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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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Data concerning Farm Corporation's single product appear below: Selling price per unit $ 320.00 Variable expense per unit $ 76.8
lara [203]

Answer:

$224,000

Explanation:

Contribution margin = Selling price - Variable cost

= $320 - $76.8

= $243.2

Contribution margin ratio = Contribution margin / Sales

= $243.2 / $320

= $0.76 × 100

= 76%

Break even point = Fixed cost / Contribution margin ratio

= $170,240 / 76%

= $224,000

7 0
3 years ago
Teal Company sells televisions at an average price of $814 and also offers to each customer a separate 3-year warranty contract
ki77a [65]

Answer:

A.

Dr Cash 266,178

Cr Sales Revenue 243,741

Cr Unearned Warranty Revenue 22,437

b)Current Liabilities:Unearned Warranty Revenue 90,579

Long-term liabilities:Unearned Warranty Revenue 181,158

Explanation:

Teal Company

A.

Dr Cash (814*327) 266,178

Cr Sales Revenue 243,741

Cr Unearned Warranty Revenue (277*81) 22,437

b)Current Liabilities:Unearned Warranty Revenue 90,579

(327×277)

Long-term liabilities:Unearned Warranty Revenue 181,158

(90,579×2)

4 0
3 years ago
Two alternatives, code-named X and Y, are under consideration at Guyer Corporation. Costs associated with the alternatives are l
sergejj [24]

Answer:

It will be a financial disadvantage of Alternative Y over Alternative X

which menas, alternative X is better as their work is lower.

Explanation:

\left[\begin{array}{cccc}&X&Y&$Differential\\$Material cost&-43000&-62000&-19000\\$Processing cost&-47200&-47200&0\\$Equipment rent&-17800&-17800&0\\$Occupancy cost&-16800&-25100&-8300\\&&&0\\$Total&-16800&-25100&-8300\\\end{array}\right]

6 0
3 years ago
according to liquidity preference theory, a decrease in money demand for some reason other than a change in the price level caus
inna [77]

According to liquidity preference theory, a drop-off in money demand for some ground other than a change in the price degree causes The interest rate to go down, so the aggregate demand shifts.

<h3>What is aggregate demand?</h3>

The total amount of goods and services produced in an economy is the measurement of the aggregate demand.

The aggregate demand is shown as the total amount of money is exchanged at the particular price level and point in time.

Thus,  The interest rate to go down,

For more details about aggregate demand, click here:

brainly.com/question/13000505

#SPJ4

8 0
2 years ago
You purchased a share of stock for $53. One year later you received $3.00 as dividend and sold the share for $52. Your holding-p
GalinKa [24]

Answer:

the holding period return is 3.77%

Explanation:

The computation of the holding period return is shown below:

Holding period return is

= (Income + (Selling price - Purchase price)) ÷ Purchase price

= ($3 + ($52 - $53)) ÷ 53

= 3.77%

Hence, the holding period return is 3.77%

We simply applied the above formula so that the correct value could come

And, the same is to be considered  

3 0
2 years ago
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