Answer:
Hi, the question you have provided is <em>missing data</em> on the Purchases and Available Inventory for Sale on the Company :
Here are the important principles to consider when calculating the value of Cost of Goods Sold using LIFO periodic Inventory Costing System.
LIFO stands for Last - In - First - Out. This method assumes that the last goods purchased are the first ones to be issued to the final customer or requisition department.
This means the valuation of inventory will be at the value of the <em>earliest </em>goods purchased and that the cost of goods sold will be at the <em>latest </em>prices.
<u>Units Sold Calculation</u>
In this question we are provided with Ending Inventory Balance of 26 units. Since its Periodic system, calculation of sales units will simply be Total Balance Available for Sale (Opening Balance plus Purchases) less Ending Balance of Inventory units.
<u>Cost of Sales Calculation</u>
Now with the units sold having been calculated, we have to use the principles of LIFO to make sure that of those units sold, last goods purchased are the first ones to be issued to the final customer.
Answer:
$3,116,041
Explanation:
For computing the cost of buying a set first we have to determined the percentage needed for the stock which is shown below:
= 1 ÷ (Number of seats + 1)
= 1 ÷ (4 +1 )
= 20%
Now number of stock required is
= (380,000 shares × 20% ) + 1
= 76,001 shares
So, the total cost required to buy a seat is
= 76,001 shares × $41
= $3,116,041
We simply multiplied the number of stock with the selling price of the stock so that the total cost could come
Answer:
Manufacturing Production Process Development pathway
Explanation:
edg 2020 just took the review
Answer:
the correct answer is market data.
Explanation:
The new market data will provide with valuable information such as the customer behavioural and purchasing patterns along with what they like, don't like, new trends and the purchasing power of the customers.
This will lay a foundation for further analysis of the existing market segment and new market segments.
