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Karolina [17]
3 years ago
15

Determine the cost of merchandise sold for the transaction on October 8 using the perpetual inventory system and the LIFO method

. Date Item Units Cost Total Beginning inventory 5 $10 $50 October 4 Purchase 8 12 96 October 8 Sale 6 October 20 Purchase 15 14 210 October 25 Sale 12
a.$96
b.$72
c.$210
d.$62
Business
1 answer:
Ira Lisetskai [31]3 years ago
7 0

Answer:

b.$72

Explanation:

The computation of the cost of merchandise sold using the LIFO method for October 8 is shown below:

Since on October 8, the 6 units are sold

So under the LIFO method, the 6 units rate is taken from the October 6 i.e $12

So, the cost of merchandise sold is

= 6 units × $12

= $72

All the other information which is mentioned in the question is not relevant. hence, ignored it

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Aleksandr [31]
I'm pretty sure it's D- All of the above
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3. True or False. An advance payment received in June 2019 by an accrual basis and calendar year taxpayer for services to be pro
stepladder [879]

Answer:

True

Explanation:

In this case, the advancement payment can help with the payment of the money owned by the taxpayer over a definite period of time. This enables a step-wise payment of the monies that will be owed over a flexible time period, in this case, the period of 36 months that translates to the three-year period. In this period, the tax can be paid in small amounts with an increment in the interest as applicable.

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Kasey changes jobs on a regular basis. She does this to secure better career growth opportunities and to decrease boredom. Kasey
topjm [15]

Answer:

The correct answer is letter "C": job hopping.

Explanation:

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3 0
3 years ago
Here are the cash flows for two mutually exclusive projects: Project C0 C1 C2 C3 A −$ 34,400 +$ 13,700 +$ 13,700 +$ 13,700 B − 3
Natali [406]

Answer:

7.89%

Explanation:

We can find the IRR of Project A and Project B is 9% and 8% respectively

(please see the calculation in excel in attachment)

So if the interest rate below 8% then Project A is more profitable than project B.

You can find NPV of each project follow the decrease in interest rate in the excel attached.

Download xlsx
5 0
3 years ago
In order to produce a new product, a firm must lease new equipment. The managers feel that they can sell 10,000 units per year a
kogti [31]

Answer:

The most the firm can spend to lease the new equipment without losing money=$75,000

Explanation:

The point at which the revenue in terms of sales equals the cost is the break-even point. This can be expressed as;

R=C

where;

R=revenue from sales

C=cost

And;

R=P×N

where;

R=revenue from sales

P=price per unit

N=number of units

In our case;

P=$7.5 per unit

N=10,000 units

replacing;

R=7.5×10,000=$75,000

Total revenue from sales=$75,000

C=p×n

where;

p=cost per unit

n=number of units

In our case;

p=$5

n=unknown

replacing;

C=5×n=5 n

At break-even point, R=C;

5 n=75,000

n=75,000/5=15,000

The break-even cost=5×15,000=$75,000

The most the firm can spend to lease the new equipment without losing money=$75,000

5 0
3 years ago
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