1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zigmanuir [339]
3 years ago
10

The following units of an inventory item were available for sale during the year: Beginning inventory 7 units at $50 First purch

ase 17 units at $53 Second purchase 20 units at $59 Third purchase 18 units at $62 The firm uses the periodic inventory system. During the year, 35 units of the item were sold. The value of ending inventory using FIFO is a. $2,548 b. $1,997 c. $1,318 d. $1,647 Chat Conversation End Type a message...
Business
1 answer:
Angelina_Jolie [31]3 years ago
5 0

Answer:

d. $1,647

Explanation:

The computation of the ending inventory using the FIFO method under the  periodic inventory system is shown below:

But before that first we have to determine the ending inventory units which is

= Beginning inventory + first purchase units + first purchase units + first purchase units - sold units

= 7 units + 17 units + 20 units + 18 units - 35 units

= 27 units

Now the ending inventory is

= 18 units × $62 + 9 units × $59

= $1,116 + $531

= $1,647

You might be interested in
An electronics company has developed a new hand-held device. The company predicts that the start-up cost to manufacture the new
Leni [432]

Answer:

A) to calculate the break even point we can use the following:

break even point = fixed costs / contribution margin

break even point = 125,000 / (9 - 6.5) = 125,000 / 2.5 = 50,000 units

The company must sell over 50,000 units to make a profit

B) if the unit production costs increase 10%, the new unit cost will be $7.15, and the new break even point will be: 125,000 / (9 - 7.15) = 125,000 / 1.85 = 67,567.6 which we round up to 67,568 units.

Now the company must sell at least 67,568 units to make a profit

C) If the company wants to increase its product price to a level where the break even point is 50,000 units, then the new price should be $9.65.

The contribution margin must be $2.5, so if the production costs are $7.15, we just add $2.5 to get $9.65 per unit.

3 0
3 years ago
A frequent customer approaches you and says that lately, service has not been as good as it usually is at the restaurant where y
Helga [31]
You will say to the customer kindly I'm sorry for disappointing you I will do everything that is possible for service to be satisfy to you and tell me why do you say service isn't as good maybe I can make things better
6 0
3 years ago
The 2016 financial statements of The New York Times Company reveal average shareholders’ equity attributable to controlling inte
dusya [7]

Answer:

The formula for RNOA is net income divided by net operating assets.

29,068/354,414= 8.2%

Explanation:

6 0
3 years ago
Read 2 more answers
A firm uses a continuous review (Q) inventory system. Weekly demand for a product is normally distributed with a mean of 120 uni
Sidana [21]

Answer: 90.32%

Explanation:

Weekly demand (d) = 120

Standard deviation = 10

Lead time (l) = 4

Reorder point = 506

The reorder point is calculated as:

506 = 120 × 4 + Z × 10 × ✓4

Solving for Z will give us 1.3

Then, we check this in the z table which will give us p = 0.9032

Therefore, the service level is 90.32%.

8 0
3 years ago
The yield on a taxable money market mutual fund earning 3.0 percent is equivalent to a ____ percent yield on a tax-exempt money
Nezavi [6.7K]
<span>In order to calculate the yield after taxes to compare it to a tax-exempt money market fund we will need to subtract the taxes from the yield. The yield is 0.03 and taxes on that are 0.28. If you multiply those two you get 0.0084. If you subtract this from 0.03 you get 0.0216 which is equal to 2.16%.</span>
7 0
2 years ago
Other questions:
  • A drug interdiction program that successfully reduces the supply of illegal drugs in the United States likely will
    15·1 answer
  • The ____, an accord among 117 nations, called for lower tariffs around the world. a. European Union Accord b. North American Fre
    7·1 answer
  • Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess d
    9·1 answer
  • Erin works at a financial Institution. She has offered a housing loan to a customer. While carrying out the transaction, which l
    12·1 answer
  • An email message that appears legitimate arrives in your inbox from your bank and asks you to click on a link in the message and
    13·1 answer
  • craig thought he could earn $1,000 selling paintings in 6 months. instead, he made $1,200. what is the percentage difference?
    15·1 answer
  • Actimel is a dairy-based probiotic supplemental beverage made by Dannon. Originally, it was sold in organic food stores and only
    7·1 answer
  • An economist would say food stamps, Medicaid, and rent vouchers are ---41---​
    14·1 answer
  • Aggregate planning is capacity planning that typically covers a time horizon of one to three months. True or false?
    8·1 answer
  • 7.Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!