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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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Knowing what stage of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions.

<h3>What is the product life cycle?</h3>

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What happens if the amount of Bad Debt Expense is overstated at year end? A : Net income will be overstated. B : Allowance for D
Yuri [45]

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D. Net Accounts Receivable will be understated

Explanation:

5 0
3 years ago
Younie Corporation has two divisions: the South Division and the West Division. The corporation's net operating income is $95,40
zalisa [80]

Answer:

$122,500

Explanation:

Calculation for the amount of the common fixed expense not traceable to the individual divisions

First step is to calculate Total segment margin

Total segment margin = $43,600 + $174,300

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Now let calculate the Common fixed expense

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8 0
3 years ago
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Answer:

$444,444.44

Explanation:

Larry's life insurance corporation is trying to sell an investment policy that will pay you and your heirs a total amount of $32,000 per year

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= $444,444.44

Hence the amount of money that will be paid for the policy is $444,444.44

4 0
3 years ago
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