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beks73 [17]
3 years ago
11

Marigold Corp. uses the periodic inventory system. For the current month, the beginning inventory consisted of 477 units that co

st $65 each. During the month, the company made two purchases: 715 units at $68 each and 364 units at $70 each. Marigold Corp. also sold 1197 units during the month. Using the LIFO method, what is the amount of cost of goods sold for the month?
Business
1 answer:
Blizzard [7]3 years ago
7 0

Answer:

COGS= $81,770

Explanation:

Giving the following information:

Beginning inventory= 477 units that cost $65 each.

Purchases:

715 units at $68 each

364 units at $70 each.

Units sold= 1,197

<u>To calculate the cost of goods sold under the LIFO (last-in, first-out) method, we need to use the cost of the lasts units incorporated into inventory:</u>

COGS= 364*70 + 715*68 + 118*65

COGS= $81,770

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3 years ago
The $1,000 face value ABC bond has a coupon rate of 10%, with interest paid annually, and matures in 3 years. If the bond is pri
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Answer:

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Explanation:

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2 years ago
Molly Jasper and her sister, Caitlin Peters, got into the novelties business almost by accident. Molly, a talented sculptor, oft
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a. The computation of Mollycaits' operating break-even point is <em>2,473 units</em> ($4,500/$1.82).

b. The calculation of Mollycaits' EBIT on the department store order is <em>$812.40</em> ($9,500 - $8,688).

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