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
skad [1K]
2 years ago
7

Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning in

ventory 500 $2.40 Apr. 20 Purchase 400 2.50 Dunbar sold 700 units of inventory during the month. Ending inventory assuming FIFO would be: Select one:
A. $500.
B. $470.
C. $490.
D. $480.
Business
2 answers:
Afina-wow [57]2 years ago
4 0

Answer:

Option (A) is correct.

Explanation:

Dunbar sold 700 units during the month.

Dunbar uses FIFO inventory system,

Number of units available for sale = Beginning Inventory + Purchases

Number of units available for sale = 500 + 400

Number of units available for sale = 900

700 units sold includes 500 units of beginning inventory and 200 units of April 20 purchases.

Ending Inventory = Number of units available for sale - Number of units sold

Ending Inventory = 900 - 700

Ending Inventory = 200 units

Ending Inventory includes 200 units of April 20 purchases :

Ending Inventory = 200 units × $2.50

Ending Inventory = $500

Nady [450]2 years ago
3 0

Answer:

option (A) $500

Explanation:

Given:

Date             Transaction            Number of Units       Unit Cost

Apr. 1     Beginning inventory         500                        $2.40

Apr. 20 Purchase                            400                        $2.50

Now,

Number of units sold = 700

Number of units available for sale = Beginning Inventory + Purchases

= 500 + 400

= 900

Now,

using the LIFO approach,

700 units that has been sold includes 500 units of beginning inventory and 200 units of April 20 purchases.

Therefore,

Ending Inventory = Number of units available for sale - Number of units sold

= 900 - 700

= 200 units

Cost of ending inventory = 200 units × $2.50

= $500

Hence,

The correct answer is option (A) $500

You might be interested in
which management theory uses time-motion studies to find the one best method for workers to perform each task and then teaches t
sergij07 [2.7K]

Taylor's Scientific management theory employs time-motion research to determine the best approach for personnel to execute each task and then teaches them that method.

Taylor's Scientific Management seeks the most effective approach to execute every task. He believed in universal rules that governed efficiency and that these laws were independent of human judgment. The purpose of Scientific Management was to find the "one best way" to accomplish things as effectively as possible. Frederick Winslow Taylor was an American mechanical engineer who lived from 1856 to 1915. He was the first management consultant and the first to examine work and production scientifically.

He is regarded as the father of Scientific Management and the efficiency movement. Taylor's Incentive Theory, often known as Scientific Management, was one of the first workplace motivation theories.

Learn more about teaches here

brainly.com/question/28591852

#SPJ4

7 0
1 year ago
Bob is a summer intern in an office. His boss asks him to organize a storage room filled with old contracts that must be held fo
Nutka1998 [239]

Answer:

The correct answer is (d) email.

Explanation:

Email is a form of written communication between people through digital tools. Also called email or e-mail (for its meaning in English electronic mail), it is one of the most popular means of digital communication and can be used by anyone who has access to the internet.

In this case, Bob must use a means of communication that ensures that he will not interrupt his boss's meeting. In addition, it is practical because an immediate response can be given without having to pass authority filters.

4 0
3 years ago
The disadvantage of owning a mutual fund that invests in common stocks is the risk of loss of ___.
Ludmilka [50]

Answer:

"Principal" Since the value of common stock could decline to zero, investors do carry the risk of losing their entire principal. That risk is greatly reduced when investing in bonds, because if you hold a bond to its maturity date, you will at least get back the par value ($1000) of the bond.

Hope this helps :) -Mark Brainiest Please :)

5 0
3 years ago
1. Fiscal policy refers to A. the behavior of the nation's central bank, the Federal Reserve, regarding the nation's money suppl
Vladimir [108]

Answer: D. The spending and taxing policies used by the government to influence the economy

Explanation:

Fiscal policy is simply the application of government spending/expenditures and revenue/taxing policies to influence the economy of a nation.

8 0
3 years ago
Explain the concept of the time value of money.
telo118 [61]

Time value of money (TVM) is the concept that an amount of money today is worth more than the same amount of money in the future because of the potential for earnings. This is a basic principle of finance. Money in hand has more value than the same money paid in the future.

Time value of money. Simply put, the value of a given amount of money today is worth more than it will be worth tomorrow. This is not due to temporal uncertainty, it is simply due to timing. The difference between the value of money today and tomorrow is called the time value of money.

Learn more about the time value of money here:brainly.com/question/3811399
#SPJ4

7 0
1 year ago
Other questions:
  • Mayan Company had net income of $132,000. The weighted-average common shares outstanding were 80,000. The company has no preferr
    5·1 answer
  • A stock has an expected return of 13.4 percent, the risk-free rate is 9 percent, and the market risk premium is 10 percent. what
    5·1 answer
  • Adolescence is associated with
    15·2 answers
  • The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year:
    8·1 answer
  • When julie is focused on measuring performance and correcting as necessary, she is focusing on which of these managerial functio
    8·1 answer
  • You are looking for part-time employment and posted your rĂ©sumĂ© to an online job site. One day you receive an e-mail from a co
    14·1 answer
  • Match each of the following accounts to its proper balance sheet classification.
    8·1 answer
  • William wrote a check for $150.00 for his gas bill, but he only has 96.26 in his checking account. What will happen to the check
    5·1 answer
  • What do you mean by consistency in accounting ?
    7·2 answers
  • Randy has established a successful fast-food restaurant chain named randy’s in the united states. He currently has 12 locations
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!