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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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Inflation can impose significant costs and adversely distort economic systems. Indicate whether the costs and distorting effects
kaheart [24]

Answer:

1. Menu costs

- Can lead to stores listing prices in more stable currencies.

- Causes costs associated with changing prices in stores.

2. Shoe-leather-costs

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3. Unit-of-account costs

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3 years ago
What are features in personal finance?
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Answer:

Account. Manage your money.

Card. Spend anywhere.

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Payments. Bank transfers.

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Explanation:

4 0
3 years ago
Yellow, Inc. manufactures teddy bears and dolls. Currently, Yellow makes 2,000 teddy bears each month. Each teddy bear uses $2.0
makvit [3.9K]

The total manufacturing cost for one teddy bear is $8.

<h3> Total manufacturing cost</h3>

Total manufacturing cost for one teddy bear:

Total manufacturing cost=$2.00 + $0.50+ [($15,000× 1/2)/2,000] + [($10,000 × 35%)/2,000]

Total manufacturing cost=$2.00 + $0.50 + ($7,500/2,000) + ($3,500/2,000)

Total manufacturing cost=$2.00+ $0.50 + $3.75+ $1.75

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Learn more about  total manufacturing cost here:brainly.com/question/13767214

7 0
2 years ago
Marin Inc. purchased a tractor trailer for $138000. Marin uses the units-of-activity method for depreciating its trucks and expe
Ket [755]

Answer:

$9,760

Explanation:

For computing the depreciation expense first we have to find out the depreciation rate which is shown below:

The computation of the depreciation per miles under the units-of-production method is shown below:

= (Original cost - residual value) ÷ (estimated miles)

= ($138,000 - $16,000) ÷ (1,000,000 miles)

= ($122,000) ÷ (1,000,000 miles)

= $0.122 per miles

Now for the first year, it would be

= Miles driven in first year × depreciation per miles

= 80,000 miles × $0.122 per miles

= $9,760

8 0
3 years ago
Q 8.18: The financial statements of the Harrison Company report net sales of $200,000 and accounts receivable of $10,000 and $5,
Tomtit [17]

Answer:

The answer is $13.5 days

Explanation:

The average collection period for accounts receivable in days in a year is the number of days from selling goods and services on credit and the day it takes to receive cash.

It is calculated as average accounts receivable divided net sales multiply by the number of days in a year.

In the question, let's take the number of days in a year as 360days.

Average Accounts Receivable is

$10,000 + $5,000

$7,500.

Therefore, the number if days is now:

($7,500/$200,000) x 360days

=13.5 days

8 0
3 years ago
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