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
Phoenix [80]
3 years ago
8

An analyst gathered the following information about a company for a fiscal year: QuarterPurchases in UnitsCost per UnitPurchases

in DollarsUnit Sales Per Quarter Q1100$12.00$1,200200 Q2200$14.00$2,800200 Q3300$16.00$4,800300 Q4400$18.00$7,200300 FY total1,000 $16,0001000 Beginning Inventory200$10.00$2,000 Ending Inventory under LIFO perpetual is closest to:
Business
1 answer:
s2008m [1.1K]3 years ago
8 0

Answer:

Ending Inventory under LIFO perpetual is closest to:

$2,800.

Explanation:

a) Data and Calculations:

Quarter    Purchases    Cost per Unit    Purchases in   Sales Per Quarter

                  in Units                                  Dollars Unit

Beginning    200                $10.00            $2,000

Q1                 100                $12.00             $1,200                  200

Q2               200                $14.00             $2,800                 200

Q3               300                $16.00             $4,800                 300

Q4              400                 $18.00             $7,200                 300

FY total    1,200                                       $16,000                1000

LIFO Ending Inventory:

Beginning    100                $10.00            $1,000

Q4                100                $18.00            $1,800

Total            200                                      $2,800

b) LIFO (Last-in, First-out) is based on the assumption that inventory items sold are from the latest units in store and not from the earlier units.  This means that items bought last are sold first.  Therefore, to determine the value of ending inventory,

You might be interested in
What information does a target cost-per-acquisition (cpa) bid strategy need in order to find the optimal cost-per-click (cpc) bi
Butoxors [25]
They would need historical conversion data because using this allows you to find the optimal equivalent bid each time your ad is eligible to appear.  Even though you pay per click, you don't need to continuously adjust the bid to reach your conversion target
7 0
3 years ago
The government sets an allowable amount of pollution and lets companies buy and sell the right to release this pollution in a co
Margaret [11]

Answer:

D. tradable permits

Explanation:

Tradable permits also known as emissions allowance is an attempt at regulating pollution through the market system. tradeable permit gives right to the bearer of such permit to emit pollution up to a limited amount and if such permit is partially used or for one reason or the other, it is unused, it can be traded or negotiated to a willing buyer.

7 0
3 years ago
Using the high-low method, the fixed cost is calculated ______. Multiple select question. by adding the total cost to the variab
-Dominant- [34]

Answer:

is calculated after the variable cost per unit is calculated

Explanation:

Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

In Financial accounting, fixed cost can be defined as predetermined expenses in a business that remain constant for a specific period of time regardless of the quantity of production or level of outputs. Some examples of fixed costs in business are loan payments, employee salary, depreciation, rent, insurance, lease, utilities, etc.

On the other hand, variable costs can be defined as expenses that are not constant and as such usually change directly and are proportional to various changes in business activities. Some examples of variable costs are taxes, direct labor, sales commissions, raw materials, operational expenses, etc.

Using the high-low method, the fixed cost can only be calculated after the variable cost (VC) per unit is calculated through the application of either the low or high level of activity.

3 0
3 years ago
Assume that you wish to purchase a 20-year bond that has a maturity value of $1,000 and makes semiannual interest payments of $4
Savatey [412]

Answer:

$828.36

Explanation:

As for the information provided,

The value = $1,000

Life = 20 years, since interest is semi annual, effective period = 20 \times \frac{12}{6} = 40 periods.

Semi annual interest = $40

Annual interest = 10%, effective interest rate = 5%

Future Value Interest rate = $40 \times (\frac{1}{(1+0.05)^1} +\frac{1}{(1+0.05)^2} +\frac{1}{(1+0.05)^3} +\frac{1}{(1+0.05)^4} +\frac{1}{(1+0.05)^5} +\frac{1}{(1+0.05)^6} +\frac{1}{(1+0.05)^7} +.................. + \frac{1}{(1+0.05)^4^0} )

= $40 \times 17.159 = $686.36

Future Value of Principal = $1,000 \times \frac{1}{(1 + 0.05)^4^0}

= $1,000 \times 0.142 = $142

Thus, current price of bond = $686.36 + $142 = $828.36

5 0
3 years ago
Discuss two possible solutions to the environmental problem<br>​
Montano1993 [528]

Answer:

Explanation:

1. plant trees  

2. save electricity and natural resources

3 0
3 years ago
Other questions:
  • The entry to adjust for the cost of supplies used during the accounting period is______________.
    15·1 answer
  • As the marketing manager of BargainSmartphones, you're so committed to offering the best bargains that you're willing to show ot
    11·1 answer
  • Select the TWO examples that would NOT qualify as coordination problems: Select one or more: a. Watching your favorite TV show o
    5·1 answer
  • Our company makes sophisticated lenses for satellite cameras. We allocated our overhead (OH) costs using practical equipment mac
    15·1 answer
  • Proceeds of debt issued for the construction or acquisition of capital assets are recognized by the capital projects fund as "ot
    13·1 answer
  • Venus LLC is a large monopolistic electronic firm. The firm has been putting a lot of pressure on some of the complementor compa
    15·1 answer
  • I now have $23,000 in the bank earning interest of .50% per month. I need $33,000 to make a down payment on a house. I can save
    10·1 answer
  • Harry Rawlings wants to withdraw $10,000 (including principal) from an investment fund at the end of each year for 5 years. How
    6·1 answer
  • At December 31, 2018 and 2019, Frist Company had outstanding 50 million common shares and 4 million shares of 10%, $10 par cumul
    5·1 answer
  • The elements of the business environment include the:.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!