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Lana71 [14]
3 years ago
6

ABC Company just started business in August. They made the following purchases during August: August 01 300 units $1,560 total c

ost August 12 400 units 2,340 total cost August 24 400 units 2,520 total cost August 30 300 units 1,980 total cost A physical count on August 31 reveals that there are 500 units on hand. What is the value of ending inventory, using a FIFO?
Business
1 answer:
anastassius [24]3 years ago
8 0

Answer:

Inventory= $3,240

Explanation:

Giving the following information:

They made the following purchases during August:

August 01: 300 units $1,560 total cost

August 12: 400 units 2,340 total cost

August 24: 400 units 2,520 total cost (2520/400= $6.3)

August 30: 300 units 1,980 total cost (1980/300= $6.6)

A physical count on August 31 reveals that there are 500 units on hand.

FIFO (first-in, first-out)

Inventory= 300*6.6 + 200*6.3= $3,240

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Answer:

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7 0
2 years ago
Two independent companies, Denver and Bristol, each own a warehouse, and they agree to an exchange in which no cash changes hand
Schach [20]

Answer and Explanation:

The journal entries are shown below

1.

On Denver books

Equipment Dr $17,000

Accumulated depreciation $60,000

Loss on sale of equipment $3,000

                  To Equipment $80,000

(Being equipment recorded)

On Bristol books

Equipment Dr $17,000

Accumulated depreciation $25,000

          To Gain on sale of equipment $10,500

          To Equipment $31,500

(Being equipment recorded)

2.

On Denver books

Equipment Dr $20,000

Accumulated depreciation $60,000

                  To Equipment $80,000

(Being equipment recorded)

On Bristol books

Equipment Dr $6,500

Accumulated depreciation $25,000

          To Equipment $31,500

(Being equipment recorded)

7 0
3 years ago
What is a vital point for most marketers
IgorLugansk [536]
The <span>demographic segmentation. </span>
5 0
3 years ago
If there are too few respondents in the lowest income category, this category may be combined or merged with the next lowest cat
Nostrana [21]

Answer: E) Recoding

Explanation:

Recoding refers to the changing of a variable to better suit the needs for which the variable is being collected.

The variable's parameters can be redefined using recoding to either include more information or less so that the result can be more reflective of the situation on ground.

In mixing the lowest income category with the next lowest, recoding would have occurred.

5 0
3 years ago
Sanders, Inc., paid a $4 dividend per share last year and is expected to continue to pay out 60% of its earnings as dividends fo
maks197457 [2]

Answer:

The price of the stock today is $42.94

Explanation:

The price of a stock whose dividends are expected to grow at a constant rate is calculated using the constant growth model of Dividend Discount model approach. It bases the price of the stock on the present value of the expected future dividends. The price today under this model is calculated as follows,

P0 = D0 * (1+g)  /  r - g

Where,

  • D0 * (1+g) is the D1 or the dividend for the next year
  • r is the required rate of return
  • g is the growth rate in dividends

P0 = 4 * (1+0.052)  /  (0.15 - 0.052)

P0 = $42.938 rounded off to $42.94

6 0
3 years ago
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