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
Juli2301 [7.4K]
3 years ago
10

Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $500,000 (20,000 units at $25 each)

. During 2021, 80,000 units were purchased, all at the same price of $30 per unit. 85,000 units were sold during 2021. Calculate the December 31, 2021, ending inventory and cost of goods sold for 2021 based on a periodic inventory system.
Business
1 answer:
melamori03 [73]3 years ago
5 0

Answer:

COGS = $2,525,000

$375,000

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

COGS = (80,000 X $30) + (5000 X $25) = $2,525,000

Ending inventory would comprise of jan. 1 inventory less 5000

15000 x 25 = 375000

You might be interested in
True or false, general revenue sharing grants give states the most discretion as to how to spend the money.
ioda
I think the answer is true although i'm not sure. please go back to your lesson and check, everything says there. I'm guessing you are home-schooled so just go through the lesson while doing the test, this way you will know for sure that you got everything right.
8 0
4 years ago
You invested $30,000 in BOA, $20,000 in Best Buy, and $50,000 in Harley-Davidson for your portfolio. Betas are 1.8, 1.05 and 1.5
steposvetlana [31]

Answer:

Beta= 1.5

Explanation:

<u>First, we need to calculate the proportional investment of each asset:</u>

Total investment= $100,000

BOA= 30,000/100,000= 0.3

Best Buy= 20,000/100,000= 0.2

Harley-Davidson= 50,000/100,000= 0.5

<u>To calculate the beta of the portfolio, we need to use the following formula:</u>

Beta= (proportion of investment A*beta A) + (proportion of investment B*beta B)...

Beta= (0.3*1.8) + (0.2*1.05) + (0.5*1.5)

Beta= 1.5

4 0
3 years ago
The most recent comparative balance sheet of Giacomelli Corporation appears below: Which of the following classifications of cha
Delvig [45]

Answer:

The correct option is B: "The change in Accounts Receivable is a source; The change in Inventory is a use"

Explanation:

However, you will need to look at the asset section as well in order to determine the correct response to this question statement. Depending on how the accounts receivable and inventory changes, you will be able to ascertain which is a source and which is a use. For instance, if the balance in Accounts Receivable and the Inventory has increased, the change is a use. And vice versa.

8 0
3 years ago
Sum Company has reminded Innovation Marketing of the limitations of their budget. Innovation Marketing reviewed the marketing pl
posledela

A planning process is ongoing when there is a review of the marketing plan to prompt Sum Company to look at the relationship between analysis and determination.

<h3>What is a planning process?</h3>

This refers to the necessary steps taken by a company to develop its budgets to guide its future activities.

Hence, a planning process is ongoing when there is a review of the marketing plan to prompt Sum Company to look at the relationship between analysis and determination.

Read more about planning process

<em>brainly.com/question/25453419</em>

#SPJ1

4 0
2 years ago
Which one of the following statements about private goods is true? (WITH EXPLANATION PLEASE)
sergey [27]
C because some people can not afford to buy private goods which leads them to be excluding them from the products a firm makes
6 0
3 years ago
Other questions:
  • When Jeff Bezos founded Amazon in 1994, he was laying the foundation for the world’s largest ________, because Amazon uses the I
    9·1 answer
  • The minimum level of exercise required to achieve some health benefits is termed ________
    5·1 answer
  • The Puyer Corporation makes and sells only one product called a Deb. The company is in the process of preparing its Selling and
    15·1 answer
  • The participation of women in the U.S. labor force has risen dramatically since 1970. True or False: This rise likely increased
    11·1 answer
  • You have $1200 to invest in a bank account with an interest rate of 4.5%, compounded monthly. After how many years will your acc
    6·1 answer
  • Fixed expenses: a. includes labor, raw materials, and commissions. b. can be estimated by taking into consideration the producti
    9·1 answer
  • A buyer uses a perpetual inventory system, and it purchases merchandise on terms of FOB shipping point. On December 20, the ship
    15·1 answer
  • Assume that there is a 25 percent reserve ratio and that the Federal Reserve buys $4 billion worth of government securities. If
    10·1 answer
  • Which brokers allow residents to hold trading accounts
    8·1 answer
  • which type of retailer is most likely to require its employees to focus most on assisting customers as they shop?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!