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Alina [70]
3 years ago
8

On December 1, Flint Electronics has three DVD players left in stock. All are identical, all are priced to sell at $77. One of t

he three DVD players left in stock, with serial #1012, was purchased on June 1 at a cost of $47. Another, with serial #1045, was purchased on November 1 for $43. The last player, serial #1056, was purchased on November 30 for $36.
Calculate the cost of goods sold using the FIFO periodic inventory method, assuming that two of the three players were sold by the end of December, Flint Electronics' year-end.
The cost of goods sold using the FIFO ______.
Business
1 answer:
faust18 [17]3 years ago
4 0

Answer: $90

Explanation: closing stock as at November ending is 3, consisting of:

1 DVD bought on 1st June @ $47

1 DVD bought on 1st Nov @ $43

1 DVD bought on 30th Nov @ $36

using FIFO (First in first Out) inventory method, 2 of the DVD was sold as at the end of December.

Cost of goods sold in the month of December is $47 +$43 = $90

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During the month of february, victor services had cash receipts of $7,500 and cash disbursements of $8,600. the february 28 cash
Charra [1.4K]

So you would simply need to set up a formula and solve

X= beginning cash

X+ income - expenses = cash balance

income = cash receipts (7,500)

expenses = cash disbursements (8,600)

Cash Balance = 1,800

Plug into the equation

X + 7,500 - 8,600 = 1,800

Then you would solve for X

8 0
3 years ago
Read 2 more answers
RST Company produces a product that has a variable cost of $6 per unit. The company's fixed costs are $30,000. The product sells
Sonja [21]

Answer:

$75,000

Explanation:

The computation of the revised break-even point in dollars is shown below:

Break even point = (Fixed expenses) ÷ (Profit volume Ratio)  

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit  

= $10 - $4

= $6

And, Profit volume ratio = (Contribution margin per unit) ÷ (selling price per unit) × 100

So, the Profit volume ratio = ($6) ÷ (10) × 100 = 60%

And, the fixed expenses is $30,000 + $15,000 = $45,000

Now put these values to the above formula  

So, the value would equal to  

= ($45,000) ÷ (60%)  

= $75,000

8 0
3 years ago
Requiring employees to scan a unique badge to enter your facility is an example of:_________
pentagon [3]

Requiring employees to scan a unique badge to enter your facility is an example of facility access controls.

An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for the work by your employer (the person or company that pays your wages).

You should take care of your employees as much as you take care of your customers. If you trust and value your employees, they will be more committed to serving your customers well and ultimately contributing to your company in a great way.

Learn more about employees here:brainly.com/question/1190099

#SPJ4

4 0
2 years ago
The infant industry argument says that Question 7 options: tariffs should be imposed to allow a new industry in a country to get
Nesterboy [21]

Answer:

The infant industry argument says that Question 7 options:

tariffs should be imposed to allow a new industry in a country to get established.

Explanation:

The argument for the infant industry protectionism suggests that the imposition of tariffs on imports gives a new industry in the country the required breathing space it requires to develop, grow, and be established before it can face competitive forces from outside, which imports imply.  Since newly formed industries often do not command the economies of scale and learning experience that their competitors from other countries may have, therefore, they need to be singularly shaded from external competition until they have achieved similar economies of scale and learning curve.  But, can they attain any competitive edge without learning from competitors?

6 0
3 years ago
Alternative A has a rate of return of 14% and Alternative B has a rate of return of 17%. If the investment required in B is larg
charle [14.2K]

Answer:

The answer is "larger than 17%".

Explanation:

Assume the sum of investment as B is more than A:

In part A:  

                                                                        A                    B           Increment

Purchase(assumed)                                          100              150                   50  

Departure Rate                                                   14%              17%                

Return                                                                 14                25.5               11.5      

The rate of return increases( \frac{11.5}{50} \times 100)                                                       23      

In part B:  

                                                                         A                    B           Increment

Purchase(assumed)                                          100              120                   20  

Departure Rate                                                  14%              17%                

Return                                                                 14                20.4               6.4      

The rate of return increases( \frac{6.4}{20} \times 100)                                                        32      

8 0
3 years ago
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