1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anestetic [448]
3 years ago
10

The Laurel Corporation starts the year with a beginning inventory of 360 units at $11 per unit. The company purchases 530 units

at $16 each in February and 320 units at $12 each in October. Laurel sells 180 units during the year. Laurel has a periodic inventory system and uses the FIFO inventory costing method. What is the amount of cost of goods sold?
Business
1 answer:
Gala2k [10]3 years ago
6 0

Answer:

Cost of goods sold= $1,980

Explanation:

Giving the following information:

beginning inventory of 360 units at $11 per unit

February= purchases 530 units at $16 each

October= 320 units at $12 each

Laurel sells 180 units during the year.

The cost of goods sold is calculated using the purchase price of the firsts units incorporated.

Cost of goods sold= 180*11= $1,980

You might be interested in
Which concept ensures that a company replaces its unsustainable operations so that future operations don’t damage the environmen
evablogger [386]

Corporate Social Responsibility ensures that a company replaces its unsustainable operations so that future operations don’t damage the environment

6 0
3 years ago
Read 2 more answers
Jahwana works for a large corporation with a 401(k) retirement plan. The company matches dollar for dollar the first 5% of the e
Gre4nikov [31]

Answer:

$8,000

Explanation:

Jahwana earns $40,000:

her 401k contributions = 15% x $40,000 = $6,000

Jahwana's employer contributes $1 per $1 that she contributes but only up to 5%, so her employee's 401k contribution = 5% x $40,000 = $2,000

total annual contribution = $6,000 + $2,000 = $8,000

7 0
3 years ago
Read 2 more answers
Which of the following is a false completion of the following: "Congress has the authority to declare war..."
Yakvenalex [24]

Answer: E. and exercise this authority with great frequency

Explanation:

The Congress has the authority to declare war but has not been exercising this authority with great frequency most times they are reluctant to declare war and has only declared eleven wars in the history of America.

They have rarely exercise this power one of the reasons being to cut down funding of war, they preferred to authorize presidential military action without a declaration of war.

8 0
2 years ago
What gives rise to the problem of scarcity?​
horsena [70]

Answer: I honestly have no idea im just stupid and i need points so yea im sry bye

Explanation:

5 0
2 years ago
Jan is considering starting a temporary help agency. why might this be a good business to start
Marina86 [1]
The trend toward hiring temporary workers is up.
7 0
2 years ago
Read 2 more answers
Other questions:
  • Question 1 A firm sold goods for $50,000. $10,000 was paid in cash, and the remaining $40,000 was assigned to a customer’s credi
    13·1 answer
  • Pedregon Corporation has provided the following information:
    6·1 answer
  • Brandtly Industries invests a large sum of money in R&D; as a result, it retains and reinvests all of its earnings. In other
    5·1 answer
  • The term trompe l'oeil refers to work that
    5·1 answer
  • Suppose a $3 per-unit tax is placed on this good. the per-unit burden of the tax on sellers is
    7·1 answer
  • Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding shar
    9·1 answer
  • Hailey, inc., has sales of $19,630, costs of $9,400, depreciation expense of $2,070, and interest expense of $1,560. assume the
    15·1 answer
  • On June 30, 2018, Campbell Company’s total current assets were $500,500 and its total current liabilities were $276,500. On July
    7·1 answer
  • Explain the impact of taxation on the valuation of a country's currency
    13·1 answer
  • A ___ warranty promises replacement or refund for defective products.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!