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Alex
3 years ago
12

Crane Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:

Units Per unit price Total Balance, 1/1/20 150$4.00$600 Purchase, 1/15/20 705.10 357 Purchase, 1/28/20 705.30 371 An end of the month (1/31/20) inventory showed that 110 units were on hand. If the company uses LIFO, what is the value of the ending inventory
Business
1 answer:
vovikov84 [41]3 years ago
4 0

Answer:

Crane Company

If Crane Company uses LIFO, the value of the ending inventory is:

= $440.

Explanation:

a) Data and Calculations:

                               Units   Unit Cost   Total Cost

1/1/20 inventory      150      $4.00         $600

1/15/20 Purchase,    70         5.10            357

1/28/20 Purchase,   70        5.30            371

Total                      240                       $1,328

1/31/20 inventory   110       $4.00         $440 ($4.00 * 110)

b) The LIFO method assumes that goods that are sold first are the last that were purchased.  Therefore, the cost of the ending inventory is usually based on the cost of the earlier inventory purchased.  In our case, the cost per unit was based on the beginning inventory balance.

 

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How do you explain the fact that in the business world basically good people sometimes act immorally?
zhenek [66]

Answer:

Moral values is defined as the standard of bad as well as good actions which govern the choices as well as behavior of person or an individual. The moral of the person or an individual will derive from the religion, government, self or society.

Explanation:

Basically good people or individual act immorally in the business or company, it is because of feeling of deseperation. The deseperation feeling is often due to lack or short of finances or in need of more money because of personal misfortune of having to support drug addiction, settle a debt of gambling, maintain an expensive way of life, pay off the bank loan.

As the pressure of these kinds of situations continue to mount on basically a good person or individual, the more open minded, become to performing in an immoral act or way.

4 0
3 years ago
Too Young, Inc., has a bond outstanding with a coupon rate of 6.9 percent and semiannual payments. The bond currently sells for
dlinn [17]

Answer:

7.43%

Explanation:

Where the debt is publicly traded , the cost of debt is equal to the yield to maturity

Approximate yield to maturity = [coupon +(face value - market price )/ number of years to maturity ]/ [{face value + market price]/2]*100

Face value - 2000

Market price - 1905

years to maturity= 30 years

Coupon =( 6.9%*2000)/ 2 = 69

Workings

[69 + (2000-1905)/30] / [(2000+1905]/2 *100)

([69+3.17]/[(3905]/2*100)

(72.17/1952) * 100 = 3.70

Annual yield = 3.7*2= 7.4%

7.4 % being an approximate yield value , the closest option is 7.43%

8 0
3 years ago
An analytical technique used by management to focus attention on the most significant variances and give less attention to the a
vovikov84 [41]

Answer:

Management by exception

Explanation:

This is a practice of examining the financial as well as operational results of a business and bringing to management only those differences that show a significant difference between the budgeted and actual amounts. This allows managers to focus on the highly important variances that can affect the growth and profitability of a company significantly. This concept, can however be fine-tuned where small variances are shown but to low-level managers whilst the senior managers will look at the large variances.

8 0
3 years ago
Red offers to pay Sara to deliver certain documents within thirty minutes. Sara can accept the offer only by completing the task
hichkok12 [17]

B) A unilateral contract.

<h3><u>What exactly is a unilateral contract?</u></h3>

In contrast to the more typical bilateral contract, a unilateral contract is a sort of agreement where one party (also known as the offeror) makes an offer to another individual, business, or the general public. The offeree must carry out the act or provide the service specified in the agreement in order to get what the offeror promised.

While there are no promises made in a unilateral contract, there are fixed agreements and commitments between two parties in a bilateral contract. Instead, the offeror asks the offeree to fulfill a request, execute an act, or render a service.

<h3><u>What do you need to understand about unilateral contracts?</u></h3>

Although only one party is making a pledge in a unilateral agreement, it is nonetheless legally binding.

A task must be completed in order to accept a unilateral contract.

The unilateral agreement's act is not required to be carried out by the offeree.

Learn more about unilateral contracts with the help of the given link:

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4 0
2 years ago
Last year, you purchased a stock at a price of $78.00 a share. Over the course of the year, you received $2.70 per share in divi
lutik1710 [3]

Answer:

5.65%

Explanation:

Last year a stock of $78.00 was bought

During the period of one year $2.70 was received in dividend and inflation averaged 3.2%

Today the shares was sold for $82.20

The first step is to calculate the nominal return

= ($82.20-$78.00+$2.70)/$78.00

= 6.9/78

= 0.0885×100

= 8.85%

Therefore, the approximate real rate can be calculated as follows

= 8.85%-3.2%

= 5.65%

Hence the approximate real rate of return on this investment is 5.65%

6 0
3 years ago
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