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Sergio [31]
3 years ago
10

The following information pertains to Julia & Company: March 1 Beginning inventory = 33 units @ $5.70 March 3 Purchased 14 u

nits @ 4.40 March 9 Sold 22 units @ 9.00 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Business
1 answer:
Viefleur [7K]3 years ago
8 0

Answer:

The cost of the 22 units sold is 107,20

Explanation:

LIFO Perpetual chart is attached.

It shows purchases, sales and balance of each period. To get the cost of goods sold we must see the sales column  

Units  Unit Cost        Total

14      $4,40             $61,60

8      $5,70            $45,60

Total=$61,60 +$45,60=107,20

Download xlsx
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Lennon, Inc. is considering a five-year project that has an initial outlay or cost of $80,000. The respective future cash inflow
SIZIF [17.4K]

Answer:

26.16%

Explanation:

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be determined using a financial calculator

CO = -80,000

C1 = $15,000

C2 = $25,000

C3 = $35,000,

C4 = $45,000

C 5 = 55,000

IRR = 26.16

To determine IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

4 0
2 years ago
The company that relies on computer and telecommunications technologies instead of physical presence for communication between e
Lena [83]

Answer:

A remote company or Telecommuting company

Explanation:

Telecommuting (also known as working from home, or e-commuting) is a work arrangement in which the employee works outside the office, often working from home or a location close to home

7 0
3 years ago
You're about to buy a new car for $10,000. The dealer offers you a one-year loan where you pay $860.66 every month for the next
WINSTONCH [101]

Answer:

The actual effective annual rate is <u>3.33%</u>.

Explanation:

Effective Annual Rate (EAR) refers to an interest rate has been adjusted for compounding over specified period of time.

Effective annual rate can therefore be described as the interest rate that paid to an investor in a year after compounding has been adjusted for.

Effective annual rate can be computed using the following formula:

EAR = [(1 + (i / n))^n] - 1 .............................(1)

Where;

i = Annual interest rate claimed by the dealer = 3.28%, or 0.0328

n = Number of compounding periods or months = 12

Substituting the values into equation (1), we have:

EAR = [(1 + (0.0328 / 12))^12] - 1 = 0.0332976137123635

EAR = 0.0333, or 3.33% approximately.

Therefore, the actual effective annual rate is <u>3.33%</u>.

4 0
3 years ago
Discuss why it is important to establish control on the R chart first when using and R control charts to bring a process into st
Tanya [424]

Answer:

See below

Explanation:

The importance of establishing control in this case stems from the fact that as the points in these type of charts exceed beyond the set limits, it is possible that those points get eliminated and a revised value of R can be obtained. Accordingly, the limits and the center line also get revised on an R chart and x chart. This also allows for the limits to get tighter on both of the charts.

5 0
2 years ago
Samuel is the managing general partner of STU, in which he owns a 25% interest. For the year, STU reported ordinary income of $4
Norma-Jean [14]

Answer:

$220,000

Explanation:

Calculation to determine How much income from self-employment did Samuel earn from STU

Using this formula

Income from self-employment =Guaranteed payment received+(Interest rate*Ordinary income)

Let plug in the formula

Income from self-employment=$120,000+(25%*$400,000)

Income from self-employment=$120,000+$100,000

Income from self-employment=$220,000

Therefore the amount of income from self-employment that Samuel earn from STU is $220,000

7 0
3 years ago
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