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kow [346]
2 years ago
9

Sheridan Company just began business and made the following four inventory purchases in June: June 1 144 units $ 952 June 10 184

units 1472 June 15 184 units 1564 June 28 144 units 1296 $ 5284 A physical count of merchandise inventory on June 30 reveals that there are 194 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
Business
1 answer:
Anit [1.1K]2 years ago
5 0

Answer:

$210,688

Explanation:

The LIFO method of accounting for inventory involves issuing the last items purchased first and those purchased first are issued last hence the acronym LIFO which means last in first out

Given that June 1 144 units $ 952 June 10 184 units 1472 June 15 184 units 1564 June 28 144 units 1296 $ 5284 A physical count of merchandise inventory on June 30 reveals that there are 194 units on hand

Total number purchased during the month

= 144 + 184 + 184 + 144

= 656 units

Using the last in first out method, the 194 units left at the end would be made up of the 144 units purchased on June 1 and 50 units purchased on 10 June hence the amount allocated to ending inventory for June is

= 144 * $952 + 50 * $1472

= $210,688

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<u>Answer:</u> Option B

<u>Explanation:</u>

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8 0
2 years ago
Assume that Jane’s marginal propensity to consume equals 0.8, and that in 2004 Jane spent $36,000 from her disposable income of
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Answer:

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Explanation:

3 0
3 years ago
Consumer A and Consumer B live in the same state where a sales taxes increase of 1% on all items has been enacted Consumer A has
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brainly.com/question/19715580?referrer=searchResults

8 0
2 years ago
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frutty [35]
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7 0
3 years ago
Suppose France can produce four phones or three computers with one unit of labor, and Sweden can produce one phone or two comput
Fynjy0 [20]

Answer:

France should specialize in producing phones and import computers from Sweden

Explanation:

France can produce: 4 phones or 3 computers

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The opportunity cost of producing 1 computer = (1 ÷ 2)

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According to the comparative advantage,

Sweden has a comparative advantage in producing computers because the opportunity cost of producing computers is lower for Sweden than for France.

France has a comparative advantage in producing phones because the opportunity cost of producing phones is lower for France than for Sweden and import computers from Sweden because Sweden has a comparative advantage in producing computers.

7 0
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