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zhuklara [117]
3 years ago
15

Lizzie Corporation has provided the following information about one of its laptop computers: Date Transaction Number of Units Co

st per Unit 1/1 Beginning Inventory 280 $ 980 5/5 Purchase 380 $ 1,080 8/10 Purchase 480 $ 1,180 10/15 Purchase 290 $ 1,230 During the year, Lizzie sold 1,200 laptop computers. What was ending inventory using the FIFO cost flow assumption
Business
1 answer:
hoa [83]3 years ago
8 0

Answer:

the ending inventory using the FIFO cost flow assumption is $282,900

Explanation:

The computation of the ending inventory using the FIFO cost flow assumption is shown below;

But before that first we have to determine the ending inventory units i.e.

= 280 + 380 + 480 + 290 - 1,200

= 230 units

So, the ending inventory is

= 230 units × $1,230

= $282,900

Hence, the ending inventory using the FIFO cost flow assumption is $282,900

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A personal business letter is written by an individual to a company for resolving issues related to an unexpected error on a bil
yarga [219]

Answer:

See the explanation below.

Explanation:

                                                                        62, Charlton Street,

                                                                        Ibadan, Oyo State,

                                                                        Nigeria.

                                                                        14 May 2020.

The Accounting Officer,

XYZ Company,

Ibadan, Oyo State,

Nigeria.

Dear Sir,

Complaint Lodgment Over an Unexpected Error in My Bill

This is to bring to your notice an unexpected error of $9 over charge in the consumable items I purchased from your store yesterday, 13 May 2020.

From my recalculation of the total amount for the purchased item, I could observed that the error was due to a transposition of figure by your cashier; he charged me a total sum of $76 instead of $67.

Copies of the invoice and the payment receipt for the items are hereby attached to this letter for your verification. After your verification, kindly get back to me so that I can come to your office for the refund.

I look forward to receiving your usual timely response.

Yours sincerely,

Amcool.

4 0
3 years ago
A worksheet contains sales dollars for agents with your company. The values are $1,250, $1,090, $985, $985, $880, $756, $675, $6
ivolga24 [154]

Answer:We use the Large Function. the general formula is  =LARGE(first cell:last cell,3) .Please refer to the explanation section for details

Explanation:

Let us assume

A 1 = $1,250,  A 2 = $1,090, A 3 = $985, A 4 = $985, A 5 = $880, A 6 = $756, A 7 = $675, A 78= $650, and A 9 =$600

Using the Large function on excel to return the third largest value, on the formula bar we have the following formula;

=LARGE(A1:A2,3)

7 0
3 years ago
Darian expects to get 7,500 in grants each year. What is the minimum amount he should expect to contribute for four years at the
Mamont248 [21]
The answer is B. $91,500.
8 0
3 years ago
Carlos bought a $235 water heater with his credit card. He used the water heater for five years before replacing it. He paid off
Effectus [21]

Answer:

c 4.12

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8 0
3 years ago
Sam owns 70 percent of the stock of Club Corporation. Unrelated individuals own the remaining 30 percent. For a stock redemption
zimovet [89]

Answer: C.Any percentage less than 50 percent

Explanation:

In relation to the law on meeting the criteria to be treated as an exchange under the "substantially disproportionate" test as stipulated by U.S. Code § 302.Distributions in redemption of stock, Sam must own the lesser of 2 options of Club Corporation stock;

1. Less than 50% of the stock after the redemption

2. Less than 80% of Sam's previous ownership percentage

= 80% * 70%

= 56%

The lesser option is that of owning less than 50% so Sam must own less than 50% of stock after the redemption to meet the requirement to be treated as an exchange under the "substantially disproportionate" test.

4 0
3 years ago
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