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Mariulka [41]
2 years ago
11

In a period when costs are declining and inventory quantities are stable, the lowest cost of goods sold would be reported by usi

ng the inventory method of
Business
1 answer:
shusha [124]2 years ago
7 0

Answer:

LIFO

Explanation:

To record the lowest cost of goods sold, the ending inventory amount must be high. This would only be high in LIFO whish would not be affected by declining costs.

By using LIFO (Last in First Out) inventory valuation will be based on the value of the earliest goods purchased instead of latest goods purchased as in FIFO (First In First Out)

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During March, the production department of a process operations system completed and transferred to finished goods 23,000 units
a_sh-v [17]

Answer:

-

Explanation:

6 0
3 years ago
Why do you think celebrities bother to involve themselves in politics?
vova2212 [387]

Answer:

Answer in explanation.

Explanation:

I think that celebrities bother to involve themselves in politics to try and make a statement or gain more fame and followers. Oftentimes, you see celebrities speaking on world events such as the BLM act, global warming, wildfires, or the pandemic that is still ablaze. As we all know, all politicians have their strong opinions but the points do not always get across when just the politicians talk about it. Sometimes, celebrities feel the need to speak on a topic that may be popular in the world of politics just to shine a light on it or even to get more attention. In conclusion, I feel that celebrities try to worm their way into politics because I believe that they think that it will make an impact.

7 0
3 years ago
14. Lassiter Industries has annual sales of $220,000 with 10,000 shares of stock outstanding. The firm has a profit margin of 7.
kakasveta [241]

Answer:

Price earning ratio is 16

Explanation:

Profit Margin = (Net profit / Net Sales) x 100

7.5% = Net profit / $220,000

Net Profit = $220,000 x 7.5%

Net Profit = $16,500

Earning Per share = $16,500/ 10,000 = $1.65 per share

Price-sales ratio = Market value /  Sales value

1.20 = Market value / 220,000

1.20 x 220,000 = Share price

Share price = 264,000 / 10,000 =

Share price = 26.40

Price Earning Ratio = 26.40 / 1.65 = 16

8 0
3 years ago
Opera Corp uses the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units that cost
Kryger [21]

Answer:

$159,057

Explanation:

The computation of cost of goods sold is shown below:-

Total cost of goods available for sale = (7,200 × $10) + (4,000 × $13) + (12,000 × $13.50)

= $72,000 + $52,000 + $162,000

= $286,000

Total units = 7,200 + 4,000 + 12,000

= 23,200

Average cost per unit = Total cost of goods available for sale ÷ Total units

= $286,000 ÷ 23,200

= $12.33

So,

Cost of Goods sold = Sold units during the month × Average cost per unit

= 12,900 × $12.33

= $159,057

Therefore for computing the cost of goods sold for the month we simply applied the above formula.

3 0
3 years ago
A "Name That Tune" contest has a grand prize of $500,000. However, the contest stipulates that the winner will receive just $200
Alexxx [7]

Answer:

The correct answer is (C) $401,302

Explanation:

To get how much the contest winner actually won, we have to calculate the amount receive at the end of each year discounted at this moment. Then,  we added  all the payments.  

For example, the first payment in  $200,000 at this moment,  so we add  $200,000.  

At the end of the first year we receive $30,000, and the rate of discount is 8%

The formula of discount is P=A/ (1+r)ⁿ

A=Final amount  

P= Principal

r= interest rate

n= time

Year 1 = A/ (1+r)ⁿ =$30,000/1,08¹= 27777,77

Year 2 =$30,000/1,08²= 25720,16

Year 3=23814,96

Year 4=22050,89

Year 5=20417,49

Year 6=18905,08

Year 7=17504,71

Year 8=16208,06

Year 9=15007,46

Year 10=13895,80

 

Total  401302,44

3 0
3 years ago
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