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Studentka2010 [4]
3 years ago
13

A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, they purchased 10 units at $22 each. On N

ovember 6, they purchased 6 units at $25 each. On November 8, they sold 18 units for $54 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold?
Business
1 answer:
VashaNatasha [74]3 years ago
5 0

Answer:

Cost of goods sold=  $410

Explanation:

Giving the following information:

November 1: 5 units for $20 each.

On November 2, they purchased 10 units at $22 each.

On November 6, they purchased 6 units at $25 each.

On November 8, they sold 18 units for $54 each.

The company uses LIFO (last in, first out) as an inventory method.

Cost of goods sold= 6units*25 + 10units* 22 + 2units* 20= $410

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Explanation:

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3 years ago
Chen Company's account balances at December 31, 2017 for Accounts Receivable and the Allowance for Doubtful Accounts are $800,00
Hatshy [7]

Answer:

B) $27,500.

Explanation:

The computation of the amount credited to the allowance account is shown below:

= Sales during the 2017 year × estimated  uncollectible percentage

= $2,750,000 × 1%

= $27,500

By multiplying the sales with the estimated  uncollectible percentage we can get the amount credited to the allowance account and the same is to be considered

Hence, the correct option is B

6 0
3 years ago
Which of the following roles is typically associated with the project manager? ​ a. assigned by the performing organization to l
DochEvi [55]

Answer:

The role typically associated with the project manager is that he is assigned by the performing organization to lead the team that is responsible for achieving the project objectives - option A

Explanation:

One who is a professional in the field of project management is known as a project manager. He has the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; irrespective of the type of industry.

The project manager is responsible for ensuring that everyone on the project team knows and executes his or her role, feels empowered and supported in the role, knows the roles of the other team members and acts upon the belief that those roles will be performed.

The specific responsibilities of the project manager varies depending on the industry, the company size.

However, some responsibilities that are common to all project managers include:

  • Developing the project plans
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  • Managing communication
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  • Managing the project risks
  • Managing the project budget
  • Managing the project conflicts
  • Contract administration
  • Managing the project schedule

Thus, the role typically associated with the project manager is that he is assigned by the performing organization to lead the team that is responsible for achieving the project objectives - option A

All the other options are incorrect.

3 0
3 years ago
A tenant with a triple net lease rents a building that has the following yearly operating expenses: Property taxes $5,000, Utili
bonufazy [111]

Answer: $13500

Explanation:

The triple net lease refers to a lease agreement whereby the tenant pays all the property expenses such as property taxes, building insurance, utilities, repairs and maintenance.

Therefore, based on the question given, the expenses to be paid will be:

Property taxes = $5,000

Add: Utilities = $7,000

Add: Repairs & Maintenance = $1,500

Total = $13500

4 0
3 years ago
________ measures the percentage of profit earned on each sales dollar before interest and taxes but after all costs and expense
julsineya [31]
Hello!

The correct answer for the blank is: Operating profit margin.

I really hope you found this helpful! :)
7 0
3 years ago
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