The correct answer is found to be
a) $1,430.
Explanation:
- To calculate FIFO (First-In, First Out) determine the cost of your oldest inventory and multiply that cost by the amount of inventory sold,
- According to the LIFO method, the last inventory given should be the first one out. Which means, the units purchased at the 22nd should be the one to be first sold, also followed by the ones purchased at the 7th and by the beginning inventory on July 1st.
- The number of units sold during July is:
- Using LIFO, the amount allocated to those goods should come from 10 units at $23 and 60 units at $20:
- = 10 × $23 ₊ 60 × $20
- = 1,430.
- Therefore, the amount found to cost of goods sold for July is $1,430.
Answer:
The opportunity cost is $24,000
Explanation:
Giving the following information:
Suppose your expenses for this term are as follows:
tuition: $12,000
Room and board: $6,500
Books and other educational supplies: $1,500.
Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000.
Costs of college:
tuiton= 12000
Books= 1500
Lost of salary= 10,500
Total= $24,000
Answer:
For a better valuation of trade.
Explanation:
Mackay could have left out this list and simply said that the root cost 2500 florins. But he gave the list to have a better understanding of the valuation of trade. Now, the cost could have simply being layed out. But then this list helped helped to give a better perspective of the valuation of the bulb and also how it could be used to replace money
