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
noname [10]
3 years ago
7

Adam Company has 100 units costing $300 in beginning inventory. During the year, the company purchases 900 units for a total cos

t of $2,880. At the end of the year, a physical count reveals that 200 units remain in ending inventory. If the company uses the FIFO method, the cost of ending inventory will be:
Business
2 answers:
shutvik [7]3 years ago
8 0

Answer:

The value of the ending inventory is $ 640

Explanation:

First we have to make a table showing the inventory movements.

Beginning inventory                            100 units                         $    300

Purchases                                             900 units                        $ 2,880

Ending inventory                                   200 units

Adam Company uses the FIFO method which means that the units sold shall be valued at the opening inventory plus purchases. The ending inventory shall be priced at the purchase value.

The unit value for purchases is $ 2,880/900 = $ 3.20 per unit.

So the value of the ending inventory shall be

200 units * $ 3.2 per unit   = $ 640

anyanavicka [17]3 years ago
6 0

Answer:

ending inventory = $620

Explanation:

beginning inventory        100 units           $300          $3 per unit

purchases                        900 units         $2,880        $3.20 per unit

ending inventory             200 units               ???               ???

Under FIFO method (first in, first out), the first units purchased (oldest) are the first units to be sold.

Since the ending inventory = 200 units and using the FIFO method:

  • 100 units x $3 per unit = $300
  • 100 units x $3.20 per unit = $320

ending inventory = $300 + $320 = $620

You might be interested in
For important management positions companies often use​
natali 33 [55]

Answer:

The correct answer would be Specialized Executive Search Firms.

Explanation:

When companies hire employees, they usually use the conventional methods of recruitment, like giving ads in newspapers or pasting ad on a social job site, etc. But when employees for the important management positions are required to hire, companies often use Specialized Executive Search Firms. These are the recruitment firms which takes the demands of the employer and search for the best of the best candidates to be interviewed by the employers. Such firms have fine data about the best candidates in their databases which updates regularly. Also, after selecting the candidates, they first take initial interviews of the potential employees themselves and then route them to the employer.

4 0
3 years ago
CAN SOMEBODY PLEASE ANSWER ASAP WITH 100% CORRECT ANSWER
natima [27]

Answer:

d

Explanation:

4 0
3 years ago
In reviewing the agreement between AdCreate and Anchor Motors, Jacob Stein found that sales ofAnchor rose 2.8% compared to the p
kakasveta [241]

Answer:

AdCreate billed Anchor Motors $529,412 for the third quarter in 2010

Explanation:

The advertizing company usually takes a 15% commision

Which means from the total amount billed to customer 15% ar commision which means:

money paid to media + 15% comission of the billed amount= total amount billed

450,000 + 0.15X = X

Now, we try to solve for X and get the amount billed to anchor motors.

X = 450,000/.85 =<em> 529.411,76</em>

8 0
3 years ago
Using the vendor that all Camp Bow Wow franchises use, which gives a volume discount, purchase additional ramps, tunnels, and po
kari74 [83]

Answer:

c. High Performance

Explanation:

5 0
4 years ago
Can somebody help me find a pattern in these numbers?
Papessa [141]
1 and 5 would be the numbers
3 0
3 years ago
Other questions:
  • In the portfolio matrix, characteristics of goods and services in the leverage quadrant are: Group of answer choices competitive
    5·1 answer
  • How often should you typically monitor your checking account?
    10·1 answer
  • On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $56,000. Residual value at the end of an estimated four-yea
    6·1 answer
  • Barney wants to start a new business that yields a profit of​ 20% per year after a period of 2 years. In this​ period, if he
    12·1 answer
  • What effect will each of the following have on the demand for small automobiles such as the Mini-Cooper and Fiat 500?A. Small au
    5·1 answer
  • In January, a customer buys 100 shares of ABC stock at 450. Eleven months later in December, the stock is trading at $60. The cu
    6·1 answer
  • What costs and revenues do economists include when calculating profit that accountants don’t include? In addition to the implici
    13·1 answer
  • Ivy Ledbetter Lee, one of the founders of public relations and often dubbed "Poison Ivy," actually believed that honesty and dir
    7·1 answer
  • During a period of consistently rising prices, the method of inventory that will result in reporting the greatest cost of mercha
    13·1 answer
  • Gilberto manages a grocery store in a country experiencing a high rate of inflation. To keep up with inflation, he spends a lot
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!