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earnstyle [38]
3 years ago
12

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computer

s: Date Transaction Number of Units Cost per Unit 1/1 100 $ 800 5/5 Purchase 200 $ 900 8/10 Purchase 300 $ 1,000 10/15 Purchase 200 $ 1,100 During the year, Lauer sold 750 laptop computers. What was cost of goods sold using the LIFO cost flow assumption
Business
1 answer:
bogdanovich [222]3 years ago
7 0

Answer:

$740,000

Explanation:

LIFO assumes that the recent goods bought will be sold first. The Cost of Goods Sold is then calculated on the cost of the recent goods bought.

Cost of Goods Sold = 200 x $1,100 + 300 x $1,000 + 200 x $900 + 50 x $800

                                  = $740,000

Therefore,

Cost of goods sold using the LIFO is $740,000.

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Mullin, inc, purchases supplies such as paper, and seat covers directly from manufacturers and then sells them to other firms. m
scoundrel [369]
<span>Mullin, inc, purchases supplies such as paper, and seat covers directly from manufacturers and then sells them to other firms. mullin, inc. is a (n) wholesaler.
Distribution of goods or things to specific customer types is </span>wholesaling. Wholesaler is a person, company or firm who buys from various producers, a large quantity of goods and then resells to retailers. There are also some types of wholesalers.
8 0
4 years ago
During your investigation you found the effective dates on stock options were deliberately changed for the purpose of securing e
Kitty [74]

Backdating is when the effective dates on stock options were deliberately changed for the purpose of securing extra pay for management.

Backdating is the practice of amending the date of a contract, a legal document, or a cheque to a preceding date. changing the date on this sort of record to misrepresent any data makes this practice unlawful in some cases.

Backdating is the practice of marking a cheque, settlement, or other legally binding settlement with a date this is prior to the contemporary date. Backdating is typically no longer allowed and even can be illegal or fraudulent in a few conditions.

And public organizations responsible for backdating may additionally violate federal securities disclosure and reporting necessities, exposing themselves to regulatory or criminal investigations as well as securities fraud litigation. If you decide to award backdated stock options, touch us about a way to do it in the right manner.

Learn more about contract here brainly.com/question/5746834

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3 0
1 year ago
What is the reflection x-axis or y-axis...W(-7,-4)---W'(7,-4)♥️
In-s [12.5K]

W(-7,-4) indicates the reflection across y=x. (x,y) transformed to (y,x). w(-7,-4) =w(7,4).

w'(7,-4) indicates the reflection across y-axis. (x,y) is transformed to (-x,y). w(-7,-4) = w(7,-5).

Explanation:

The rules for reflecting over the X axis is to negotiate the value of the y coordinate of each point and x is same.

After reflection the coordinates of the figure can be determined. If you reflect over the x-axis, then keep the x-coordinate and take the opposite of  y- coordinate. If you reflect over y-axis, then take the opposite of x- coordinate and keep y- coordinate.

3 0
3 years ago
Price elasticity of demand is defined as: a. the slope of the demand curve. b. the slope of the demand curve divided by the pric
Mandarinka [93]

Answer: Option D

Explanation: In simple words, price elasticity refers to the degree of change in demand of a commodity with respect to change in its price. It generally shows the fact that when the price of a commodity rises the demand for ti decreases due to various phenomenon coming into force such as income effect etc.

The price elasticity is calculated by dividing the change in quantity demanded with the change in price.

4 0
4 years ago
On July 1, 2020, Indigo Co. pays $9,400 to Sweet Insurance Co. for a 2-year insurance policy. Both companies have fiscal years e
aliya0001 [1]

Answer:

Explanation:

The journal entries are shown below:

On July 1

Prepaid insurance A/c Dr $9,400

    To Cash A/c $9,400

(Being the prepaid insurance for cash is recorded)

On December 31

Insurance expense A/c Dr $2,350

         To Prepaid insurance A/c $2,350

(Being the insurance expense is recorded)

The computation is shown below:

= Prepaid insurance amount ÷ number of years × number of months ÷ total number of months in a year

= $9,400 ÷ 2 years × 6 months ÷ 12 months

= $2,350

6 0
4 years ago
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