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wariber [46]
3 years ago
13

The Boxwood Company sells blankets for $ 32.00 each. The following was taken from the inventory records during May. The company

had no beginning inventory on May 1.
Date Product Z Units Cost
May 01 Purchase 9 $15.00
May 10 Sale 5
May 17 Purchase 11 $17.00
May 20 Sale 6
May 23 Sale 3
May 30 Purchase 10 $21.00

Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the FIFO inventory cost method.

(A) $177.00
(B) $162.00
(C) $94.00
(D) $98.00
Business
1 answer:
nika2105 [10]3 years ago
8 0

Answer:

(C) $94.00

Explanation:

The computation of the cost of goods sold for the sale of May 20 is shown below:

= Remaining units × cost price + remaining units × cost price

= 4 units × $15 + 2 units × $17

= $60 + $34

= $94

The 4 units come from May 1 and May 10 i.e 9 units - 5 units = 4 units

And on May 20, the 6 units were sold out of which 4 units were sold at price of $15 and rest 2 units were sold at a price of $17

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Answer:

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0.4433 = 0.333B

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our business plan calls for sales of $45,000 in year 1 with compound growth of 30% per year thereafter. What are your projected
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477,202 are the projected sales after year 10.
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Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent inco
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Answer:

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b) The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

Explanation:

a)

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mortgage interest                          $7,500

utilities                                             $3,700

insurance                                         $2,500

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depreciation                                     $15,000

total deduction                                                    $34,600

AGI                                                                           $0

Therefore, The effect the rental activity has on Adelene's AGI is $0.                          

b)

particulars                                      amount

Real property taxes                       $3,800

mortgage interest                          $7,500

utilities                                             $3,700

insurance                                         $2,500

repairs                                              $2,100

depreciation                                     $15,000

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Therefore, The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

7 0
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7 0
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