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Brums [2.3K]
3 years ago
6

The inventory data for an item for November are: Nov. 1 Inventory 20 units at $19 4 Sold 10 units 10 Purchased 30 units at $20 1

7 Sold 20 units 30 Purchased 10 units at $21 Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
Business
2 answers:
QveST [7]3 years ago
8 0

Answer:

Cost of goods sold = <em> $590</em>

Explanation:

<em>Under the last in first out (LIFO), inventories are priced using the price of the lastest batch in stock and then the next second latest batch and so on.</em>

<em>The cost of goods sold would be </em>

Nov 4   -  10 × $19 = $190

Nov 17   -  20 × $20 = $400

<em>Cost of sold =  190 + 400 = </em><em>$590</em>

irga5000 [103]3 years ago
5 0

Answer:

The cost of the goods sold was

4 Nov-Sold 10 units at $19

17 Nov- Sold 20 units at $20

Explanation:

LIFO Perpetual table is attached.  

The table shows purchases, sales and balance of each period.

The cost of the goods sold for November if the company uses LIFO

4 Nov-Sold 10 units at $19

17 Nov- Sold 20 units at $20

Download xlsx
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Answer:

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In this stage responsibilities among group member is divided on the basis of  their skills.  During this stage members start to cooperate with other co members. A bonding among the members is start to developed which result in understanding each other contribution and identity. The main advantage of this understanding is that conflicts and misunderstanding issues has been  resolved at faster rate.

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4 years ago
If your average is an 83 and you took a test and made a 80 on it what is your average then?
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The correct answer would be 81
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3 years ago
Using the liquidity-preference model, the Federal Reserve can react to the threat of exceedingly high inflation via monetary pol
stich3 [128]

Answer:

left as well as the contractionary monetary policy, then bring about the

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Explanation:

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3 years ago
Your $6100 investment grows to $12200 over the course of 9 years compounded quarterly. what interest rate did you receive on you
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The formula is
A=p (1+r/k)^kt
A future value 12200
P present value 6100
R interest rate ?
K compounded quarterly 4
T time 9 years

Set the equation and solve for r (interest rate)
12200=6100 (1+r/4)^(4×9)
Divide both sides by 6100
12200/6100=(1+r/4)^(36)
2=(1+r/4)^(36)
Take the root of 36 for both sides
2^(1/36)=1+r/4
R= (2^(1/36)-1)×4
R=(2^(1÷36)−1)×4
R=0.0778×100
R=7.78%

Hope it helps!
6 0
3 years ago
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