Answer:
= $490
Explanation:
<em>Under the </em><em>First-in-First-Out </em>( FIFO ) <em>method of inventory valuation, inventories are valued using the price of the earliest batch in stock until the batch is exhausted when the price of the next oldest batch is used and so on.</em>
Date sale units Workings Value
10 10 × $19 190
20 (10 × $19)+( 10 × $20) 390
The cost o he merchandise = $190 + $390
= $490
Answer:
The account "Warranty Liability":
is adjusted at the end of the year
The answer should be 6. Six
Answer: $32000
Explanation:
The required reserves will be calculated as:
= Checkable deposit × Legal reserve ratio
= $80000 × 20%
= $16000
Excess reserves = $16000
Actual reserves will now be:
= Required reserves + Excess reserves
= $16,000 + $16,000
= $32,000
Answer:
the leading importer, but not the leading exporter in the world
