) 9 14 126
Purchase (Jan. 20) 20 16 320
Total 46 582

On January 14, Beech Soda, Inc. sold 22 units of this product. The other 24 units remained in inventory at January 31. Assuming that Beech Soda uses the LIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is:__________
Business
2 answers:
bagirrra123 [75]3 years ago
8 0

Answer:

the cost of goods sold to be recorded at January 14 is: $230 .

Explanation:

LIFO (Last in First out) method, assumes that the last goods purchased are the <em>first ones</em> to be issued to the final customer.

This means that valuation of inventory will begin using the value of the <em>earliest</em> goods purchased.

The Cost of goods sold is calculated as follows :

Cost of goods sold : 9 units × $14 = $126

                                  13 units × $8 = $104

                                  Total              = $230

kenny6666 [7]3 years ago
7 0

Answer:

$230

Explanation:

                                             Quantity          Unit Cost           Total Cost

Beginning inventory (Jan. 1)      17                   $8                    $136        

Purchase (Jan. 11)                       9                   $14                    $126

Purchase (Jan. 20)                    20                  $16                   $320

Total                                           46                                           $582

sales:

January 14, 22 units sold

cost of goods sold under LIFO = (9 x $14) + (13 x $8) = $126 + $104 = $230

cost of goods sold under FIFO = (5 x $14) + (17 x $8) = $70 + $136 = $206

cost of goods sold under average cost = ($262 / 26) x 22 = $221.69

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Answer:

C) violated the Sixth Amendment right to a jury trial.

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When the firms in the industry are just able to cover their cost of production, economic profit is zero. Therefore, if demand fa
zheka24 [161]

Answer:

The correct answer is false.

Explanation:

A firm incurs both variable cost and fixed cost in the short run. If the firm is able to cover the variable cost in the short run it will continue operating. However, if it is not able to cover its variable cost it will stop operating.  

So, if the demand falls such that total revenue is not able to cover total cost but the variable cost is being covered, the firm will not stop production.  

In the long run, all the costs are variable. So when the revenue is not able to cover cost, the firms will stop operating.

6 0
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The Terme Corporation is contemplating the purchase of new equipment, which may potentially increase revenues by 25%. Currently,
vekshin1

Answer:

The increase in gross profit is  $12,374.93

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salvage value is $0

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