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anastassius [24]
2 years ago
12

The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31, are as fo

llows: Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 7,500 $75.00 $562,500 10 Purchase 22,500 85.00 1,912,500 28 Sale 11,250 150.00 1,687,500 30 Sale 3,750 150.00 562,500 Feb. 5 Sale 1,500 150.00 225,000 10 Purchase 54,000 87.50 4,725,000 16 Sale 27,000 160.00 4,320,000 28 Sale 25,500 160.00 4,080,000 Mar. 5 Purchase 45,000 89.50 4,027,500 14 Sale 30,000 160.00 4,800,000 25 Purchase 7,500 90.00 675,000 30 Sale 26,250 160.00 4,200,000
Business
1 answer:
Alina [70]2 years ago
3 0

Solution :

The answer is in the chart provided below.

The record of the cost of the goods sold, purchase, inventories and ending inventory that uses LIFO for the three months that ended on 31st of March month ---

The total cost of goods sold is $ 1,021,250.00 and total inventory cost is $ 881,250.00

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Some say, "Pollution is the price of progress? 1. Who in fact pays the price? 2. Explain the moral and the economic issues raise
klemol [59]

Answer:The answer is 1 The people pays the price, 2. Industrialization improved the standard of living of the people and increase the country Gross domestic product 3. Economic progress is the increase in output, economic development is the equitable redistribution of produced goods and services, the government must put in place a body to ensure the control of pollution of the environment by the industries.

Explanation:

Industrialization is the policy of setting up several industries in a country.it is regard as the surest way to the economic development of a country. It one of the real sector of the economy which can quickly facilitate the economic development. The process of industrialization as good as it is has a negative effect on the environment through the environmental pollution, pollution is the process of releasing harmful and injurious chemicals into the environment by the the industries which may result in a serious health and environmental hazard such as cancer, heart disease, and damage to other vital organs of the body .Therefore, the people is the one paying the price of the effect of pollution on the environment where they live.

The moral issue raised by the assertion is that industrialization is capable of bringing the people out of poverty in the sense that the major causes of poverty in the society is the lack of unemployment, therefore industrialization provide jobs for the people which help in improving their standard of living., and in turn lift them out of poverty into the life of affluence. On the other hand, industrilization is capable of improving the economic development of the country. It is one of the major ways to increase the country's Gross domestic product of the country, it help in raising the national incomes of the country..it also helps in the increase in the level of productivity of the economy. It increase the level of investment in the nation,it increases savings in the economy and help in reducing the prices of goods produced in the country.

The connection between economic progress and development is that, economic progress is the increase in the Gross domestic product or a national income of a country or the increase in the output of a country., for example if the national income of a country rises by 10% in a certain year we can say that the economy of such country has experienced a growth rate of 10% . On the other hand, if it falls by 5% we say that the country had experience a negative growth. While economic development is the attainment of a number of ideals of modernization such as a rise in productivity, social and economic equity improved institutions and values.economic development emphasises equitable distribution of produced goods and services which lead to increase in the social and economic well being of the people. Growth can be achieved with an increase in output but development can be achieved not only with increased output but also through equitable redistribution of existing goods and services. In the process of ensuring the economic progress and development it is very important to put in place a measure to control the effect of pollution on the environment by ensuring that industries channel their toxic waste appropriately in such a way that it will not lead to a serious health hazard of the people living in the environment where the industries is located. On the other hand, government should establish a body know as the environmental protection council who will be charged with the responsibility of ensuring that industries comply with the environmental laws put in place to protect the environment as well as to sanction the industries who fails to operate within the framework of the law.

5 0
3 years ago
IMA GOIN BROKE FROM THESE GIVAWAYS BUT HERES MORE POINTS
KIM [24]

Answer:

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Explanation:

5 0
3 years ago
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What is the most important duty of a firm's financial officer? to ensure that the firm has enough cash on hand to meet its commi
4vir4ik [10]
<span>What is the most important duty of a firm's financial officer? to ensure that the firm has enough cash on hand to meet its commitments at any given time to decide how to pay for investments to manage working capital to make investment decisions?</span>
8 0
3 years ago
Libre, Inc. has experienced bad debt losses of 5% of credit sales in prior periods. At the end of the year, the balance of Accou
Mama L [17]

Answer:

The estimated bad debt expense for the year amounts to $9,400

Explanation:

The  estimated bad debt expense  for the year is computed as:

As the percentage of credit sales method is used for estimating the bad debt expense. Therefore, it is computed as:

Bad debt expense = Net Credit Sales × Estimate Percent

where

Net credit sales amounts to $188,000

Estimate percent is 5%

So, putting the values above:

Bad debt expense = $188,000 × 5%

Bad debt expense = $9,400

Therefore, the bad debt expense amounts to $9,400

3 0
3 years ago
"In the long run a company that produces and sells kayaks incurs total costs of $15,000 when output is 30 kayaks and $20,000 whe
Oksana_A [137]

Answer:

b. constant returns to scale because average total cost is constant as output rises.

Explanation:

The question has options. Below is the complete question.

<u>Complete Question</u>

In the long run a company that produces and sells kayaks incurs total costs of $15,000 when output is 30 kayaks and $20,000 when output is 40 kayaks. The kayak company exhibits

a. diseconomies of scale because total cost is rising as output rises.

b. constant returns to scale because average total cost is constant as output rises.

c. diseconomies of scale because average total cost is rising as output rises.

d. economies of scale because average total cost is falling as output rises.

The correct answer is explained below.

In the long run a company that produces and sells kayaks incurs total costs of $15,000 when output is 30 kayaks and $20,000 when output is 40 kayaks. The kayak company exhibits  constant returns to scale because average total cost is constant as output rises.

6 0
3 years ago
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