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kari74 [83]
4 years ago
6

A company just starting business made the following four inventory purchases in June: June 1 150 units $2.60 each $ 390 total co

st June 10 200 units 2.925 585 June 15 200 units 3.15 630 June 28 150 units 3.4 510 Cost of Good Available for Sale $2,115 A physical count of merchandise inventory on June 30 reveals that there are 300 units on hand. Using the LIFO inventory method, the value of the ending inventory rounded to a dollar on June 30 is Group of answer choices a.975 b.983 c.1,140 d.829
Business
1 answer:
ELEN [110]4 years ago
7 0

Answer:

d. 829

Explanation:

The computation of the ending inventory using the LIFO method is shown below:            

Since there are 300 units in hand which reflects the ending inventory units so

= 150 units ×$2.60 + 150 units  $2.925

= $390 + $438.75

= $828.75

i.e d. 829

So 150 units is taken from June and the remaining units i.e 150 units are taken from June 10

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Answer:

A general lien is one placed against any and all real and personal property owned by a particular debtor. An example is an inheritance tax lien placed against all property owned by the heir. A specific lien attaches to a single item of real or personal property, and does not affect other property owned by the debtor.

Explanation:

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3 years ago
Which type of account typically has very high liquidity, low or no interest, and low minimum balance?
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A Checking Account would.
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3 years ago
A salesperson's compensation can be made up of some combination of salary, commission, and ________, which are payments made at
murzikaleks [220]

Answer:

"bonuses"

Explanation:

according to my research on the different type of payments that are given to employees, I can say that the answer is "bonuses", because it is the only type of physical payment that is missing from the question. Bonuses are paid to employees when reach a certain milestone or goal that is set by the employer or company, usually used as an employee motivator.

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4 0
4 years ago
A general partner who puts together the administrative organization of the limited partnership and handles the registration of t
Valentin [98]

Limited partner.

<h3>What is a Limited partner?</h3>
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<h3>What is Limited Partnership?</h3>
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  • Different from limited liability partnerships, which only have limited liability for each participant, are limited partnerships.
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5 0
2 years ago
sold real property with a $140,000 adjusted basis for $255,000. The buyer paid $148,000 cash and assumed Mr. Beck's $107,000 mor
Oxana [17]

Answer:

The answer is $115,000

Explanation:

Solution

Given that:

Property sold  =$140,000

Adjusted basis = $255,000

The buyer paid =$148,000

Mortgage on reality =$107,000

The next step is to find Mr Beck realized gain or loss on sale

Thus

Sale value =$140,000

Adjusted basis =$255,000

140,00 + 255,000 = $115000

Therefore Mr beck realized gain or loss on sale is $115,000

8 0
3 years ago
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