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
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.

You might be interested in
_____ studies the whole economy, such as investments made by all consumers and businesses.
Jet001 [13]
I think that it is Macroeconomics
6 0
3 years ago
Read 2 more answers
How do you know that clicking on an item in a menu will display a submenu?
Assoli18 [71]
The item is followed by three dots
4 0
3 years ago
Which of the following series uses commas​ correctly?
Serjik [45]
Incorrect. You don’t need a comma after “crocodiles” or before “other”
7 0
3 years ago
Which ethical approach typically focuses on the attainment of fair and equitable distribution of economic goods and services?
SVETLANKA909090 [29]

Answer:Social justice theory

Explanation:Social justice is a concept which encourages fair and just relationship in terms of how wealth, opportunities are distributed amongst society and individuals.

It encourages that no one shall be deprived of equal access to certain resources and thatg everyone must get their share and thatt shall not be taken away from them.

4 0
3 years ago
Reddit, Digg, and StumbleUpon are examples of popular
Arte-miy333 [17]

Answer:

social bookmarking sites

Explanation:

Reddit, Digg and StumbleUpon are all Web sites dedicated to social bookmarking.

They fetch the contents from other Web sites and encourage their users to share their preferences on what they like and see all over the Internet with their friends.

They're not social networks per say because people aren't directly in contact with each other, only through their shared contents.

They're not tech blogs, because they rarely have any original contents and they're not targeting only technologies.

They're not video sites either, because they're sharing all kinds of contents.

8 0
3 years ago
Other questions:
  • A candy manufacturer that made candy at a lower cost without improving the quality of the candy could be said to ________. incre
    6·1 answer
  • Hudek Inc., a manufacturing Corporation, has provided the following data for the month of July. The balance in the Work in Proce
    9·1 answer
  • Suppose you wanted to start an animal-breeding business. for most of the following animals, you could start out with just a sing
    13·1 answer
  • Which of the following is NOT a characteristic of a consumer market?A) It consists of purchasers who intend to consume or benefi
    8·1 answer
  • Columbia Products produced and sold 900 units of the company's only product in March. You have collected the following informati
    5·1 answer
  • Answer the following questions​ (a) at zero output level if total cost is​ $100 what will be values of total variable cost and t
    6·1 answer
  • An inexperienced accountant for Cheyenne Corp. showed the following in the income statement: income before income taxes $371,000
    13·1 answer
  • Graham’s team recently completed a project, and Graham has to provide feedback to the different team members. He is nervous abou
    9·1 answer
  • According to Mintzberg and others, the roles of the global leader includes the ability to advocate and represent the company. In
    13·1 answer
  • N the most commonly used land appraisal form, which is not one of the line items that are listed for adjustment?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!