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
riadik2000 [5.3K]
3 years ago
10

A physical count of merchandise inventory on July 30 reveals that there are 180 units on hand. Using the FIFO inventory method,

the amount allocated to ending inventory for July is
Business
1 answer:
Nookie1986 [14]3 years ago
8 0

Answer: $3,708

Explanation:

Using FIFO means that the earlier goods are sold before the later ones so the closing inventory would have the latest goods purchased.

If there are 180 units on hand, the cost would be:

  • 54 units purchased at $22
  • (180 - 54) units purchased at $20

Closing inventory is:

= (54 * 22) + ( (180 - 54) * 20)

= (54 * 22) + ( 126 * 20)

= $3,708

You might be interested in
the table you're working at keeps wobbling you decide to fix it by making a thick pad of paper from folded sheets of paper. each
MissTica
Pad 1 = folded 3 times
If folding a sheet of paper creates 2 layers, then folding a piece of paper creates 4 layers because you are basically folding the 2 layers you initially created which doubles it. (Folding any amount of layers doubles the layers).

Pad 2 = folded 2 times
This sheet of paper has 2 layers. That information was given to us beforehand.

Lastly add up all the layers: 4 + 2 = 6

Final answer: It took 6 layers of paper to prop up the table
6 0
3 years ago
Presented below is information for Headland Company.
OlgaM077 [116]

Answer and Explanation:

The computation is shown below:

For account receivable turnover ratio

Accounts Receivable Turnover is

= Sales ÷ Average Receivables

Beginning Accounts Receivable  $21,400

Add: Sales                                 $105,300

Less: Cash Receipts                $81,300

Ending Accounts Receivable   $45,400

Now

Accounts Receivable Turnover is

= $105,300 ÷ ($21,400 + $45,400) ÷ 2

= 3.15 times

Now days to sell is  

= 365 ÷ 3.15 times

=116 days

5 0
3 years ago
The direct materials and direct labor budgets provide information for preparing the:________a) production budget.b) sales budget
Korolek [52]

Answer:

C.) Cash budget.

Explanation:

As the name sounds is exactly what it directly entail; as it explains the direct input and output flow pattern of cash in a said organisation or firm. And in most cases, it is seen to access these funds and their usage pattern.

In this case, it can know and give heads up on when their is cash shortage or when a form does not have enough liquidity funds to run it. That is why here, direct and labour budgets are parts of what makes up the cash budget.

6 0
2 years ago
The equipment and structures available to produce goods and services are called
GrogVix [38]

Answer:

physical capital (c)

Explanation:

beep boop

8 0
2 years ago
Ngai Nhung is the sales manager at Hung Technologies. At lunch with the company CEO, Ngai proudly announced that he had negotiat
beks73 [17]

Ngai Nhung is the sales manager at Hung Technologies. At lunch with the company CEO, Ngai proudly announced that he had negotiated a <u>blanket purchase order</u> with a client that represented the customer's long-term commitment to buy components from Hung.

<u>Option: D</u>

<u>Explanation:</u>

Here Ngai announcement means that the firm's consumers with their suppliers are going to enable several distribution dates across a period of time, often structured to reap the benefits of fixed prices which showcase the long-term relation between firm and consumer, thus understood as a blanket purchase order.

It is basically utilized when expendable products are recurrently needed. Blanket orders are commonly used when a consumer purchases large amounts and receives special discounts. Calculating the predicted amount planned by the recipient of the commodity is the toughest part of getting an agreement.

3 0
3 years ago
Other questions:
  • YUM!, one of the world's largest restaurant companies, has a variety of brands, including KFC, Pizza Hut, and Taco Bell. Each on
    9·1 answer
  • The ____, implemented in 2001, grants federal authorities expanded surveillance and intelligence-gathering powers, such as broad
    6·1 answer
  • Neo-mercantilists equate political power with economic power and economic power with:______a. corruption.b. a balance-of-trade s
    13·1 answer
  • Garcia Company reports the following information: Net operating income after taxes $100,000 Before-tax operating income $300,000
    8·1 answer
  • On December 1, 2008, Secure Company bought a 90-day forward contract to purchase 200,000 euros (€) at a forward rate of €1 = $1.
    9·1 answer
  • Suppose that the five firms in industry A have annual sales of 30, 30, 20, 10, and 10 percent of total industry sales. For the f
    8·1 answer
  • Red Co. recorded a right-of-use asset of $100,000 in a 10-year finance lease. Payments of $16,275 are made annually at the end o
    10·1 answer
  • Economics ch 7 <br> What are the 2 barriers to entry in a market
    14·1 answer
  • Determine the starting current (LRC)
    8·1 answer
  • Solutions to the moral hazard problem include Select one: a. low net worth b. greater reliance on equity contracts and less on d
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!