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Delicious77 [7]
3 years ago
9

The following units of an inventory item were available for sale during the year. Beginning inventory 10 units at $55 First purc

hase 25 units at $60 Second purchase 30 units at $65 Third purchase 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The ending inventory cost using FIFO is
Business
1 answer:
Sphinxa [80]3 years ago
5 0

Answer:

$1,375

Explanation:

Given the information above, the Ending inventory = Units available - Units sold

Units available = 10 + 25 + 30 + 70 = 80

Units sold = 60

Ending inventory = 80 - 60

Ending inventory = 20

Cost of ending inventory under FIFO

= (15 × $70) + (20 - 15) × $65

= $1,050 + $325

= $1,375

Therefore, the ending inventory cost using FIFO is $1,375

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a customer sells short 100 shares of PDQ at $28 as the initial transaction in a new margin account. Subsequently, PDQ declines t
sergiy2304 [10]

Answer:$500

Explanation:

Sell short means ,borrowing shares of a company that the buyer speculates will fall in value at a later date

Change in equity 100(28-23)=100×5=$500

4 0
3 years ago
A company issues 8% bonds with a par value of $190,000 at par on January 1. The market rate on the date of issuance was 7%. The
cluponka [151]

Answer:

$7,600

Explanation:

The computation of cash paid on July 1 to the bondholders is shown below:-

cash paid on July 1 to the bondholders = Par Value × Semi annual coupon rate

= $190,000 × 6 months ÷ 12 months × 8%

= $190,000 × 0.5 × 0.08

= $7,600

We considered the 6 months as semi-annually is mentioned in the question

Therefore for computing the cash paid on July 1 to the bondholders we simply applied the above formula.

7 0
3 years ago
Jason has a Visa credit card and the Annual Percentage Rate is 18%, what is the rate he will be charged interest on per month?
Keith_Richards [23]

Answer:

a. 1.5%

Explanation:

18% for 12 mo

18%/12 mo

1.5%/mo

5 0
3 years ago
The cost of merchandise sold during the year was $54,000. Merchandise inventories increased by $2,000. Accounts payable increase
denpristay [2]

Answer:

C=$53000

Explanation:

using the direct method of cash flow

 Cash flow from operating Activities                                                        

opening stock Assumed     =                   Nil

Cost of goods sold           =                  54000

Add: Stock increased by =                   2000

Total Purchases (54+2)   =                   56000

Closing Paybles Increase by =            (3000)

Cash Payments =  opening + Purchases-closing payables

Cash Payments = Nil+56000-3000 = 56000

6 0
4 years ago
You bought a share of 4.5 percent preferred stock for $105.35 last year. The market price for your stock is now $103.18. What is
weeeeeb [17]

The total return for last year after considering that you bought a share of 4.5% preferred stock for $105.35 is 2.21%

Dividend = $100 * 4.5% preferred stock shares

Dividend = $100*4.5%

Dividend = $4.5

Total return = (End value - Beginning value + Dividend) / Beginning value

Total return = ($103.18 - $105.35 + 4.5) / $105.35

Total return = $2.33 / $105.35

Total return = 0.0221167537

Total return = 2.21%

Hence, the total return for last year after considering that you bought a share of 4.5% preferred stock for $105.35 is 2.21%

Read more about Dividend

<em>brainly.com/question/13470638</em>

5 0
2 years ago
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