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larisa86 [58]
3 years ago
6

During 2021, a company sells 21 units of inventory. The company has the following inventory purchase transactions for 2021: Date

Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 18 $ 52 $ 936 Sep. 8 Purchase 12 54 648 30 $ 1,584 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO.
Business
1 answer:
Ugo [173]3 years ago
5 0

Answer:

Cost of goods sold = 1,116

Ending inventory = 468

Explanation:

In LIFO (last in first out) method, the goods come in most recently will come out first when it comes to sales transaction. So, 21 units of sales during 2021 includes 12 units purchased at Sep.8 and 9 units of beginning balance:

Cost of goods sold during 2021 = 12 x 54 + 9 x 52 = 1,116.

Ending inventory value for 2021 = 1,584 - 1,116 = 468.

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Reason.<br>why<br>money? Give two<br>do people save​
Sedaia [141]

Answer:

I don’t know what your question is lol. If it’s why do people save money? here’s why.

emergency fund, purchases and wealth building. saving money is important because it helps protect you in the event of a financial emergency. Additionally, saving money can help you pay for large purchases, avoid debt, reduce your financial stress, leave a financial legacy, and provide you with a greater sense of financial freedom.

7 0
3 years ago
ABC Company produces Product X, Product Y, and Product Z. All three products require processing on specialized finishing machine
maria [59]

Answer:

400; 800

Explanation:

Contribution:

Product X:

= Selling price - Variable cost

= 100 - 70

= 30,

Product Y:

= Selling price - Variable cost

= 80 - 40

= 40,

Product Z:

= Selling price - Variable cost

= 25 - 20

= 5

Machine hours required :

Product X:

= Machine time per unit × Monthly demand

= 3 ×  300

= 900,

Product Y:

= Machine time per unit × Monthly demand

= 2 × 200

= 400,

Product Z:

= Machine time per unit × Monthly demand

= 1 × 500

= 500

Contribution per machine hour:

Product X = Contribution ÷ Machine time per unit

                 = 30 ÷ 3

                 = 10,

Product Y = Contribution ÷ Machine time per unit

                 = 40 ÷ 2

                 = 20,

Product Z = Contribution ÷ Machine time per unit

                = 5 ÷ 1

                = 5

It is highest for Y, so produce maximum amount of Y, then X and then Z

Y needs 400 hrs, we are left with 800 hours, so produce 800 hours of X.

3 0
4 years ago
Which of the following is a depository financial institution?
Darya [45]
The answer is "Online Bank"
4 0
3 years ago
Read 2 more answers
Analyze and describe how the fluctuating global market, organizational structure, and the technology revolution have impacted th
Lesechka [4]
<span>One result of the global economy is that trade between the United States and other countries has decreased. </span>
3 0
3 years ago
Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:
defon

Answer: $96,500

Explanation:

Manufacturing cost includes all the costs that went into production in a period including direct costs and manufacturing overhead:

= Direct materials + Direct labor + Manufacturing Overhead

Manufacturing overhead = Beginning work in process + Factory overhead - Ending work in process

= 11,200 + 52,600 - 11,800

= $52,000

Manufacturing cost = 19,500 + 25,000 + 52,000

= $96,500

3 0
3 years ago
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