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
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

You might be interested in
What do economists mean when they use the word "land"?
Ede4ka [16]
In economics, the resource that encompasses the natural resources used in production
4 0
3 years ago
Read 2 more answers
Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams est
Ostrovityanka [42]

Answer:

150%

Explanation:

Computation of the predetermined overhead rate

Using this formula

Predetermined overhead rate=Estimated overhead/Estimated direct labor cost

Let plug in the formula

Predetermined overhead rate=$322,500/ $215,000

Predetermined overhead rate=1.5*100

Predetermined overhead rate=150%

Therefore Predetermined overhead rate will be 150%

6 0
3 years ago
Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of al
IgorC [24]

Answer:

a= 75%

b= 1702

c= 94% , 4334

8 0
2 years ago
In making a sales forecast, the business owner can only use his best judgment to determine projected costs and revenues.
jeyben [28]
False.

The business owner should not only rely on his best judgement to determine projected costs and revenues. He should consider the trends in the market and his company performance on the previous months in order to make a sales forecast. 


7 0
3 years ago
Read 2 more answers
Super Computer Company's stock is selling for $100 per share today. It is expected that, at the end of one year, it will pay a d
lesantik [10]

Answer: A. 20%

Explanation:

The expected return takes into account whatever dividends and capital gains accrue to a stock over the period.

Expected return = (Price at end of period + Dividends - Price at beginning of period) / Price at beginning of period

= (114 + 6 - 100) / 100

= 20/100

= 20%

5 0
3 years ago
Other questions:
  • What benefit did seward see in acquiring alaska?
    12·1 answer
  • At the end of January, Mineral Labs had an inventory of 735 units, which cost $8 per unit to produce. During February the compan
    9·1 answer
  • Which of the following statements is CORRECT?a. A major disadvantage of financing with preferred stock is that preferred stockho
    12·1 answer
  • On January 2, 2017, Coronado Corporation issued 31000 shares of 5% cumulative preferred stock at $100 par value. On December 31,
    6·1 answer
  • Education and Training !<br> Can anybody help me on this? I don’t understand ☹️...
    8·1 answer
  • A company has a beginning inventory of​ $20,000 and purchases during the year of​ $140,000. The beginning inventory consisted of
    5·1 answer
  • Third Parties In General (not Just With Health Care) Are Inefficient Because
    6·1 answer
  • Why is it important to screen your business idea?​
    14·1 answer
  • When an employee/shareholder receives a business incoLogan, a 50-percent shareholder in Military Gear Incorporated (MG), is comp
    5·1 answer
  • The common stock of RMW Inc. is selling at $88 a share. It just paid a dividend of $4. Investors expect a return of 15 percent o
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!