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Eva8 [605]
3 years ago
11

Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for s

ale during the calendar year:
Jan. 1 Inventory 10,000 units at $75.00
Mar. 18 Sale 8,000 units
May 2 Purchase 18,000 units at $77.50
Aug. 9 Sale 15,000 units
Oct. 20 Purchase 7,000 units at $80.25
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
Business
1 answer:
zmey [24]3 years ago
3 0

Answer:

Please see attached solution

Explanation:

a. Cost of goods sold . Detailed explanation attached.

b. Ending inventory. Detailed explanation attached.

Note 1.

Weighted average cost per unit on January 20

= $1,545,000/20,000 units

= $77.5

Note 2

Weighted average cost per unit on January 30

= $948,000/12,000 units

= $79.00

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T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balanc
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Answer:

The question is missing some figures which can be seen from the attached image.

Petty cash is a fund set aside in the office to pay minor day to day expenses incurred.Usually, an amount is made available at the beginning of period called float,from which expenses can be paid and the amount equal to spend is reimbursed at the end of the month.

In order, to make payment even more easier,some businesses take up credit cards from financial institutions,from  which expenses can be paid on account.

The balance of $415 means in petty fund,implies that $85  spent needs to be replenished at month end and that the remaining expenses were paid with credit card.

Explanation:

Find in the attached spreadsheet the entries posted in respect of petty cash and credit card expenses in the month.

5 0
3 years ago
The traditional view of american diversity emphasized the concept of assimilation, which for many groups meant?
gregori [183]

The correct answer is true.

Minority communities have been forced to adopt Anglo-American culture and give up their traditions as a result of assimilation.

<h3>In terms of cultural plurality, what is assimilation?</h3>

In anthropology and sociology, assimilation refers to the process through which people or groups with different ethnic ancestries are assimilated into the dominant culture of a community.

<h3>What does assimilating into American society entail?</h3>

Assimilation is a hotly debated idea in which immigrant groups are urged, through social and cultural practices and/or political maneuvers, to embrace the culture, values, and social behaviors of the host country in order to gain full citizenship status.

To know more about Assimilation , visit:

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7 0
2 years ago
Jane is an employee of Tyco, Inc. and she is in charge of payroll. Every week she issues a check in the name of a fictitious emp
KengaRu [80]

Answer:

b. Tyco is liable because it authorized Jane to issue payroll checks.

Explanation:

There is the company responsibility to put the right person for the specific job. Here in the given situation Jane would not be a liable person for an vital position of the company. in the case when the fraud done by the employee so the firm would be liable as the company provide the authorization to the person who have to perform that job

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The answer is either a or c
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When frank sells a pie to jean instead of sarah, the economic value created in society is lower because of the difference in:.
Free_Kalibri [48]

When frank sells a pie to jean instead of sarah, the economic value created in society is lower because of the difference in consumer surplus.

What is consumer surplus?

Consumer surplus occurs when a consumer pays a price that is lesser for a goods than the actual price they are willing to pay for a product.

Difference in consumer surplus occurs because Frank now has more customers and he can now sell at a price lower than the consumer would pay.

Therefore, Frank sells a pie to jean instead of sarah,when the economic value created in society is lower because of the difference in consumer surplus.

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