The amount allocated to ending inventory is $3664.
LIFO is an inventory method that means last in, first out. It means that it is assumed that the latest inventory that is sold, is the first to be sold. Ending inventory is made up of inventory that is purchased eelier.
- Total inventory sold = 40 + 26 = 68 units
- Sum of total inventory bought and beginning inventory = 10 + 60 + 30 = 100
- Ending inventory = 100 - 68 = 32
- Value of ending inventory = (22 x $112) + (10 x $120)
$2464 + $1200 = $3664
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Answer: Prospector
Explanation: In simple words, a prospector refers to an individual or an entity that keeps exploring its environment for some personal goal. Usually these entities keeps continuous researching for innovation so that new products and practices could be developed.
In the given case, Free spirit keeps searching for new product development
and uses different platform for their promotional purposes.
Hence from the above we can conclude that it free spirit is a prospector.
Answer:
the cash balance at the end of the period is $3,551
Explanation:
The computation of the cash balance at the end of the period is shown below:
= Cash Balance at beginning of the period + received from receivables - paid to suppliers- cash expenses
= $4,716 + $1,517 - $2,182 - $500
= $3,551
Hence, the cash balance at the end of the period is $3,551
The above formula should be used for the same
A computer worker i guess
hope that helps
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