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Lina20 [59]
4 years ago
7

Presented below is information related to Kingbird Corporation. Price Index LIFO Cost Retail Inventory on December 31, 2020, whe

n dollar-value LIFO is adopted 100 $34,200 $77,200 Inventory, December 31, 2021 110 ? 97,240 Compute the ending inventory under the dollar-value LIFO method at December 31, 2021. The cost-to-retail ratio for 2021 was 60%.
Business
1 answer:
erica [24]4 years ago
7 0

Answer:

Ending LIFO Value as on 31st dec,2021 = $54,924

Explanation:

Year Index LIFO Cost REtail

2020 100 $34,200 $77,200

2021 110 ? $97,240

Cost to Retail ration 2021 = 60% .

Hence TOTAL Cost of the inventory is = $58,344

LIFO Cost of inventory shall be calculated as follows

Inventory at base year prices = 58,344/110*100 = 53040.

Base year layers = 34,200+18,840

LIFO Value = 34,200*100/100 +18840*110/100

Ending LIFO Value as on 31st dec,2021 = $54,924

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Answer:

About 250 ; 2000 bicycles

Explanation:

Opportunity cost simply means the loss incurred on a certain option when the alternative opruoonos chosen.

The opportunity cost of increasing shoe production from 10,000 to 20,000 pairs

The value of 20,000 (x axis) on the y axis is about 3750

Value of point A in the y - axis = 4000

Hence opportunity cost = (4000 - 3750) = 250 bicycles

B.)

The opportunity cost of increasing shoe production from 50,000 to 60,000 pairs

The value of 60,000 (x axis) on the y axis is about 0

Value of point B in the y - axis = 2000

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2 years ago
Which of these should happen in order for a country to increase capital effectively?
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Charley Bates defrauded Noah Claypole by inducing him to enter into a contract to sell him his house for half its market value.
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On its December 31, 2020, balance sheet, Pharoah Company reported its investment in equity securities, which had cost $640000, a
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Answer:

$29,000

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