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klemol [59]
3 years ago
10

Vaughn uses the periodic inventory system. For the current month, the beginning inventory consisted of 7200 units that cost $14.

00 each. During the month, the company made two purchases: 3000 units at $15.00 each and 12200 units at $15.50 each. Vaughn also sold 13100 units during the month. Using the FIFO method, what is the ending inventory?
Business
1 answer:
mixas84 [53]3 years ago
4 0

Answer:

Ending inventory= $144,150

Explanation:

Giving the following information:

Beginning inventory consisted of 7200 units that cost $14.00 each.

Purchase:

3000 units at $15.00 each

12,200 units at $15.50 each.

Vaughn also sold 13,100 units during the month.

<u>To calculate the ending inventory using the FIFO (first-in, first-out) method, we need to use the cost of the lasts units incorporated into inventory:</u>

Ending inventory= 9,300*15.5

Ending inventory= $144,150

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Answer:

Variable cost per unit= $6.6 per unit

Explanation:

Giving the following information:

January: $2,880 330

February: $3,180 380

March: $3,780 530

April: $4,680 660

May: $3,380 530

June: $5,520 730

To calculate the unitary variable cost, we need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (5,520 - 2,880) / (730 - 330)= $6.6 per unit

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3 years ago
The signing of the project portfolio statement signals the transition from the high-level project initiating stage into the more
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Answer:

False

Explanation:

Signing a project charter rarther than project portfolio signal the trasition of a project from high level initiating phse into a more detailed project planning stage.

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5 0
3 years ago
Total assets of Charter Company equal $700,000 and its equity is $420,000. What is the amount of its liabilities? b. Total asset
guajiro [1.7K]

Answer:

a. Total liabilities = $280,000

b. Total liabilities = $250,000

Total equity -= $250,000

Explanation:

As we know that

Total assets = Total liabilities + shareholder equity

So in the first case

The amount of the liabilities is

Total liabilities = Total assets - Total equity

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And, in the second case, the total assets is $500,000

And, the liabilities and equity amounts are equal to each other

So in this case, the liabilities is $250,000 and the equity is $250,000

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3 years ago
How does a mayor-council system function?​
ValentinkaMS [17]

Answer:

The mayor is basically the city's chief executive, Meanwhile the council is the city's primary legislative body if you will. These make up general characteristics of a strong mayor council of governments . Therefore the mayor could or may appoint and remove departmental heads. The mayor can also draft and propose a budget to the city council basically.

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3 years ago
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NARA [144]

Answer:

Developing

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A developing country is one where,

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  • Life expectancy is higher due to absence of modern medical facilities in all areas.
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Here, the country has all features of a developing world nation.

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