Answer:
A. $10,000
Explanation:
We know that :
cost of goods sold = opening inventory + purchases - ending inventory
hence,
Ending Inventory = opening inventory + purchases - cost of goods sold
therefore,
Ending Inventory = $15,000 + $45,000 - $50,000
= $10,000
The ending inventory must equal: $10,000
Answer: (C) Just-in-time (JIT)
Explanation:
The just-in-time is one of the type of inventory system that reduced the overall amount of the inventory goods and the services that is owed by the manufacturer in the business.
It is also known as JIT inventory system and the main aim of this type of system is to increase the efficiency of the products and the services in an organization and reducing the wastage in the production process.
According to the question, the just-in-time inventory control system creating the production for the short time period and for the few hours also ans they reduce overall inventory cost in the system.
Therefore, Option (C) is correct.
It gives you more ideas to make the final product better than what it original product
Answer:
A.No entry is required
B.No entry is required
C.No entry is required
D.No entry is required
Explanation:
The Edward City Council
1. Record the journal entries for November 1, Year 1, if any.
No Entry Required
2. Record the journal entries for November 30, Year 1, if any.
No Entry Required
3. Record the journal entries for December 1, Year 1, if any.
No Entry Required
4. Record the journal entries for January 1, Year 2, if any.
No Entry Required
