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3 years ago

Kingbird, Inc. has the following inventory data:

Business

1 answer:

stealth61 [152]3 years ago

5 0

Answer:

Cost of goods sold (rounded) under FIFO is $ 1.649

Explanation:

Date Q Cost U.Cost inventory Sold Cost

nov-01 34 231,2 6,8 0 34 231

nov-08 137 1006,95 7,35 0 137 1.007

nov-17 68 489,6 7,2 11 57 410

nov-25 103 772,5 7,5 103 0 0

114 228 1.649

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3 0

2 years ago

If a company adds 60 new workstations at a cost of $100,000 each and also spends $20 million for addition in its camera/drone as

vredina [299]

Answer:

$1,300,000

Explanation:

Given:

Number of workstation = 60

Cost of each workstation = $100,000

Additional Cost = 20,000,000

Computation of total cost:

= Total work station cost + Additional cost

= ($100,000 x 60) + $20,000,000

= $6,000,000 + $20,000,000

= $26,000,000

Assume Depreciation rate = 5%

Deprecation = Total Cost x Depreciation rate

= $26,000,000 x 5%

= $1,300,000

5 0

3 years ago

What is the uses of trading, profit and lost account

Len [333]

The profit and loss account is used to determine the net profit of the business. The starting point for the profit and loss account is the balance carries down from the trading account which is the gross profit of business. Hope this helped you out...

4 0

3 years ago

On March 31, 2021, Chow Brothers, Inc., bought 8% of KT Manufacturing’s capital stock for $51.5 million. KT’s net income for the

In-s [12.5K]

Answer and Explanation:

a. The Journal entries are shown below:-

Investment - Capital stock Dr, $51.5 million

To Cash $51.5 million

(Being investment is recorded)

Unrealized holding gain or loss Dr, $15.5 million ($51.5 - $36.0)

To Fair value adjustment $15.5 million

(Being fair value adjustment is recorded)

b. Unrealized holding gain or loss Dr, $5.5 million ($51.5 - $30.5 - $15.5)

To Fair value adjustment $5.5 million

(Being fair value adjustment before sale is recorded)

Cash Dr, $30.5 million

Unrealized holding gain or loss Dr, $21 million

To Investment - Capital stock $51.5 million

(Being sale of investment is recorded)

4 0

3 years ago

Which group would most likely dislike a city ordinance that bans loud vehicles?

weqwewe [10]

The correct answer of the given question above would be the MOTORCYCLE DRIVERS. The group that would most likely dislike a city ordinance that bans loud vehicles are motorcycle drivers. Often times, motorcycles create loud noises in the public street which create disturbance especially in those places where loud sounds are prohibited. Hope this answer helps.

3 0

3 years ago

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