Answer:
The year end closing inventory is $1256
Explanation:
The LIFO or Last In First Out method of inventory valuation follows that the latest or last purchased inventory will be the one that is sold first. Thus, under this method, the inventory that is purchased at start will be the one that will be left at the end and will form up the ending inventory.
The ending inventory of 24 units means that these units will comprise of inventory from the beginning of the period.
Thus, out of these 24 units, 8 units will be from the beginning inventory and the remaining from the first purchase (24 - 8 = 16).
The cost of ending inventory will be,
8 units at $49 per unit = $392
16 units at $54 per unit = $864
The total amount of closing inventory is = 392 + 864 = $1256
The statement is true.
The existing network and registered consumer base gives them economies of scale and make them a preference of the consumers any new entrant in the market will have to face a lot of problem in the market i.e. have to incur considerable cost.
Chain shops or more than one store is a retail company composed of or extra retail shops, owned by and operated underneath one management. a chain save is the number of retail shops operating underneath not unusual ownership and management constitute a series.
Inside the enterprise world, a series method a set of shops (typically or greater). They possess the equal call (brand), and cling to comparable company store rules, sell identical products, and often owned by using the same determined economies. Right here, think about Wal-Mart as a series of mass-retail supermarkets.
Learn more about economies here: brainly.com/question/25745683
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Answer:
$344,000
Explanation:
The applicable formula, in this case, is the accounting equation.
Assets= Liabilities + Equity.
Liabilities =$117,000
Equity =$227,000
Assets = $117,000 + $227,000
Assets = $344,000
