Answer:
D) $5,040
Explanation:
LIFO represents last in first out. This means the last item bought is the first to be sold.
Since 2300 units were sold, subtracting from the last item bought
2300-600-800-600 = 300
Opening inventory or 1000 minus 300 = 700
700 x $7.2 = $5,040
Answer:
c. pay off accounts payable prior to year-end.
Explanation:
The current ratio refers to the relationship between the current assets and the current liabilities
The formula to compute is as follows
Current ratio = Current assets ÷ current liabilities
It is a liquidity ratio that represents the liquidity of the company
Now for improving the current ratio first the company pay off the account payable before the year ending as it automatically reduced the balance of account payable
Hence, the correct option is c.
Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
Answer:
i really like to sing but i do not have a good voice. but it makes me feel so happy and i love it but i will never sing in public
Explanation:
Answer:
b. Beginning work in process
Explanation:
Work in process (WIP) doesn't form part of the flow of manufacturing activities.
The flow of manufacturing activities include the following format:
Opening raw materials
+ Raw materials Purchases
Raw materials available for use in production
- Ending Raw Materials Inventory
Raw Materials Used in Production
<em>For manufacturing activities an entity will have the opening raw material to be used in production and will include more raw material purchased during the period which will total as the raw materials available for use in production. Through out the manufacturing activities the raw material available for use is utilized and any quantity that remains (i.e closing inventory) is subtracted to get raw material used in production, which also represents the cost of material used in the calculation of cost of goods sold (COGS). </em>