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Nata [24]
3 years ago
8

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells

390 units. Ending inventory at January 31 totals 150 units. Units Unit Cost Beginning inventory on January 1 350 $ 3.40 Purchase on January 9 80 3.60 Purchase on January 25 110 3.70 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO.
Business
1 answer:
Kay [80]3 years ago
5 0

Answer:

$510 is costs assigned to ending inventory

Explanation:

According to Last-In- First-Out method of inventory valuation , items of stock received last is sold first.

As a result, the sale of 390 units on January 26 is from the purchases of 25 January (110 units), January 9 (80 units) and 200 units from the purchase made on  January 1st.

Above all, closing inventory is items bought on January 1st.

Value of closing inventory=150*$3.40=$510

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which stage in a work-unit activity analysis focuses on the product, information, or service provided?
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The stage in a work-unit activity analysis that focuses on the product, information, or service provided is the output phase, This is further explained below.

<h3>What is the output phase?</h3>

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Reliability is one of the attributes or characteristics of a good test or research. Hence we can conclude that  When tests are used as part of the selection process, care must be taken to ensure that the test being used is both valid and reliable. A test is reliable if it consistently creates or measures accurate results time after time.

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Complete Question:

In the course of creating an effective business message, excellent business thinkers are most likely to Multiple Choice

begin jotting down a rough draft right away to capture their ideas.

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avoid using the other-oriented tone in their text.

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