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
11Alexandr11 [23.1K]
3 years ago
6

The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of

the inventory at the end of the year according to the average cost method?
Business
1 answer:
Degger [83]3 years ago
3 0

Answer: a. $1,380

Explanation:

Using average cost method, the price of all inventory is the same and this cost is calculated by dividing the total cost of the inventory by the total units.

= (5 * 61) + (15 * 63) + (10 * 74) + (10 * 77)

= 305 + 945 + 740 + 770

= $2,760

Average cost = 2,760/ (5 + 15 + 10 + 10)

= $69 per unit

Total units for the year = 5 + 15 + 10 + 10 = 40 units

Total units on hand = 20 units

Total sold = 40 - 20 units

Cost of goods sold = 20 * 69

= $1,380

You might be interested in
Porter Co. owned all of the voting common stock of Simi Corp. The corporations' balance sheets dated December 31, 2018, include
Katena32 [7]

Answer: $672,000

Explanation:

Porter sold land to Simi which means that their land balance reduces. Simi's however increases by the same amount. As Porter owned all the voting stock, the sale will be accounted for at the book value.

The Consolidated balance for land in 2020 will therefore be calculated as,

= (Porter land value - Sales price) + (Simi land value + Sales price)

= (416,000 - 65,000) + (256,000 + 65,000)

= 351,000 + 321,000

= $672,000

The book value of the Consolidated land will be $672,000 in 2020.

3 0
3 years ago
Jenna is looking to buy a new computer. When would the price elasticity of demand be most elastic for her computer? Order the si
m_a_m_a [10]

Answer:

It is convenient for Jenna to buy her computer when the price is more elastic and the Offer of the good is large, because the greater the supply of a good, the lower the price and with the elastic demand. It means that the price varies in proportion to the the demand and supply of the good would have the price of convenience that the computer should buy.

The order of Jenna's computer is as follows:

* Jenna's work computer broke down and she needs a new one or else she can't work.

It is inelastic in this regard because Jenna needs the computer immediately and will not expect a variation in market prices.

* Jenna uses her computer recreationally and wants to be able to listen to music with her friends in two days when they visit her.

The purchase of the computer can wait two days, since although you need it to spend time with your friends, it is not extremely necessary.

* Jenna's computer works fine, but she wants to buy a newer model.

The purchase of the computer can wait therefore the demand becomes more elastic

4 0
2 years ago
Is a private switch that accepts and interprets both analog and digital voice signals?
morpeh [17]
<span>IP-PBX Internet Protocol Private Branch Exchange is a system used to allow switching between Voip and local landlines while maintaining open lines on each phone. An IP-BPX system can switch between VoIP and landline calls or between 2 landline calls. </span>
3 0
2 years ago
The profit, P, in dollars for manufacturing n units of a certain product is given by the formula P = 3n2 - 90n - 720. (Assume th
sesenic [268]

Answer:

n=40

Explanation:

We want to know the value of n when P=480

P=3n^2-90n-720\\480=3n^2-90n-720\\3n^2-90n-720-480=0\\3n^2-90n-1200=0\\3(n^2-30n-400)=0\\n^2-30n-400=0

From here, we can find the factors of the quadratic equation, we need two numbers that multiplied give -400 and added -30. Since they are factors of 400, we can choose -20x20 or -40x10. When adding -20 and 20 the result is zero, but the sum of -40 and 10 is -30. Then:

n^2-30n-400=0\\(n-40)(n+10)=0\\

The solutions of the quadratic equation aren-40=0 and n+10=0:

n_1=40\\n_2=-10

Since n is a positive integer:

n=40

5 0
2 years ago
PLS I NEED THIS FAST !!! IN THE MIDDLE OF THE TEST AND ITS DUE IN A COUPLE OF MINUTES !!! I WILL GIVE BRAINLIEST
weeeeeb [17]

Answer:.

Explanation:

3 0
3 years ago
Other questions:
  • Which of the following pathways are considered part of the government and public service
    12·2 answers
  • When retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts it is considered
    9·1 answer
  • An IRA uses immediate annuities to pay out benefits; the IRA owner is nearly 75 years old when he decides to collect distributio
    6·1 answer
  • You are saving for retirement. To live​ comfortably, you decide you will need to save $ 2 million by the time you are 65. Today
    12·1 answer
  • ACME labs bought a new inspection device for $182,730. The accounting department has estimated that the device will have an annu
    13·1 answer
  • Crocker enterprises conducts thorough background investigations of its prospective employees. the purpose of such investigations
    12·1 answer
  • Speciation has occurred in a species population once ________.
    12·1 answer
  • Carr Manufacturing makes a product that incurs prime costs of $320,000. Production uses 1,000 setup hours and 1,900 machine hour
    8·1 answer
  • The globalization of markets has led to:_______.
    11·1 answer
  • Which step in developing advertising is most helpful in selecting media and evaluating a campaign?.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!