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
Mrac [35]
3 years ago
9

Beginning inventory, purchases, and sales data for dvd players are as follows: november 1 inventory 120 units at $39 10 sale 90

units 15 purchase 140 units at $40 20 sale 110 units 24 sale 45 units 30 purchase 160 units at $43 the business maintains a perpetual inventory system, costing by the first-in, first-out method.
a. determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in exhibit 3. under fifo, if units are in inventory at two different costs, enter the units with the lower unit cost first in the cost of goods sold unit cost column and in the inventory unit cost column. cost of the goods sold schedule first-in, first-out method dvd players
Business
2 answers:
shtirl [24]3 years ago
6 0

Answer:

the cost of goods sold:

  • November 10 sale = $3,510
  • November 20 sale = $1,170 + $3,200 = $4,370
  • November 30 sale = $1,800

Explanation:

date                inventory                price           COGS               balance

Nov. 1        purchase 120 units      $39                                      $4,680

Nov. 10        sale 90 units             90 x $39 = $3,510                 $1,170

Nov. 15     purchase 140 units      $40                                       $6,770

Nov. 20        sale 110 units            30 x $39 = $1,170               $5,600

                                                      80 x $40 = $3,200             $2,400

Nov. 24        sale 45 units            45 x $40 = $1,800                 $600

Nov. 30    purchase 160 units      $43                                      $7,480

pashok25 [27]3 years ago
5 0

Answer:

<u>Part 1 Determine the cost of the goods sold for each sale</u>

November 10 :

90 units × $ 39 = $3,510

November 20 :

30 units × $ 39 = $1,170

80 units × $ 40 = $3,200

Total Cost         = $4,300

November 24 :

45 units × $ 40  = $1,800

<u>Part 2 The inventory balance after each sale</u>

November 10 :

30 units × $ 39 = $1,170

November 20 :

60 units × $ 40 = $2,400

November 24 :

15 units × $ 40  = $600

Explanation:

First in First Out Method is build on the premise that inventory bought in first will be the first to be sold.

You might be interested in
An installment loan _____.
HACTEHA [7]
An installment loan has equal payment each month

an Installment loan is usually an amount of money which borrow that must be repaid in a specific interest rate over period of time. This type of loans DOES NOT have changing interest rates so the amount of payments are equal each time.
6 0
3 years ago
Everfi answers module 7 answers if you cause a car accident, which type of insurance will require you to pay the least out of po
seropon [69]
<span>If you cause a car accident, which type of insurance will require you to pay the least out of pocket? A low deductible plan. When you have a low deductible plan, you are going to pay less out of pocket because you will likely meet your out of pocket max in a short timeframe. When you meet your out of pocket max, you hit your deductible amount that needs to be paid by you and then your insurance will handle the rest. </span>
8 0
3 years ago
Read 2 more answers
If the price elasticity of demand for Mountain Dew is 4.4 then
taurus [48]

If the price elasticity of demand for Mountain Dew is 4.4 then "mountain dew has a high price elasticity of demand".

<u>Answer:</u> Option D

<u>Explanation:</u>

In economics "Price elasticity of demand" (PED) is a metric required to illustrate the flexibility or elasticity of a product or service's required quantity to increase its value when nothing but the value of product vary. When mountain dew have price elasticity of demand is 4.4 this follows that a price increase of 10 percent would result in the quantity needed decline by 44% as illustrated below:

4.4 = (% quantity change) / (% price change)

4.4 = x / 10

x = -4.4 (10) = -44%  here negative sign shows decline in quantity required.

3 0
3 years ago
In horizontal analysis the percent change is computed by: Multiple Choice Subtracting the analysis period amount from the base p
GalinKa [24]

Answer:

Subtracting the base period amount from the analysis period amount, dividing the result by the base period amount, and then multiplying that amount by 100.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB). It can be defined as the field of accounting involving specific processes such as recording, summarizing, analysis and reporting of financial transactions with respect to business operations over a specific period of time. Financial experts or accountant uses either the cash basis or accrual basis of accounting.

There are two (2) main methods used in financial accounting for analyzing financial statements and these are;

I. Vertical analysis.

II. Horizontal analysis.

Horizontal analysis compares historical financial informations over a number of reporting periods.

In horizontal analysis the percent change is computed by subtracting the base period amount from the analysis period amount, dividing the result by the base period amount, and then multiplying that amount by 100.

3 0
3 years ago
Define the following terms in your own words?
meriva
Activity is something you do for fun 
responsibility is something you have to take care of yourself 
accomplishment is something you ill or have accomplished
skill is something that you were born to be able to do 
aptitude is .............?????????

3 0
3 years ago
Other questions:
  • The Wheat Company has used the LIFO method for inventory valuation since the start of business 15 years ago. The current year en
    11·2 answers
  • Your firm offers a 10-year, zero coupon bond (i.e., coupon rate is 0%). The yield to maturity is 8.8 percent. What is the curren
    6·1 answer
  • What is an investment report that is given to potential investors called
    5·1 answer
  • Calculate how much each of the following items is worth in terms of today's dollars using 180 as the price index for today.
    12·1 answer
  • these students are known as the primary grades question 8 options: a) elementary school b) middle school c) high school
    14·2 answers
  • Last year, Capriana Corporation (CC) had sales of $200 million, and its inventory turnover ratio was 5.0. The CC’s current asset
    11·1 answer
  • A piece of medical equipment costs $350,000, has a useful life of 10 years and a salvage value of 10 percent of the original pur
    6·1 answer
  • Listed below are five procedures followed by Eikenberry Company.
    7·1 answer
  • What tends to happen to a nation that increases its participation in an open economy with an international sector?.
    8·1 answer
  • If the fed buys more bonds from the public, and increases the price it is willing to pay for the bonds, what will happen to inte
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!