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Mila [183]
3 years ago
10

The following units of a particular item were available for sale during the calendar year:

Business
1 answer:
nalin [4]3 years ago
4 0

Answer:

The cost of goods sold for eachs ale and the inventory balance after each sale, assuming the LIFO (last-in, first-out) method:

                  Cost of goods sold      Ending Inventory

Apr. 19   Sale            $100,000                   $60,000

Sept. 2  Sale             $218,000                   $40,000

Explanation:

a) Data and Calculations:

Date       Description       Units     Unit Cost      Total            Balance

Jan. 1      Inventory       4,000            $40        $160,000

Apr. 19   Sale               (2,500)                           (100,000)    $60,000

June 30 Purchase       4,500            $44          198,000     258,000

Sept. 2  Sale               (5,000)                           (218,000)      40,000

Nov. 15  Purchase       2,000            $46           92,000      132,000

Cost of goods sold:                              Ending Inventory

April 19: = 2,500 * $40 = $100,000     = 1,500 * $40 = $60,000

Sept 2: =  4,500 * $44 + 500 * $40    = 1,000 * $40 = $40,000

            =  $198,000 + $20,000

           =  $218,000

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3 years ago
An investment offers to double your money in 30 months (don’t believe it). What rate per six months are you being offered? (Do n
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Answer:

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A photocopier cost $105,000 when new and has accumulated depreciation of $96,000. if the business discards this plant asset, the
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During the asset's anticipated useful life, depreciation is allocated in order to charge a fair percentage of the depreciable amount in each accounting period. Amortization of assets with predetermined useful lives is included in depreciation. Depreciation enables businesses to recoup the cost of an item at the time of acquisition. Instead of collecting the full cost of an asset right away, the technique enables businesses to do so during the asset's lifecycle. This enables businesses to replace current assets with the necessary quantity of revenue in the future.

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To know more about Depreciation refer to:  brainly.com/question/15085226

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