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ZanzabumX [31]
2 years ago
12

Required information

Business
1 answer:
Triss [41]2 years ago
4 0

Answer:

1. Ending inventory = $3519

2. Cost of Goods Sold = $21030

3. Sales Revenue = $27279

4. Gross Profit = $6249

Explanation:

FIFO method of inventory valuation is whereby the stock that first comes into the business, leaves first. This is common in perishable inventory such as vegetables or fruits.

Jan 1. Beginning inventory: 53 units x $45 = $2385

Total

53 units x $45 = $2385

Apr 7. Purchase 133 units x $47 = $6251

Total

53 units x $45 = $2385

133 units x $47 = $6251

Jul 16. Purchase 203 units x $50 = $10150

Total

53 units x $45 = $2385

133 units x $47 = $6251

203 units x $50 = $10150

Oct 6. Purchase 113 units x $51 = $5763

53 units x $45 = $2385

133 units x $47 = $6251

203 units x $50 = $10150

113 units x $51 = $5763

1. Ending inventory = 502 - 433 = 69 hence,

69 units x $51 = $3519

2. Cost of Goods Sold =

[$2385 + $6251 + $10150 + (44 units x $51)] = $21030

OR $24549 - 3519 = $21030

3. Sales Revenue =

433 units x $63 = $27279

4. Gross Profit = Sales Revenue - Cost of Goods Sold hence,

$27279 - 21030 = $6249

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Answer:

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Explanation:

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3 0
3 years ago
In what way does the kettle falls five case illustrate a weakness of a federal system? choose the best answer.
almond37 [142]

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6 0
2 years ago
Costs that are incurred as part of the manufacturing process but are not clearly associated with specific units of product or ba
tensa zangetsu [6.8K]

Answer:

These costs are called overhead cost.

Explanation:

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These cost include accounting fees, advertising, depreciation expense insurance, interest, legal fees, labor burden, rent, repairs, supplies, taxes, telephone bills, travel expenditures, and utilities

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3 0
3 years ago
How much are these nails<br> have an estimate?
patriot [66]
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2 years ago
GenX has a target capital structure of 40 percent common stock, 5 percent preferred stock, and 55 percent debt. Its cost of equi
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Answer:

12.085 %

Explanation:

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