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
malfutka [58]
2 years ago
8

Wolfe Company had the following beginning inventory and purchases during 2018 Date Transaction Number of units Unit Cost 1/1 Beg

inning inventory 2,000 $22.00 4/12 Purchase No. 1 2,300 $26.00 7/11 Purchase No. 2 800 $28.00 10/5 Purchase No. 3 1,250 $30.00 Wolfe sold 4,100 units Determine the amount of ending inventory and cost of goods sold using the following methods: Method Ending inventory Cost of Goods Sold LIFO FIFO Weighted average
Business
1 answer:
forsale [732]2 years ago
4 0

Answer:

Wolfe Company

The amount of:

                                      LIFO         FIFO    Weighted Average

Ending inventory      $50,500    $65,100        $58,005

Cost of goods sold  $113,200   $98,600       $105,698

Explanation:

a) Data and Calculations:

Date Transaction             Number of units   Unit Cost   Cost Value

1/1     Beginning inventory             2,000        $22.00    $44,000

4/12  Purchase No. 1                      2,300        $26.00      59,800

7/11   Purchase No. 2                        800        $28.00      22,400

10/5 Purchase No. 3                      1,250        $30.00      37,500

Total inventory available              6,350                       $163,700

Wolfe sold                                      4,100

Ending Inventory                          2,250

LIFO

Ending Inventory = $50,500 (250 * $26 + 2,000 * $22)

Cost of goods sold:

4/12  Purchase No. 1                      2,050        $26.00      53,300

7/11   Purchase No. 2                        800        $28.00      22,400

10/5 Purchase No. 3                      1,250        $30.00      37,500

Total cost of goods sold =            4,100                        $113,200

FIFO:

Ending Inventory = Cost of goods available for sale - Cost of goods sold

= $65,100 ($163,700 - $98,600)

Cost of goods sold:

1/1     Beginning inventory             2,000        $22.00    $44,000

4/12  Purchase No. 1                      2,100        $26.00        54,600

Total cost of goods sold = $98,600

Weighted average:

Weighted average cost = $25.78 ($163,700/6,350)

Ending inventory = $58,005 (2,250 * $25.78)

Cost of goods sold = $105,698 (4,100 * $25.78)

You might be interested in
What are doctors paid by in the US and in the UK?
Wewaii [24]
Hope this helped you
5 0
3 years ago
Read 2 more answers
If the keyword an advertiser is bidding on is used in the ad and on the landing page, then the advertiser will receive a higher
cricket20 [7]

Answer:

If the keyword an advertiser is bidding on is used in the ad and on the landing page, then the advertiser will receive a higher Quality Score for

ad relevance.

Explanation:

Ad relevance is a component that gives an advertiser higher quality score.  It is an indication that the keyword is optimized to meet the customer's search query.  It shows how closely the ad matches the customer's search because a correlation exists between the keyword, the ad, and the post-click landing page.  It is paramount to achieve ad relevance in any pay-per-click advertising (PPC), otherwise called search engine marketing (SEM) or search advertising, to justify the ad costs.

8 0
2 years ago
Tyrone has three options on how to spend his saturday afternoon: to go out with friends, watch a movie, or wash his car. tyrone'
Ilia_Sergeevich [38]

If Tyrone has three options on how to spend his saturday afternoon: to go out with friends, watch a movie, or wash his car. tyrone's opportunity cost of washing his car would be: the value of going out with friends OR watching a movie

<h3>What is opportunity cost?</h3>

Opportunity cost can be defined as an way in which alternative is forgone because another alternative was chosen.

Based on the given scenario the opportunity cost will be the value of going out with friends or the value of watching a movie.

Therefore the correct option is D.

The complete question is:

Tyrone has three options on how to spend his Saturday afternoon: go out with friends, watch a movie, or wash his car. Tyrone's opportunity cost of washing his car would be:

a) the value of going out with friends.

b) the value of watching a movie.

c) the value of going out with friends AND watching a movie.

d) the value of going out with friends OR watching a movie.

Learn more about Opportunity cost here:brainly.com/question/481029

#SPJ1

6 0
1 year ago
You are considering a project and are concerned about the reliability of the cash flow forecasts. To reduce any potentially harm
Nuetrik [128]

Answer: A. Lowering the degree of operating leverage.

Explanation:

The degree of operating leverage measure how much the earnings from a project will change as a result of sales.

If you are worried about the cash flow forecasts, it would be best to lower the operating leverage so as to reduce the forecasting error associated with the project. If the operating leverage is high then a small change in sales could impact income in a relatively huge way. By reducing the DOL, the cashflow from the project is easier to forecast and therefore more reliable.

8 0
3 years ago
Typhanie, a customer service representative with WestComm Wireless Services, was asked by one of her customers if WestComm would
insens350 [35]

Answer:

E. Centralized Authority.

Explanation:

As Typhanie, a customer service representative with WestComm Wireless Services, was asked by one of her customers if WestComm would be interested in joining the chamber of commerce to meet potential customers and increase its contacts in the local business community. Typhanie believes this is a very good idea and approached her manager, Deondre, about becoming a chamber member. Deondre said to Typhanie, "Because the cost of membership is over $500 and you will have to leave the office to attend meetings, I will have to get approval from management above me." WestComm is an example of an organization with centralized authority.

In centralized authority, the decisions are made from the top level management or decisions are made from certain managers. Anyone can't make decisions by his or her own in this kind of management style. This system has many flaws as well. As we have seen here in this case, Typhanie is interested in going to chamber of commerce which definitely will be very good for the organisation but when she approached her manager Deondre, he said he even himself can't decide about it, he has to get the orders from his boss. Although the event can be good for the organisation but centralized decision making has made it almost impossible.

8 0
3 years ago
Other questions:
  • Faced with incomplete information about the future national economic conditions, many employers have eschewed the tradition of h
    14·1 answer
  • According to the Bureau of Labor Statistics​ (BLS) high-paying jobs in health care and jobs in​ leisure, hospitality, and educat
    5·1 answer
  • The blood alcohol level goes down after the body begins to _______________________ alcohol from the system, a very slow process
    12·2 answers
  • Approximately how much of the initial investment's value would be lost after 15 years at 3% inflation?
    6·2 answers
  • Which of the following statements is false about assessing interests in negotiations? Select one: a. If you don’t ask what the o
    15·1 answer
  • Increasing and decreasing the decimal option on Excel is intended for:
    7·1 answer
  • If people believe their rights are being violated, they have the right to a fair and impartial hearing. This reflects the basic
    8·1 answer
  • To persuade your boss to hire additional customer support​ staff, you might point to industry surveys that show how crucial cust
    14·1 answer
  • Exercise 4-11 Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related informa
    14·1 answer
  • A bank has $50 million in assets, $47 million in liabilities and $3 million in shareholders' equity. If the duration of its liab
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!