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Irina18 [472]
3 years ago
6

When the weighted average cost method is used in a perpetual inventory system, a weighted average unit cost for each item is com

puted each time a sale is made. at the end of the year. at the beginning of each month. each time a purchase is made. 2. Jacobs Company had inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit. On June 12, it purchased 20 units at $14 per unit. On June 17, it sold 30 units. Using FIFO, what is the value of the inventory at June 17 after the sale? $140 $160 $210 $380 PreviousNext
Business
1 answer:
Wittaler [7]3 years ago
6 0

Answer:

Ending inventory $210

Explanation:

Perpetual inventory system:

<u>Cost of Goods Sold and ending inventory are calcualte after every sale.</u>

Inventory available at the moment of sale:

Beginning inventory of 15 units at a cost of $12 = $180

June 5, Jacobs purchased 10 units at $13 per unit = $130

On June 12, it purchased 20 units at $14 per unit = $280

<em>units for sale: 45 cost of goods available for sale 590</em>

we sold 30 units. Units at ending Inventory: 45 - 30 = 15

<u>We are asked for FIFO method:</u>

first units are sold and <u>newest are inventory</u> so, ending invenotry will be compose of units fro mthe nearest purchase which is June 12th

15 units x $14 each = $ 210

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In one nation, life expectancy is in the high 50s. Few citizens have access to modern technology, and the average yearly income
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Answer:

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Explanation:

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According to lawrence and lorsch, the stability of an organization's environment determine(s) the degree of ____.
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2 years ago
Department B had a beginning inventory of 400 units, 1/4 completed; an ending inventory of 300 units, 2/3 completed, and receive
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Answer:

The correct answer is D 1,200 units.

Explanation:

The weighted average method includes costs in beginning inventory and current period costs to establish an average cost per unit. The first-in-first-out (FIFO) method keeps beginning inventory costs separate from current period costs and assumes that beginning inventory units are completed and transferred out before the units started during the current period are completed and transferred out.

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2 years ago
Suppose that you are the manager of a large retail store that is currently experiencing a shoplifting problem. Every hour, $25 w
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Answer:

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