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Anika [276]
3 years ago
10

ABC Co. uses a perpetual inventory system and uses the FIFO cost flow assumption. During the month, it had two sales.

Business
1 answer:
Oksana_A [137]3 years ago
3 0

Answer:

Cost of goods sold for the first sale made on Jan. 10: $141

Explanation:

The FIFO is a method used to account value for inventory. Under the method, the first item of inventory purchased is the first one sold.

Jan 1 Beginning Inventory 8 units, $12 per unit, total $96

Jan 5 Purchase 12 units, $15 per units, total $180

Jan 10 Sale 11 units, $50 per unit

Cost of good sold = 8 x $12 + 3 x $15 = $141

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What company made the first arcade game?
oksano4ka [1.4K]

Answer:

computer space

Explanation:

it was designed ny Bushnell and Ted Dabney

8 0
3 years ago
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Solid Appliances, Inc., is a private, for-profit corporation that (1) was formed for the purpose of manufacturing and distributi
Lunna [17]

Answer:

b. a close corporation. 

Explanation:

A closed corporation is a corporation in which the shares of the company aren't publicly traded. Shares are held by few people, they are usually family members or mangers of the business. A closed corporation is taxed like a typical corporation and has limited liabilities.

A s corporation is a type of corporation where shares are held by few people. S corporations are taxed like a partnership- they are taxed once.

A non profit corporation is set up for purposes other than to make profit.

I hope my answer helps you

6 0
4 years ago
Zola borrows $1000. To repay the amount, she makes 12 equal monthly payments of $95. Compounding is done monthly. Determine nomi
Verdich [7]

Answer:

Effective monthly rate 2.076%

Yearly nominal rate: 24,912%

Explanation:

In excel we have to specify the number of period. The amount we borrow and the payment we are doing This should be negative as represent a cash outflow.

This is solving for the rate of the annuity for 95 of 12 months that discounted at X rate gives 1,000 as the present value:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

95 \times \frac{1-(1+r)^{-10} }{rate} = 1000\\

we write on A1

=RATE(12;1000;-95)

and we will receive 2.076% as answer

<em><u>Now to convert into nominal:</u></em>

2.076 x 12 = 24,912%

4 0
4 years ago
For many firms, the cheapest and most important source of equity capital is in the form of:_________.
Anarel [89]

Answer:

C - Retained Earnings

Explanation:

Retained earnings are  the cheapest source of equity capital for the following under listed points:

No costs of issuance of a new security in terms of underwriters' fees are required.

It is readily available, it would take days for the company to have access to the right amount of funding

The risk of under subscription where shares rolled for subscription are not subscribed in full is nip in the bud

4 0
3 years ago
The social cost of cutting trees for firewood in a government forest is:
alukav5142 [94]

Answer:

d. the increased likelihood of flooding as more trees are cut plus the private cost of cutting the trees.

Explanation:

Social cost is defined as private cost incurred by individuals involved in a transaction along with external cost incurred by third parties that are not directly involved in the transaction. Basically it is the total cost to society for carrying out an activity or transaction.

In the given instance private individuals are incurring cost of cutting trees in a government forest, and the cost to the society at large is the increased likelihood of flood because the trees have been cut down.

5 0
4 years ago
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