1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kobusy [5.1K]
3 years ago
7

Alpha First Company just began business and made the following four inventory purchases in June: June 1 150 units $1040 June 10

200 units 1560 June 15 200 units 1680 June 28 150 units 1320 $5600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is $1508. $1848. $1456. $1824.
Business
1 answer:
grandymaker [24]3 years ago
3 0

Answer:

a. $1508

Explanation:

June 1    150 units

June 10  200 units

June 15  200 units

June 28  150 units

Total       700 units

Out of above, only 210 units are in hand. Under LIFO method, 150 units are from 1st June and 60 units are from 10th June.

Date     Units (a)  Per unit cost (b)  Ending inventory (a*b)

June 1       150      $6.93 (1040/150)        $1.040

June 10     60       $7.8 (1560/200)          $468

Total         210                                           $1,508

So, using the LIFO inventory method, the value of the ending inventory on June 30 is $1,508

You might be interested in
How does the use of credit influence businesses and the economy?
Anarel [89]
A credit company will look at your history with credit and either accept you or deny you based on your credit score

i hope this helps..;)


5 0
3 years ago
Read 2 more answers
You are a sales manager for a car dealership who wants to effectively target potential customers. Write a paper that details how
fenix001 [56]

Answer:

answer is given below

Explanation:

  • As sales managers of car dealerships, we need to create a plan to effectively target potential customers.
  • In order to effectively target potential buyers, we need to determine both demographic and behavioral data. With respect to demographics, it is important to have information about age, gender, and income levels so that we can consider former consumer trends. Getting this type of data helps our dealerships identify the consumer trends that best target our marketing campaigns. In addition to this data, monitoring our social media feeds also helps us gain insight into our automakers by providing us with demographics and behaviors.
  • There are various resources available to assist in the decision-making process, focusing on potential buyers. One specific source we want to use is Axion. Many people have experimented with FICO assessment. The company can be used by car businesses to help them focus on family units and performance insights by providing reliable data,
4 0
3 years ago
When a company prepares financial statements using standard costing, which items are reported at standard cost
Dmitrij [34]

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

7 0
2 years ago
Is a promise to refrain from doing an unlawful act and, therefore, is a promise that will not support a contract.
aleksley [76]

I'm a little confused on this question however, I'm 99% sure the answer is illusory promise because an illusory promise is one that does not hold any legal weight due to it possibility being a biased and non mutual agreement and it's just a verbal contract in the place of a paper contract.


6 0
3 years ago
Read 2 more answers
Which of the following three factors affects an employee's motivation
kvasek [131]

Answer:

There are three major components of motivation which are (i) direction, (ii) intensity, and (iii) and persistency (Fig 1). Direction is a goal which forces the employees to perform an act to achieve the targets.

Explanation:

make sure to follow me and mark me as the brainliest

3 0
3 years ago
Other questions:
  • The use of activity-based costing information to support the decision-making process is known as:
    11·1 answer
  • The value of the cpi's "market basket" is determined by ________.
    8·1 answer
  • Why have the fortunes of the English gentry degenerated?
    5·1 answer
  • What type of buying decision making is used when purchasing Dress pants and shirt? *
    13·1 answer
  • Angela believes that Beamer Corporation’s stock will drop in value. She borrows 150 shares from a brokerage firm when the stock
    10·1 answer
  • Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area
    14·1 answer
  • The wealth effect refers to the fact that
    15·1 answer
  • You own a small store. Your cashier thinks you should lower prices to increase your total revenue and your friend thinks you sho
    11·1 answer
  • Which of the following hypotheses is a one-tailed test? Group of answer choices
    10·1 answer
  • Chi-Ling thought it would be best to put Connor in charge of making decisions for the accounting team and Manami in charge of ma
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!