Calculation of the ending inventory with the first-in-first-out (FIFO) method:
Number of units in the ending inventory = Units in the beginning inventory + Units Purchased – Units sold
Number of units in the ending inventory = 1200+(500+2000)-2150 = 1550 units
Under the FIFO method the ending inventory belongs to the latest purchases. Hence, 1550 units shall belong to the latest purchase @ $13.50 per unit.
Hence, Cost of ending inventory using FIFO method = 1550 units @$13.50 = <u>$20,925</u>
Idk can it you do the work
Explanation:
The correct journal entry is as follows:
Cash Dr $90
Service revenue Dr $560
To Account receivable $650
(Being the cash received is recorded)
Basically we debited the cash for $90 and service revenue for $560 and credited the account receivable for $650 so that the correct posting could be done
The cash difference is
= $650 - $560
= $90
Answer:
the action or activity of gathering information about consumers' needs and preferences
-place
-target market
-feasibilty study
Explanation:
Place- allow you to gain attraction and attention from public
Target market-. Field of your business is it realible who would be your costumer and clients