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strojnjashka [21]
3 years ago
13

The following inventory was available for sale during the year for Dolphin Tools: Beginning inventory 10 units at $120 First pur

chase 15 units at $165 Second purchase 30 units at $210 Third purchase 20 units at $195 Dolphin Tools has 25 units on hand at the end of the year. What is the dollar amount of inventory at the end of the year according to the first-in, first-out method?a. $6,600.b. $11,900.c. $6,300.d. $7,800.
Business
1 answer:
vaieri [72.5K]3 years ago
8 0

Answer: $4,950

Explanation:

If the company is using the First In First Out method for Inventory valuation then the earlier inventory is sold off first which would mean that the inventory at year end will be the more recent inventory.

The 25 units at the end of the year will be the most recent units purchased and so will be;

20 units from the third purchase

5 units from the 2nd purchase

Inventory value = (20 * 195) + ( 5 * 210)

= $4,950

<em>The options are not for this question. </em>

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Answer:

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The Porter's five forces of competition framework are:

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The most powerful of the five competitive forces is usually the competitive pressures associated with rivalry among competing sellers in the industry for buyer patronage. When the amount of competitors (sellers), as well as the quantity of goods and services they provide are large, the lesser their competitive strengths or advantage in the market because the customers have a large pool of finished goods and services to choose from and vice-versa.

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Which of the following statements is false?a. When properly used, either nonstatistical or statistical sampling can be effective
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A company has a beginning owner’s capital of $100,000. It has net loss for the current year of $50,000 and paid $10,000 in divid
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