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
Nezavi [6.7K]
2 years ago
14

Concord has the following inventory information. July 1 Beginning Inventory 30 units at $15 $450 7 Purchases 90 units at $23 207

0 22 Purchases 10 units at $20 200 $2720 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
Business
1 answer:
serg [7]2 years ago
4 0

Answer:

COGS= $2,060

Explanation:

Giving the following information:

July 1: Beginning Inventory 30 units at $15 $450

July 7: Purchases 90 units at $23 2070

July 22: Purchases 10 units at $20 200

Ending inventory in units0 30 units

<u>First, we need to calculate the number of units sold:</u>

Units sold= total units - ending inventory in units

Units sold= 130 - 30

Units sold= 100

<u>Now, to calculate the cost of goods sold under the FIFO (first-in, first-out), we need to use the cost of the firsts units incorporated into inventory:</u>

COGS= 30*15 + 70*23

COGS= $2,060

You might be interested in
Nichols Enterprises has an investment in 26,000 bonds of Elliott Electronics that Nichols accounts for as a security available f
Crazy boy [7]

Answer:

$ 364,000

Explanation:

Given;

The number of bonds in which investment is made = 26000

Quote price of the bond = $ 14 per bond

Actual price of the bond = $ 24

Now,

the investment amount is carried out using the quote price of the bonds in the balance sheet

therefore,

Nichols should carry the Elliott investment on its balance sheet as :

= number of bonds invested × quote price of the bond

or

= 26000 × $ 14

or

= $ 364,000

4 0
3 years ago
Two important group outcomes or consequences of the interactive
Alik [6]

Answer:

task performance and group maintenance.

Explanation:

Leadership can be defined as a process which typically involves motivating, encouraging and inspiring employees working under an individual to be innovative and create positive changes that will foster growth and enhance the success of a business firm or company in the future.

This ultimately implies that, beyond an individual possessing the traits or qualities of a leader, leadership in itself is a process that revolves around the activities or happenings between the leader and those who he or she is leading, which are the followers. Thus, leadership is simply a continuous process and it's transactional in nature because it occurs between a leader and the followers.

A leader can be defined as an individual who is saddled with the responsibility of controlling, managing and maintaining a group of people under him or her.

Some types of power expressed by leaders are referent power, coercive power, etc.

Hence, two important group outcomes or consequences of the interactive process that unfolds between a leader, follower, and the situation include task performance and group maintenance.

Leaders are saddled with the responsibility of ensuring that the follower performs his or her duties or tasks as stated in the contract and to foster cohesion among the various team members.

6 0
2 years ago
Which of the following is NOT a legitimate use of the Internet for businesses?
maw [93]
The true correct answer is C my dude
4 0
3 years ago
Read 2 more answers
Having a good credit score is important because
zvonat [6]
It shows you're trustworthy and banks will be more willing to loan you money
5 0
2 years ago
Read 2 more answers
The common stock of the Avalon Corporation has been trading in a narrow range around $40 per share for months, and you believe i
Monica [59]

Answer:

C. Sell a straddle

Explanation:

Considering the following calculation: Sell a straddle = sell a put + sell a call

and,

Premium income for selling a straddle = (P + C )100 = ($3 + $4)(100) = $700.

a short straddle involves simultaneously selling a put option and call option with the same underlying asset, same exercise price and expiration date

By Selling a 3 month put option with exercise price of $40 one will get $3 (inflow of $3)

Simulatenously By Selling a 3 month call option with exercise of $40 one wiil get $4(inflow of $4)

Thus the total premium income of selling a straddle is $7

7 0
2 years ago
Other questions:
  • Gourd supermarkets has an extensive training program for all new employees and then has all employees spend a day in customer se
    13·2 answers
  • After a tax is imposed on the buyers of bottled water, the price buyers pay is $2.50 per bottle and the price sellers receive is
    10·1 answer
  • Businesses typically enter into areas where there is competition. a. True b. False
    11·2 answers
  • The use of a test for firefighters that requires candidates to carry a 100 pound sack down a ladder could result in certain grou
    12·2 answers
  • The key difference between mediation and arbitration is: (A) A mediator is constrained to work with the final offers given by th
    8·1 answer
  • Consider the following budget information: materials to be used totals $69,750; direct labor totals $198,400; factory overhead t
    8·1 answer
  • MHM Bank currently has $700 million in transaction deposits on its balance sheet. The current reserve requirement is 8 percent,
    6·1 answer
  • URGENT!!!
    8·1 answer
  • A shopkeeper explains to you that she keeps down the cost of running her business because her husband works in the shop for free
    14·1 answer
  • Clark, a widower, maintains a household for himself and his two dependent preschool children. For the year ended December 31, 20
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!