1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
In the short run, if average variable costs equal $60, average total costs equal $70, and output equals 100, the total fixed cos
Leto [7]

The total fixed cost should equal $1000.

<h3>What is the total fixed cost?</h3>

The first step is to determine the average fixed cost. The average fixed cost can be determined by subtracting the average variable costs from average total costs.

$70 - $60 = $10

Total fixed cost is the product of average fixed cost and output

100 x $10 = $1000

To learn more about cost, please check: brainly.com/question/26502221

7 0
2 years ago
The government of Junta took Fuel Safe Corp., a domestic energy firm, into state ownership to save the company from bankruptcy.
goblinko [34]

The government of Junta took Fuel Safe Corp., a domestic energy firm, into state ownership to save the company from bankruptcy. However, the other private competitors in the energy industry were enraged by this decision. As a result, the government had to reduce the tax burden on all private energy firms so that both the state-owned enterprise and private firms could coexist.It portrays Mixed economy

<h2>Option (E) is correct</h2>

<u>Explanation:</u>

It is an example of Mixed economy.Mixed economy is one in which both public and private enterprises exist. It combines the features of free economy,planned economy as well as private and public enterprise.

In mixed economy there is control of government and with that it has private concerns also. Government exercises control through various policies like fiscal policies and monetary policies. In this example state ownership as well as private competitors co exist.

7 0
3 years ago
Which of the following is NOT a characteristics of good application?
slavikrds [6]

Answer:

C. completed quickly

Explanation:

8 0
3 years ago
Read 2 more answers
Suppose that borrowing is restricted so that the zero-beta version of the CAPM holds. The expected return on the market portfoli
statuscvo [17]

Answer:

The expected return on a portfolio is 14.30%

Explanation:

CAPM : It is used to described the risk of various types of securities which is invested to get a better return. Mainly it is deals in financial assets.

For computing the expected rate of return of a portfolio , the following formula is used which is shown below:

Under the Capital Asset Pricing Model, The expected rate of return is equals to

= Risk free rate + Beta × (Market portfolio risk of return - risk free rate)

= 8% + 0.7 × (17% - 8%)

= 8% + 0.7 × 9%

= 8% + 6.3%

= 14.30%

The risk free rate is also known as zero beta portfolio so we use the value in risk free rate also.

Hence, the expected return on a portfolio is 14.30%

6 0
3 years ago
2. Why has the U.S. become a spending society?
aleksklad [387]
Geared to entice people to spend I think
7 0
2 years ago
Other questions:
  • Swan Song is a spa that caters to the needs of a small percentage of highly health-conscious consumers. It offers state-of-the-a
    14·1 answer
  • 5 dimensions of job satisfaction
    7·1 answer
  • Professional codes of conduct serve what function for business and industry
    6·1 answer
  • It ONLY makes sense to implement an ABC system when: A. ABC provides information to make better decisions. B. Its benefits excee
    11·1 answer
  • Jolly Company produces hula hoops. Jolly Company has the following sales projections for the upcoming​ year: First quarter budge
    8·1 answer
  • Benefit payments made on a ____________ basis are not scheduled, but are based on the average fee charged by all doctors in a gi
    13·1 answer
  • Otis Thorpe Corporation has 10,000 shares of $100 par value, 8% preferred stock and 50,000 shares of $10 par value common stock
    15·1 answer
  • Which of the following mathematical equations is used to calculate a predetermined overhead rate? a.Predetermined Overhead Rate
    11·1 answer
  • Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours pe
    9·1 answer
  • Adjustable or variable
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!