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Brums [2.3K]
3 years ago
9

Maxim Corp. has provided the following information about one of its products:Date Transaction Number of Units Cost per Unit1/1 B

eginning Inventory 285 $ 157 6/5 Purchase 485 $ 177 11/10 Purchase 185 $ 217 During the year, Maxim sold 570 units.What is cost of goods sold using the average cost method? (Do not round intermediate computations.)
Business
1 answer:
Vesnalui [34]3 years ago
3 0

Answer:

$101,904.6

Explanation:

The computation of the cost of goods sold using the average cost method is shown below:

Beginnig Inventory 285 at $157 = $44,745

Purchases   485 at $177 = $85,845

Purchases   185 at $217 = $40,145

Total cost = $170,735

Now  

Total number of units is

= 285 + 485 + 185

= 955

Now  

Average Cost per unit is

= $170,735 ÷ 955

=$ 178.78

And, finally

Cost of goods Sold is

= 570 × $178.78

= $101,904.6

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Aliun [14]

Answer:

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Explanation:

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If the central bank wants to reduce money supply, it increases the legal reserve requirement and if it wants to increase money supply, it reduces the legal reserve requirement.

A high reserve requirement reduces the amount that banks can make available for loans.

I hope my answer helps you

5 0
3 years ago
You are considering two ways of financing a spring break vacation. you could put it on your credit​ card, at 17 % ​apr, compound
shutvik [7]
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7 0
3 years ago
On July 1, 20X1, James and Short formed a partnership. James contributed cash. Short, previously a sole proprietor, contributed
Brrunno [24]

Answer:

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Explanation:

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3 years ago
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Answer:

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6 0
3 years ago
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Arada [10]

Answer:

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3 years ago
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