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
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

You might be interested in
Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week
liubo4ka [24]

Explanation:

here is an explanation and solution to your question

For Euphoria:

The opportunity cost of producing a unit of rye in terms of jeans =20/5 = 4

for contente:

The opportunity cost of producing a unit of rye in terms of jeans = 16/8 = 2

opportunity cost of producing 1 unit of jean in terms of unit of rye:

for euphoria = 5/20 = 1/4

for contente = 8/16 = 1/2

1.

Euphoria's opportunity cost of producing a a bushel of rye is 4 pairs of jeans.

contentes opportunity cost of producing a bushel of rye is 2 pairs of jeans.

2.

contente has comparative advantage in producing rye

euphoria has comparative advantage in jeans production

3

contente produces 8 bushels of rye so with 4 million hours of labor = 8x4 = 32 million bushels in a week.

euphoria 20 pairs of jean in a week, using 4 million hours of labor. 20x4 = 80 pairs of jean a week

8 0
4 years ago
True or false: employers are made worse off but employees are made better off by this law.
RUDIKE [14]
Which law are we being asked about?
3 0
4 years ago
Which benefit is often associated with command economies and most likely
GuDViN [60]

Answer:

The establishment of social welfare programs.

Explanation:

This is the answer for Ap3x.

5 0
3 years ago
Under what conditions do bacteria thrive
fgiga [73]

some thrive in extreme heat or cold.

3 0
3 years ago
Read 2 more answers
Jim is happy to talk with Mike about this issue. He felt during Mike's interviews that Mike's experience with vendors would be a
Bad White [126]

Meeting with vendors is part of his job, and he should make plans to call them.

<h3>Who is a vendor ?</h3>

A vendor is a party in the supply chain that makes goods and services available to companies or consumers. He is an individual or company that sells goods or services to someone else in the economic production chain.

Here, Mike was employed by Jim due to his experience with vendors. What this means is that Mike should use his experience to negotiate with the vendors on behalf of the company.

Therefore, Mike should respond that meeting with vendors is part of his job, and he should make plans to call them.

Learn more about vendor here : brainly.com/question/25946259

7 0
3 years ago
Other questions:
  • Michelle Darby receives cash from customers. Her other assigned job is to post the collections to customer accounts receivable.
    7·1 answer
  • Which describes the difference between a trade surplus and a trade deficit?
    5·2 answers
  • An organization whose members can buy and sell securities for companies and investors is known as a:
    12·1 answer
  • Andy contrasts barcelona restaurants with other establishments where employees are "told how to answer a phone and how to set a
    7·1 answer
  • Romona Company expects its November sales to be 20​% higher than its October sales of $ 240 comma 000. All sales are on credit a
    5·1 answer
  • Arron, the CEO of a multinational corporation, believes that effective control in an organization comes from each employee's int
    6·1 answer
  • At the end of the current year, $17,555 of fees have been earned but have not been billed to clients. Journalize the adjusting e
    11·1 answer
  • Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the
    10·1 answer
  • Canedo Incorporated reported the following results from last year’s operations: Sales $ 9,600,000 Variable expenses 7,170,000 Co
    9·1 answer
  • As part of a major plant renovation project, the industrial engineering department has been asked to balance a revised assembly
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!