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bija089 [108]
3 years ago
7

In its first month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 370 units at

$6, (2) 470 units at $8, and (3) 570 units at $9. Assuming there are 270 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Wildhorse Co. uses a periodic inventory system. FIFO LIFO The Ending Inventory $Enter a dollar amount $Enter a dollar amount
Business
1 answer:
Andreas93 [3]3 years ago
5 0

Answer:

The cost of the ending inventory under FIFO is $2,430 and under LIFO is  $1,620

Explanation:

First determine the units sold

Units Sold = Total Purchases - Units in hand

                  = 1,410 units - 270 units

                  = 1,140

Note ; Wildhorse Co. uses a periodic inventory system. This means we calculate the cost at the end of the period.

FIFO

Means First in First Out

Cost of the ending inventory = 270 x $9.00 = $2,430

LIFO

Means Last in First Out

Cost of the ending inventory = 270 x $6.00 = $1,620

Conclusion

The cost of the ending inventory under FIFO is $2,430 and under LIFO is  $1,620

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mylen [45]

Answer:

$54.35

Explanation:

The computation of the price per share of the common stock is shown below:

= Next year dividend ÷ (Required rate of return - growth rate)

where,

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= $3.23 + $3.23 × 4.2%

= $3.23 + 0.13566

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And, the other items would remain the same

So, the price per share is

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= $3.37 ÷ 6.2%

= $54.35

4 0
3 years ago
During her performance review, Tuli’s manager tells her that numerous customers have not been satisfied with her assistance. Acc
romanna [79]

<em>Tuli can improve her performance by means of observing relational level in terms of customer assistance satisfaction thru establishing good business relationship to all people involve in her work. Starting from her co-workers to business associates, clients, suppliers and even stakeholders. No matter how good a product is, if one person couldn't handle a good attitude in making transaction with their clients or co-workers, the company could experience a great loss and revenue. Therefore, Tuli can do the following: </em>

<em>1. She must communicate more often and in a friendly way to all who she is working with. She could start every conversation with politeness and friendly greetings to everyone. </em>

<em>2. She must always put a personal touch on her work such as giving joy to her customers and co-workers as she delivers products and services. </em>

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5 0
3 years ago
In a standard cost accounting system, the entry to record purchase of raw materials on account for $13500 when the standard cost
Sedaia [141]

Answer:

a. Debit to raw material inventory for $12,750, debit to material price variance $750 and credit to account payable for $13,500.

Explanation:

Date  Journal Entry                                   Debit      Credit

         Raw Material Inventory                   $12,750

         Material Price Variance                   $750

               Accounts Payable                                     $13,500

3 0
3 years ago
Apex Corp. asks its consumers to determine how they perceive the similarities and dissimilarities among relevant product attribu
8_murik_8 [283]

Answer: (C) Perceptual mapping

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The perceptual mapping is one of the type of technique that is used by the marketers for visually displaying the different types of perceptions of the consumers and the users.

It is also known as the market mapping technique that is used for the developing the various types of brands and the products in the market for based on the customer perspective.  

According to the given question, the Apex corp. is using the perpetual mapping technique for determining the different types of product attribute in the market.  

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6 0
4 years ago
A company purchased new furniture at a cost of $14,000 on september 30. the furniture is estimated to have a useful life of 8 ye
Lesechka [4]

Answer: The company will record a depreciation of $375  as depreciation.

We begin by calculating the depreciable value of the asset.

Depreciable Value = Purchase Price of the Asset - Salvage Value

Depreciable Value = 14,000 - 2,000 = 12,000

The depreciable value is $12,000.

The useful life of the asset is 8 years from the date of purchase.

So, the depreciation for one year will be \frac{Depreciable Value}{Useful Life}.

Hence the depreciation for one year is \frac{12000}{8} = 1500

Since the equipment was purchased at the end of September, we can only charge depreciation for 3 months on 31st December.

So, the depreciation expense will be \frac{1500}{12} * 3 = 375

8 0
3 years ago
Read 2 more answers
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