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lozanna [386]
3 years ago
7

Sheffield Corp. uses the periodic inventory system. For the current month, the beginning inventory consisted of 488 units that c

ost $65 each. During the month, the company made two purchases: 722 units at $68 each and 365 units at $70 each. Sheffield Corp. also sold 1206 units during the month. Using the FIFO method, what is the amount of cost of goods sold for the month
Business
1 answer:
swat323 years ago
4 0

Answer:

$80,544

Explanation:

We will calculate the amount of cost of goods sold using FIFO as;

= (Beginning inventory unit × Cost of each inventory) + [(Units sold during the month - Beginning inventory units) × Unit cost of the first purchases made by the company]

= (488 × $65) + [(1,206 units - 488 units) × $68]

= $31,720 + $48,824

= $80,544

Therefore, the cost of goods sold using FIFO is $80,544

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Andreyy89
You have 20 workers and $100.00

100.00/20workers = $5.00/ worker.

Just hand each one $5.00 and say Thanks Good Job!

Check: $5.00 x 20 = $ 100.00

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2 years ago
I am not good at math, please help all grades are due monday
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2 years ago
Marston Manufacturing Company is considering a project that requires an investment in new equipment of $3,600,000, with an addit
Lorico [155]

Answer:

These are the missing multiple choices:

a. $3,780,000, b. $4,212,000, c. $720,000

The correct option is A,$3,780,000

Explanation:

The  total cost of Martson's new equipment comprises of the invoice price of the equipment of $3,600,000 plus the cost of installation and shipping costs of $180,000.

The rationale for the shipping and installation is that costs of asset should include costs incurred in bringing the asset to its present location and condition such as installation and shipping costs.

The costs of the assets is $3,780,000($3,600,000+$180,000)

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2 years ago
Which of the following personal property items has the HIGHEST specific limitation on coverage?
Charra [1.4K]

The personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

<h3 /><h3>The properties having HIGHEST specific limitation on coverage.</h3>

A limit is the highest amount your insurer will pay for a claim that your insurance policy covers.

Some of these specific limits apply to a building or personal property at a single location.

From the listed option, the personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

Learn more on specific limitations on coverage here: brainly.com/question/27015627

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2 years ago
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andrew-mc [135]

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Returns from an investment refers to the gains or losses over a specified period, and is quoted as percentage.  

Risk refers to the possibility or the chance that the actual return that is earned is greater than or less than the return expected by the investor. Thus, uncertainty is another name for risk.  

If the returns from an investment are certain, the risk involved is low. When risk is low, the returns are also low. For e.g. the return from a T-bill is low because the risk of default is zero, since the government can print money to fund its debt.  

The higher the level of risk involved, the greater the potential for a higher return.  

5 0
3 years ago
Read 2 more answers
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