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Pavel [41]
2 years ago
6

The following lots of a particular commodity were available for sale during the year:Beginning inventory 10 units at $60First pu

rchase 25 units at $65Second purchase 30 units at $68Third purchase 15 units at $75The firm uses the periodic system and there are 25 units of the commodity on hand at the end of the year.What is the amount of the inventory at the end of the year using the FIFO method?
$1,685$1,575$1,805$3,585
Business
1 answer:
zlopas [31]2 years ago
3 0

Answer:

$3,585

Explanation:

The computation under the FIFO method is shown below:

The total purchase units equal to

= 10 units + 25 units + 30 units + 15 units

= 80 units

Out of 80 units, the 25 units are sold, so the remaining 55 units are come under the ending inventory. The classification is shown below:

10 units at $60 = $600

25 units at $65 = $1,625

20 units at $68 = $1,360

So, the total would be

= $600 + $1,625 + $1,360

= $3,585

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ivolga24 [154]

A mortgage clause that states that the mortgage is due and payable upon certain conditions, such as the non-payment is the option(d) i.e, the Acceleration clause.

<h3>What is a mortgage clause?</h3>

A provision in an insurance policy (such as a fire insurance policy) that allows the designated mortgage to receive payment for property damage or loss.

There are different types of clauses:

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If the borrower breaches the conditions of the agreement, an acceleration clause in a mortgage or trust deed states that the entire obligation is payable immediately. Additionally, it will specify the circumstances under which a lender may request full loan payback. For instance, home loans frequently feature an acceleration provision that kicks in after a certain number of missed payments.

Most of the time, it is harmful to accelerate a loan. Typically, it denotes that the borrower has fallen behind on payments or broken the terms of the agreement, and the lender is requiring prompt repayment of the whole loan balance to avoid foreclosure.

To know more about mortgage clause refer to: brainly.com/question/13964240

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8 0
1 year ago
3. There are concerns about an increase in unemployment due to the slowdown in manufacturing. a) What effect would an increase i
Vikki [24]
Equilibrium wage means that it is the wage paid on employees where supply and demand are equal.

All persons looking for work at the going wage will be able to find jobs in an equilibrium setting.

an increase in the unemployment rate will result to a decrease on the equilibrium wage.
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3 years ago
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2. A closer estimate of the total cost can be made by including the estimated sales tax. Use a formula to calculate the estimate
Kazeer [188]

Answer: Hello  your question has some missing details hence I will provide an answer based on the general scope of your question

answer ; =([Cost] * 1.07)

Explanation:

Assuming the table heading for estimated cost in July 2014 is named "Cost"

Total estimated cost

Total =  Cost * ( 1 + Sales Tax )

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Excel  equivalent formula used that can be used  = ([Cost] * 1.07)

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Answer:

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