Lender
which is usually the bank
Answer:
Cost of goods sold = $836
Ending inventory = $315
Explanation:
a) Data and Calculations:
Date Description Units Unit Price Balance
Apr. 1 Inventory 12 $45 $540
Apr. 11 Purchase 13 $47 $1,151 ($540 + 13 * $47)
Apr. 14 Sale (18) $100 $315 ($7 * $45)
Sales revenue = $1,800 ($100 * 18)
Cost of goods sold = $836 ($47 * 13 + $45 * 5)
Ending inventory = $315 ($7 * $45)
b) Under the LIFO (Last in, First out) inventory valuation method, it is assumed that goods that were purchased closest to the selling date were the ones to be sold while those purchased earlier remain in inventory.
A solvency ratio. It measures the income or operates success of an enterprise for a given period of time.
Beth likes to go shopping, so every month she sets aside 100$ for shopping only. this is known as <u>"budgeting".</u>
Budgeting is the way toward making an arrangement to spend your cash. This spending plan is known as a budget. Making this spending plan enables you to decide ahead of time whether you will have enough cash to do the things you have to do or might want to do. Planning is basically adjusting your costs with your salary.
On the off chance that you don't have enough cash to do all that you might want to do, at that point you can utilize this arranging procedure to organize your spending and concentrate your cash on the things that are most essential to you.
