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larisa86 [58]
3 years ago
10

Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis

Business
1 answer:
Pani-rosa [81]3 years ago
5 0

The amount allocated to ending inventory is $3664.

LIFO is an inventory method that means last in, first out. It means that it is assumed that the latest inventory that is sold, is the first to be sold. Ending inventory is made up of inventory that is purchased eelier.

  • Total inventory sold = 40 + 26 = 68 units
  • Sum of total inventory bought and beginning inventory = 10 + 60 + 30 = 100
  • Ending inventory = 100 - 68 = 32
  • Value of ending inventory = (22 x $112) + (10 x $120)

$2464 + $1200 = $3664

Please find attached the image used in answering this question. A similar question was answered here: ttps://brainly.com/question/13763849

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Answer: See explanation

Explanation:

A. The number of units started in the second department during April will be the number of units that is transferred in from the first department. This will be

= 19000 units

B. The number of units completed in the second department during April will be:

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C. The number of units started and completed in the second department during April will be:

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3 years ago
Marcos launched a small business by inventing, patenting and commercializing a new hand tool. Big Co. has produced a cheaper kno
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Answer:

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This type of agreement is very useful since you don't need to invest a lot of money, and the lawyer's pay comes from the money awarded by the jury (or a settlement).

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4 years ago
Crafting a strategy to compete in one or more foreign markets can be considered complex because 34) A) factors that affect indus
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Answer:

Options A, B, C, and E.

(Please check the explanation section before you judge or pick your answer)

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The options A, B, C, and E are the options that are considered complex if we want to Craft a strategy to compete in one or more foreign markets.

Please take note that if the question asked us to pick which of the options is NOT a inherently complex reason when crafting a strategy to compete in one or more foreign markets then we would have picked Option D.

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To trade in the international market, countries must have their individual strategies and Option D above is NOT a inherently complex reason when crafting a strategy to compete in one or more foreign markets

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4 years ago
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