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zhenek [66]
3 years ago
14

The annual inventory of The Bike Shop Inc. shows the following information for mountain bikes: DATE QUANTITY COST TOTAL January

15 Beginning Inventory 80 $126 $10,080 March 20 Purchase 30 120 3,600 June 21 Purchase 20 126 2,520 October 12 Purchase 15 122 1,830 December 29 Purchase 10 122 1,220 Total available for sale 155 $19,250 If 36 mountain bikes were on hand on December 31, what is the value of the ending inventory using the LIFO method of inventory pricing
Business
1 answer:
Nesterboy [21]3 years ago
5 0

Answer:

$4,536

Explanation:

LIFO assumes that the units to arrive last will be sold first. Hence inventory valuation is based on the prices of earlier units.

Ending Inventory = 36 x $126 = $4,536

The value of the ending inventory using the LIFO method of inventory pricing is $4,536.

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At Eady Corporation, maintenance is a variable overhead cost that is based on machine-hours. The performance report for July sho
rjkz [21]

Answer:

See below

Explanation:

$10,370 - $340 = $10,030

6 0
2 years ago
Outsourcing means that :
g100num [7]

Answer:

B

Explanation:

It is the correct answer and outsourcing is were another company hires a company to essentially do their job. But done by a different company.

7 0
3 years ago
As a result of a thorough physical inventory, Horace Company determined that it had inventory worth $320,000 at December 31, 201
Alex_Xolod [135]

Answer:

Option (b) is correct.

Explanation:

Correct amount of inventory to be reported:

Amount of inventory as per physical verification = $320,000

Cost of goods under consignment to Herschel Corporation = $47,000

Value of inventory to be reported:

= Amount of inventory as per physical verification + Cost of goods under consignment to Herschel Corporation

= $320,000 + $47,000

= $367,000

3 0
3 years ago
The inventory data for an item for November are: Nov. 1 Inventory 20 units at $19 4 Sale 10 units 10 Purchase 30 units at $20 17
kolezko [41]

Answer:

=  $490

Explanation:

<em>Under the </em><em>First-in-First-Out  </em>( FIFO ) <em>method of inventory valuation,  inventories are valued using the price of the earliest batch in stock until the batch is exhausted when the price of the next oldest batch is used and so on.</em>

Date     sale units       Workings                         Value

              10                    10 × $19                              190

               20        (10 × $19)+( 10 × $20)                  390

The cost o he merchandise = $190 + $390

                                             =  $490

8 0
3 years ago
Newly issued securities are sold to investors in which one of the following markets?A. ProxyB. InsideC. SecondaryD. Primary
Harrizon [31]

Answer:

D. Primary

Explanation:

The newly issued securities are first sold to the investors of the primary market .

The primary market id responsible for issuing the securities for the exchange of the company , or other groups .

The primary market are run by the underwriting groups which includes the investment banks .

Hence , from the information of the question , the correct term is ( d. ) Primary market .

7 0
3 years ago
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