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
qaws [65]
2 years ago
6

Crane Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 483 units that cos

t $63 each. During the month, the company made two purchases: 723 units at $66 each and 362 units at $68 each. Crane Company also sold 1195 units during the month. Using the average cost method, what is the amount of ending inventory
Business
1 answer:
vaieri [72.5K]2 years ago
5 0

Answer:

$24,445.67

Explanation:

The average cost method calculates an average costs out of the units available for sale. The average cost is then used to value cost of sales and the inventory value.

Unit Cost = Total Cost ÷ Units available for sale

therefore,

Unit Cost = (483 x $63 + 723 x $66 + 362  x $68) ÷ 1,568

                = $65.538

Now,

Ending Inventory = Units in stock x Unit Cost

                             = (1,568 - 1,195) x $65.538

                             = $24,445.67

Using the average cost method, the amount of ending inventory is  $24,445.67.

You might be interested in
The question is; create an innovative mission statement for Roberto Pesi’s restaurant inc. Explain the statement..(i will mark a
xeze [42]

Answer:

Roberto Pesi Restaurants inc. mission is to offer delicious Italian and fast food in Toronto that will create a unique experience to each customer making them wanting to comeback. for this we have three restaurants that will satisfy the nutritional need of every single customer.  

Explanation:

The mission of an enterprise must describe the desire goal of an enterprise its values and what kind of product or service it provides and in which area is situated its operation.

7 0
3 years ago
You are driving your car and there is a motorcyclist ahead of you, riding in the left part of your
gregori [183]

Answer:

Lane splitting is riding a bicycle or motorcycle between lanes or rows of slow moving or stopped traffic moving in the same direction. It is sometimes called whitelining, or stripe-riding. This allows riders to save time, bypassing traffic congestion, and may also be safer than stopping behind stationary vehicles.

Explanation:

8 0
3 years ago
Read 2 more answers
OJ's Orange Juice produces orange juice to sell in a competitive market.Given uncertainty in weather patterns, OJ has to determi
sweet-ann [11.9K]

Answer:

c- 1.15 units.

Explanation:

This can be calculated as follows:

Expected price at 10 percent = $5 * 10% = $0.5

Expected price at 90 percent = $2 * 90% = $1.80

Total expected price (EP) = $0.5 + $1.80 = $2.3

Since profit is maximized when EP = MC, we have:

2.3 = 2Q

Q = 2.3 / 2 = 1.15

Therefore, OJ should produce 1.15 units to maximize expected profit. The correction is therefore c- 1.15 units.

7 0
3 years ago
Unearned Revenue: The company collected $24,000 rent in advance on September 1,
alexdok [17]

Answer:

Time period from September 1 - December 31 is 4 months and this means that the tenant has occupied the place for 4 months. Hence, 4 months rent would be accrued.

12 Month rent amount = $24,000

Per month rent amount = $240,00/12 month = $2,000

So, Rent for 4 months = 4 month * $2,000 = $8,000

                         Adjusting Entry

Date      Account titles                     Debit     Credit

Dec 31  Unearned Rent Revenue   $8,000

                   Rent Revenue                              $8,000

4 0
2 years ago
Which of the following items are likely to be normal goods for a tropical customer? which is likely to be inferior goods?
VikaD [51]
Option B. paper plates
8 0
2 years ago
Other questions:
  • Equity is A. always achieved by the market. B. when poorer​ people's income is growing more rapidly than more wealthy​ people's
    10·1 answer
  • Often an individual will join and support a certain interest group to receive tangible economic advantages from that membership.
    9·1 answer
  • A(n) ____ is a professional communication that accompanies your résumé when you respond to a job advertisement or are simply int
    13·1 answer
  • After​ graduation, you face a choice. One option is to work for a multinational consulting firm and earn a starting salary​ (ben
    12·2 answers
  • Brief Exercise 8-06 The cash register tape for Bluestem Industries reported sales of $6,871.50. Record the journal entry that wo
    6·1 answer
  • A category that is not in the chart of accounts is
    8·1 answer
  • Paul and Roger are partners who share income in the ratio of 3:2. Their capital balances are $90,000 and $130,000, respectively.
    8·1 answer
  • True or False: This indicates that there is excess capacity in the market for bats. True False Monopolistic competition may also
    14·1 answer
  • An increasingly important advantage of the limited liability company is that its members?
    5·1 answer
  • The wholesale price per ton is $5000 for exterior paint and $4000 for interior paint. how much interior and exterior paints shou
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!