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klio [65]
3 years ago
9

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases

(listed in chronological order of acquisition):
· 40 units at $100
· 70 units at $80
· 170 units at $60

Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. Ending inventory using the average cost method (rounded) is:

Select one:

a. $650

b. $707

c. $1,000

d. $600
Business
1 answer:
eimsori [14]3 years ago
6 0

Answer:

The correct answer is $800

Explanation:

Giving the following information:

Fulbright Corp. uses the periodic inventory system.

Fulbright made the following purchases (listed in chronological order of acquisition):

· 40 units at $100

· 70 units at $80

· 170 units at $60

Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.

Ending inventory= [(100 + 80 + 60)/3]*10

Ending inventory= 80*10= $800

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7. Identifying costs of inflation Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in
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Answer:

Shoe-leather Costs.

Explanation:

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What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the Shoes-leather costs of inflation.

A Shoe-leather costs refers to the costs of time, energy and effort people expend to mitigate the effect of high inflation on the depreciative purchasing power of money by frequently visiting depository financial institutions in order to minimize inflation tax they pay on holding cash.

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Hence, Bob is practicing a shoe-leather cost of inflation so as to reduce the nominal interest rates.

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3 years ago
Laura is carefully estimating the time required for each phase of a proposed system development project to see if her company ca
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She is doing everything in order to see whether each phase will run smoothly and according to her schedule. She wants to see if her schedule is possible at all, which is why she is making a timetable to prove her hypotheses.
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A revenue variance is the:
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3 years ago
Canfield Technical School allocates administrative costs to its respective departments based on the number of students enrolled,
Svetradugi [14.3K]

Answer:

The total amount of administrative cost to the Accounting Department is $ 14,900.

Explanation:

In order to calculate the total amount of administrative cost to the Accounting Department, first we need to calculate the Utilization Ratio of the particulars, using the following formua:

Utilization Ratio=(Total amount particular/Utilised by accounting department)

Hence, the Utilization Ratio of Administration costs =(50/280)

                                                                                    =0.178

             the Utilization Ratio of Maintenance fee =(12,000/36,000)=0.33

             the Utilization Ratio of Utilities=(12,000/36,000)=0.33

Therefore, the total amount of administrative cost to the Accounting Department=(0.178×$50,000)+(0.33×$12,000)+(0.33×$6,000)

                  =$8,900+$4,000+$2,000

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6 0
3 years ago
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