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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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Orb, Inc., does business online around the globe. The United Nations Convention on the Use of Electronic Communications in Inter
likoan [24]

Answer:

D. all of the choices

Explanation:

The UNC on the Use of Electronic Communications in International Contracts and other International agreements improve global commercial certainty by determining an Internet user´s location for legal purposes, by providing for the recognition of judgments by other nations´ courts and also by providing that e-signatures are the equivalent of signatures on paper.

6 0
3 years ago
cornelius owns grand games, a high-end store that retails games and toys that are handcrafted and carefully selected. cornelius
Nitella [24]

All of Cornelius’s activities are aimed at giving grand games a sustainable competitive advantage through <u>strategic positioning.</u>

  • Strategic positioning simply refers to the methods that a business can use in distinguishing itself from its competitors. It is the decision taken by a firm on how to serve the customers and deliver quality products to them.

  • Based on the information given, Cornelius owns a high-end store that retails games and toys that are handcrafted and carefully selected. Also, Cornelius targets customers who value artisanal work, this is referred to as strategic positioning.

In conclusion, the correct option is strategic positioning.

Read related link on:

brainly.com/question/24979995

8 0
3 years ago
Garcia Industries has sales of $187,500 and accounts receivable of $18,500, and it gives its customers 25 days to pay. The indus
Alex Ar [27]

Answer:

Additional net income will be $370.248

So option c is correct option

Explanation:

We have given rate of return on cash generated 8.0%

Total sales $187500

Account receivable = $18500

Days in Year 365

Sales per day = =\frac{187500}{365}=$513.698

Company DSO = =\frac{account\ receivable}{sales\ per\ day}=\frac{$18500}{513.698}=36.01

Industry DSO = 27 days

Difference = Company DSO – Industry DSO = 36.01-27 = 9.01

Cash flow from reducing the DSO = Difference × Sales per day = 9.01×513.698 = 4628.1

Additional Net Income = Return on cash × Added cash flow = 0.08×4628.1 = 370.248

So option (c) will be correct option

4 0
4 years ago
Flingers Inc. reveals the following information in their annual report for FY 2017. Earnings and Expenses Sales ​$10,000,000 Cos
babunello [35]

Answer:

What will​ Flingers' profit margin be for​ 2018?

Profit Margin  $750,000  

Explanation:

  • These are the results of 2017 without changes in the cost of goods.

Income Statement 2017

Sales                                   10,000,000  

Cost of Goods Sold         -5,000,000  

Net Income                         5,000,000  

Non Operating Expenses -4,500,000  

Net Income After Taxes  $500,000     5%

  • When the improvements are made , the company has an efficiency in the cost of goods, it will report a better profit margin.

Income Statement         2018

Sales                                   10,000,000  

Cost of Goods Sold        -4,750,000  

Net Income                           5,250,000  

Non Operating Expenses -4,500,000  

Net Income After Taxes     750,000     7,5%

8 0
4 years ago
All production costs have been steadily rising at Donner Company for several periods. In this environment, Donner Company’s cost
yKpoI14uk [10]

Answer:

b. higher than that computed under the weighted average method.

Explanation:

FIFO uses inventory evaluation such that the ending inventory cosists of the most recent purchases. Therefore the ending inventory consists of only the highest priced units.

The weighted average method uses process in which all the units have been uniformly valued. Therefore the weighted average ending inventory consists of units priced lower than the FIFO ending inventory during constantly rising prices.

The weighted average inventory would consist of both low priced and high priced units that are averaged which automatically is lower than the most recent high priced units.

5 0
3 years ago
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