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
aleksklad [387]
3 years ago
11

A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350

units. 150 units remain in ending inventory at January 31. Units Unit CostBeginning inventory on January 1 320 $ 3.00 Purchase on January 9 80 3.20 Purchase on January 25 100 3.34 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. (Round your per unit costs to 2 decimal places.)A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31. Units Unit CostBeginning inventory on January 1 320 $ 3.00 Purchase on January 9 80 3.20 Purchase on January 25 100 3.34 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. (Round your per unit costs to 2 decimal places.)
Business
1 answer:
nydimaria [60]3 years ago
8 0

Answer:

The costs assigned to ending inventory based on the LIFO method under periodic inventory system are:

= $450.

Explanation:

a) Data and Calculations:

On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31.

                                                           Units           Unit Cost    Total Cost

Beginning inventory on January 1      320              $ 3.00          $960

Purchase on January 9                         80                 3.20             256

Purchase on January 25                     100                 3.34              334

Tota units available for sale               500                                 $1,550

Sales on January 26                          350                                  $1,100

Ending inventory at January 31          150               $3.00          $450

You might be interested in
Why would a party with numerous issues agree to focus on the single issue of inflation?
Bond [772]
I believe that the answer to the question provided above is that by agreeing on single issue of inflation is due to the need to have one . For the sense of having singularity for the group.
Hope my answer would be a great help for you.    If you have more questions feel free to ask here at Brainly.
5 0
2 years ago
ASAP I WILL GIVE BRAINLEST AND ILL PAY YOU
REY [17]

Answer:

The dollar has depreciated relative to the euro

Explanation:

If I exchange you a lesser amount of money in U.S. currency for a bigger amount in Euros when trading money, that means the value of my money is more. So if I were to exchange $1000 for 750 euros instead of 800 euros, the value of a euro eithed went up or the value of a U.S. dollar went down

8 0
2 years ago
annual gross potential rental income from a property minus expenses (vacancy and collection losses, operating expenses, replacem
dlinn [17]

Annual gross potential rental income from a property minus expenses (vacancy and collection losses, operating expenses, replacement reserves, property taxes, and property and liability insurance) equals Effective gross income . This is further explained below.

<h3>What is Effective gross income?</h3>

Generally, Effective gross incomeis simply defined as the total effective gross revenue equals potential gross income less vacancy and collection losses + other income.

In conclusion, Potential gross revenue minus vacancy and collection losses, plus other income, is equivalent to effective gross income.

Read more about Effective gross income

brainly.com/question/17284401

#SPJ1

4 0
1 year ago
Which account would you have a debit card linked to?
yulyashka [42]
D) checking account
3 0
3 years ago
Illustrate the effects of each of the transactions on the accounts and financial statements of Snipes Company.
Lesechka [4]

Answer:

Snipes Company

Effects of each transaction on the accounts and the financial statements of Snipes Company:

                           Balance Sheet    Income Statement           Statement of

                                                                                                    Cash Flows

      Assets = Liabilities + Equity   Revenue - Expense = Profit

+ $18,250  =     0        + $18,250  + $18,250 - 0            + $18,250

Accounts receivable $18,250 Sales revenue $18,250

      Assets = Liabilities + Equity   Revenue - Expense = Profit

   -$10,000 =     0        - $10,000     0          - $10,000

Cost of goods sold $10,000 Inventory $10,000

      Assets = Liabilities + Equity   Revenue - Expense = Profit

  -$400             0           -$400          0         -$400              -$400 Operating activity

Transportation-out expense $400 Cash $400

Explanation:

a) Data and Analysis:

Accounts receivable $18,250 Sales revenue $18,250

Cost of goods sold $10,000 Inventory $10,000

Transportation-out expense $400 Cash $400

4 0
2 years ago
Other questions:
  • Which of the following determines​ "when specific products will be​ made, when specific customer orders will be filled and what​
    15·1 answer
  • Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the u
    5·1 answer
  • William is interested in exercising more, but does not feel he has the time. Write a short response explaining how he can find t
    5·1 answer
  • Dell Computers wants to reach all potential users of their products, both industrial buyers and final consumers. They would most
    8·1 answer
  • The federal government or private associations might fund________to help an entrepreneur finance a new business.
    7·2 answers
  • Net Games Corporation hires Holley, a minor, to create new customized game software for certain clients. Holley signs a contract
    5·1 answer
  • Employees at Rayon Enterprises earn one day a month of vacation compensation (twelve days total each year). Vacation compensatio
    12·1 answer
  • A candy company has 115 pounds of cashews and 140 pounds of peanuts which they combine into two different mixes. The deluxe mix
    5·1 answer
  • Sppose that the total beneft and total cost from a cntinous activiy are, reptetlel given by the following equations: B(Q)= 100 +
    6·1 answer
  • A firm has an inventory period of 94.2 days, an accounts payable period of 40.4 days, and an accounts receivable turnover rate o
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!