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max2010maxim [7]
3 years ago
11

During January, LexPro Co., which maintains a perpetual inventory system, recorded the following information pertaining to its i

nventory:
Unit Total Units
Units Cost Cost On hand
Balance on 1/1 1,000 $1 $1,000 1,000
Purchased on 1/7 600 3 1,800 1,600
Sold on 1/20 900 700
Purchased on 1/25 400 5 2,000 1,100

Under the moving-average method, what amount should LexPro report as inventory at January 31?
Business
1 answer:
diamong [38]3 years ago
3 0

Answer:

$3,225

Explanation:

The computation of the amount reported as an ending inventory is shown below:

Date Particulars Units   Cost Amount                

1 -1        Op Balance     1,000         $1            $1,000  

1 -7         Purchases      600          $3             $1,800

Total                              1,600    $1.75         $2,800  

                                              ($2,800 ÷ 1,600 units)  

1 -20 COGS           900      $1.75            $1,575

Total                              700     $1.75            $1,225

1 -25       Purchases     400     $5                 $2,000

Ending inventory         1,100    $2.9318       $3,225

                                                  ($3,225 ÷ 1,100 units)  

We simply added the purchase units with the opening balance and deduct the cost of goods sold units from the opening balance so that the correct ending inventory amount could arrive

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You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .6 percent per year, co
kolezko [41]

Answer:

Total interest paid = $606.63

Explanation:

First calculate the monthly payment for first six months

Monthly interest for first 6 months =.006/12=.0005

= 6500*(1.0005)^6

=6519.52

Interest rate for next six months

=17.37%/12=1.45%

(1.0145)^6=1.090054

=6519.52*(1+.0145)^6

=7106.63

Total interest paid = 7106.63-6500  

Total interest paid = 606.63

7 0
3 years ago
In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Swedish adult non-institutionalized po
11Alexandr11 [23.1K]

Answer:

a. 64.6% and 8.2%

Explanation:

The computation is shown below:

For labor force participation rate

= Labor force ÷ Total population × 100

= 4.888 million ÷ 7.568 million

= 64.60%

And, the unemployment rate is

But before that the employment rate is

= Labor employed ÷ labor force × 100

= 4.486 million ÷ 4.888 million

= 91.77%

Now the  unemployment rate is

= 100% - employment rate

= 100% - 91.77%

= 8.2%

5 0
3 years ago
Which of the following sites is not one of the New Seven Wonders of the World?
marta [7]

Answer:

The Western Wall, Israel

Explanation:

The Western Wall in Israel isn't one of the new seven wonders of the world.

The New7Wonders of the world are:

Great Pyramid of Giza, Egypt.

Petra, Jordan

Taj Mahal, India

Chichen Itza, Yucatán, Mexico

Christ The Redeemer, Rio De Janeiro, Brazil

Great Wall of China, China

Other places are Machu Picchu, Peru and The Colosseum, Rome, Italy.

5 0
3 years ago
What is the craziest drink you've gotten at starbucks or dunkin? Tell me the size, how many pumps of syrups (if you get any) and
Nataliya [291]

Peppermint Frappé ( Seasonal ) with 17 pumps of peppermint !!!

6 0
2 years ago
For example, the sticky-price theory asserts that the output prices of some goods and services adjust slowly to changes in the p
mixas84 [53]

Answer:

1. Fall

2. Reducing

3. Fall Below

Explanation:

1. FALL. Due to the Menu Costs (costs to suppliers of having to constantly update prices) of inflation being too high for the Catalogue sellers. They leave the prices where they are at 100. Prices have fallen to 90 though so people will therefore buy less from catalogues as they will be considered more expensive.

2. REDUCING. Firms dealing with Catalogues will respond by reducing output. The more output they supply, the more variable costs they deal with. Seeing as their Demand has fallen leading to a reduction in profitability, they will scale back operations to try to spend less and also because less people are buying output.

3. Fall Below. The Quantity of output supplied was dependant on a price level of 100. That was where the natural rate was. Now as prices have fallen and quantity supplied have gone with them, the effect would be a fall Below the Natural Output Level.

If you need any clarification do react or comment.

8 0
2 years ago
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