1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
saul85 [17]
3 years ago
8

The following lots of a particular commodity were available for sale during the year: Beginning inventory 5 units at $61 First p

urchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year. What is the amount of cost of merchandise sold for the year according to the LIFO method?
a.$1,510
b.$1,375
c.$1,380
d.$1,250
Business
1 answer:
AURORKA [14]3 years ago
8 0

Answer: Option (a) is correct.

Explanation:

Given that,

Beginning inventory = 5 units at $61

First purchase = 15 units at $63

Second purchase = 10 units at $74

Third purchase = 10 units at $77

Ending inventory = Beginning inventory × $61 + First purchase × $63

                            = 5 units × $61 + 15 units × $63

                            = $1,250

Cost of goods sold = Second purchase × $74 + Third purchase × $77

                                = 10 units × $74 + 10 units × $77

                                = $1,510

You might be interested in
A company has a selling price of $1,300 each for its printers. Each printer has a 2 year warranty that covers replacement of def
riadik2000 [5.3K]

Answer:

$56,000

Explanation:

The computation of the warranty expense for the month of November is shown below:

Warranty expense = Number of printers × Estimated percentage of defectives parts × Average cost per printer

= 20,000 printers × 2% × $140

= 400 × 1460

= $56,000

We simply multiplied the number of printers with the estimated percentage and the average printer cost so that the warranty expense could come

3 0
3 years ago
Adam was found to have used his license to procure insurance for relatives and it was also discovered that he was issuing rebate
Temka [501]

Adam's license will be suspended or revoked. It's because he was determined to have used his license to obtain insurance for family members and because it was found that he was giving insureds rebates.

After being found guilty of a significant traffic infraction, failing a road test, or providing false information on a government form, a license is frequently cancelled. One of the best rights is the ability to drive, therefore it's critical to understand whether your license is suspended or revoked as well as your options if it is. An "Administrative Review Suspension" is a unique classification of suspension used in several jurisdictions. This is given to persons whose medical conditions make it risky for them to operate a motor vehicle. Before relieving the suspension, the DMV may occasionally require written confirmation from the physician.

#SPJ4

4 0
2 years ago
A person can file for trademark protection even if he or she has not yet used the trademark.
vova2212 [387]
The answer is true :)
7 0
3 years ago
Read 2 more answers
Accenture's Security practice makes use of a number of accelerators when building solutions for our clients. What is the purpose
Vilka [71]

Answer:

To deploy and integrate security features in a shorter period of time

Explanation:

Given that accelerator in cybersecurity is a means of enhancing the implementation and information of security measures in a very faster way.

Therefore, the purpose of Accenture's Security practice of using several accelerators when building solutions for their clients is "to deploy and integrate security features in a shorter period of time."

6 0
3 years ago
Tide Corporation has traditionally made a subcomponent of its major product. Annual production of 30,000 subcomponents results i
poizon [28]

An amount of $24 per unit will need to be charged by the outside supplier to make Tide be indifferent between making or buying the subcomponent.

Relevant cost per unit to make = (Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead) / Total sub-component unit

Relevant cost per unit to make = ($250,000 + $200,000 + $190,000 + $80,000) / 30,000 units

Relevant cost per unit to make = $24

Hence, the  indifferent price is $24 per unit

Therefore, an amount of $24 per unit will need to be charged by the outside supplier to make Tide be indifferent between making or buying the sub-component.

Read more about  indifferent price:

<em>brainly.com/question/24516871</em>

8 0
3 years ago
Other questions:
  • Luxury automobile manufacturers typically add​ quality, services, and other features to differentiate their offers and thus supp
    15·2 answers
  • Tom and his managers are discussing the unemployment, inflation, and interest-rate trends that might affect their chain of coffe
    10·1 answer
  • In evaluating how well a company's strategy is working, the best place to start is
    13·1 answer
  • All of the following are ways that you as a teen or young adult can improve your credit score EXCEPT...
    8·1 answer
  • 39. Dan is working with a private employment agency to find a job. He signs an agreement to pay $350 to the
    13·1 answer
  • Reeves Co. filed suit against Higgins, Inc., seeking damages for copyright violations. Higgins' legal counsel believes it is pro
    10·1 answer
  • What is the ultimate purpose of the system of checks and balances?
    13·1 answer
  • The risk-free rate of return is 2% and the expected return on the market portfolio is 8%. Oklahoma Oilco has a beta of 2.0 and a
    11·1 answer
  • if a business owner becomes aware of a shortage in the market for the good or service he or she produces, he or she is likely to
    5·1 answer
  • Which is considered to be a coincident economic indicator? a stock market prices b corporate profits c index of industrial produ
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!