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Lesechka [4]
3 years ago
15

Use the information below to answer the following question. The following lots of a particular commodity were available for sale

during the year: Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year. What is the amount of cost of merchandise sold for the year according to the LIFO method?
Business
1 answer:
Andreas93 [3]3 years ago
8 0

Answer:

$1,510

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

The business had a total of 40 inventories.

The inventories sold = 40 - 20 = 20

The cost of the goods sold would first be alloted to the 3rd purchased inventory = 10 x $77 = $770

The remaining cost of goods sold would be allocated to the 2nd purchase of inventory = 10 x $74 = $740

Total = $740 + $770 = $1,510

I hope my answer helps you

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Answer: c. it ensures productive efficiency.

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This is vital as it brings about productive efficiency, increase production and also the reduction in the price of a good.

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Which of the following examples should make a consumer leary to purchase from a business?
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A. Limited information about the establishment on the company’s website.

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Therefore the correct answer is option A. Limited information about the establishment on the company’s website.

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You are the CFO of a publicly-traded company in a very competitive industry. You are preparing the annual report and SEC filings
tankabanditka [31]

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3 0
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A Scrum Team often runs into following issues: Conflicting requirements from different departments, ad-hoc work requests from di
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Correct answer is Issues with Product Owner responsibilities.

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business stakeholders, maintaining Product Backlog, participating in Scrum events, etc.

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2 years ago
Your grandmother put some money in an account for you on the day you were born. This account pays 8% interest per year. On your
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Answer:

C. $1,000

Explanation:

The computation amount is shown below:-

Interest rate per period = Interest rate per annum ÷ Number of compounding per annum

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Therefore for computing the present value we simply applied the above formula.

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