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zhenek [66]
3 years ago
14

A company has inventory of 17 units at a cost of $11 each on May 1. On May 5, they purchased 11 units at $16 per unit. On May 12

, they purchased 18 units at $17 per unit. On May 15, they sold 30 units. Using the FIFO periodic inventory method, what is the value of the inventory at May 15 after the sale
Business
1 answer:
monitta3 years ago
4 0

Answer:

Value of ending inventory on May 15 after sale = $272

Explanation:

The periodic nventory methods calculating inventory through a physical count at the end of the period.

Under FIFO method, the inventory that is purchased first is the one that is sold first. Thus, a sale of 30 units on May 15 will be made from:

Cost of sales:

17 units at $ 11 = 187

11 units at $ 16 = 176

Remaining units = 30 - (17+11) = 2

The 2 units will be taken from units purchased on May 12.

The ending inventory, thus, will be 18 - 2 = 16units at $17 per unit

Value of ending inventory on May 15 after sale = 16 * 17 = $272

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mote1985 [20]

When a local auto repair shop sponsors a local softball​ team, it is using the​ public relations element of the promotional mix.


Public relations allows a company to create a good image with the public through relations and organizations they work with for the public to see. When the local auto repair shop sponsors a local softball team, they are not only advertising their name, but people are recognizing them as a company that gives back. By being active in their community they are building public relations.

3 0
3 years ago
"You plan to buy a piece of machinery worth $50,000 then you plan to sell it at the end of its 15-year life cycle for $5,000. Wh
Aleks04 [339]

Answer:

$3,000 and $35,000

Explanation:

The computations are shown below:

The depreciation expense would be

=(Original cost - residual value) ÷ (useful life)

= ($50,000 - $5,000) ÷ (15 years)

= ($45,000) ÷ (15 years)  

= $3,000

In this method, the depreciation is same for all the remaining useful life

The book value would be

= (Original cost of equipment) - (depreciation × number of years)

= ($50,000) - ($3,000 × 5 years)

= $50,000 - $15,000

= $35,000

8 0
3 years ago
Three highly similar and competitive income-producing properties within two blocks of the subject property have sold this month.
EastWind [94]

The overall capitalization rate by direct market extraction assuming each property is equally comparable to the subject is 11.4%

Explanation:

Capitalization is the accounting of expenditures and the regular distribution of investments in fixed reserves over future years. Capitalisation, in other words, includes an expense usually documented in a temporary account and reported as an income account on a permanent basis.

Take the average of the three property capitalization rates to find the overall capitalization rate.

4 0
3 years ago
If the U.S. dollar appreciates, an MNC's: a. exports denominated in foreign currencies will probably increase. b. U.S. sales wil
Hoochie [10]

Most likely when the U.S. dollar appreciates, the MNC's interest owed on foreign funds borrowed will probably increase.

MNC refers to Multinational corporation .

  • The Multinational corporation are known to borrow from foreign bodies in dollars.

  • Hence, when the dollar appreciates, the amount owed to the foreign bodies will increase consequently.

Therefore, the Option C is correct because the MNC's interest owed on foreign funds borrowed will probably increase when U.S. Dollars appreciates.

Read more about this here

<em>brainly.com/question/14124450</em>

4 0
2 years ago
Data is oftentimes considered a defensible source of competitive advantage; however, advantages based on capabilities and data t
Likurg_2 [28]

Data is oftentimes considered a defensible source of competitive advantage; however, advantages based on capabilities and data that others can acquire will be short lived.

<h3>What is data?</h3>

It should be noted that data simply means the facts and statistics that are used to analysis.

In this case, data is oftentimes considered a defensible source of competitive advantage; however, advantages based on capabilities and data that others can acquire will be short lived

Learn more about data on:

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4 0
1 year ago
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