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
alekssr [168]
3 years ago
7

The inventory data for an item for November are: Nov. 1 Inventory 20 units at $19 4 Sale 10 units 10 Purchase 30 units at $20 17

Sale 20 units 30 Purchase 10 units at $21 Using a perpetual system, what is the cost of merchandise sold for November if the company uses FIFO?
Business
1 answer:
kolezko [41]3 years ago
8 0

Answer:

=  $490

Explanation:

<em>Under the </em><em>First-in-First-Out  </em>( FIFO ) <em>method of inventory valuation,  inventories are valued using the price of the earliest batch in stock until the batch is exhausted when the price of the next oldest batch is used and so on.</em>

Date     sale units       Workings                         Value

              10                    10 × $19                              190

               20        (10 × $19)+( 10 × $20)                  390

The cost o he merchandise = $190 + $390

                                             =  $490

You might be interested in
Which of the following impacts your body language and how others may perceive you?
dimulka [17.4K]
Eye contact

Face expression

Movement

Posture
3 0
3 years ago
Read 2 more answers
Diamond Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $59 per unit. The
Gemiola [76]

Answer:

<u>Part(a) Differential analysis as at February 24</u>

Make (Alternative 1) :

Direct Materials                             $35.00

Direct labor                                    $18.00

Variable Overheads                      $2.70

Fixed Overheads                           $0.00

Total Make Costs                         $55.70

Buy (Alternative 2) :

Total Purchase Cost                    $59.00

<u>(b) On the basis of the data presented, would it be advisable to make the carrying cases or continue buying them? </u>

It is clear that from comparison of the cost of Purchase and the Cost of Making the Carrying Cases, the Cost of Making the Carrying Cases is lower than the Cost of Purchasing the Cases by $3.30

It is thus advisable to make carrying cases instead of buying them

Explanation:

Total Make Costs;

The Factory fixed overheads are irrelevant to this decision hence they were ignored in the make cost calculations.

5 0
3 years ago
Rate the following bank accounts from most to least liquid: CD, savings account, checking account, money market account. Also ex
lutik1710 [3]

D) They are ranked by how quickly we can access the cash.

7 0
3 years ago
Read 2 more answers
Kyle is trying to decide which brand of diapers he should buy for his newborn daughter. each of the brands has its own unique fe
erastovalidia [21]
He chose the one that he was familiar with.  Please mark Brainliest!!!
6 0
3 years ago
Read 2 more answers
When a large marketing company contracts with a payroll service company to process employee checks for them, they
Elenna [48]
B
Because the marketing company undertook the payroll service company as a cost cutting measure.
7 0
3 years ago
Other questions:
  • Suppose the price is $10, the quantity supplied is 50 units, and the quantity demanded is 100 units. For every $1 rise in price,
    10·1 answer
  • App Holdings is expected to pay dividends of $1.50 every six months for the next three years. If the current price of App Holdin
    8·1 answer
  • As it turns out, Brian and Sondra's good fortune with the restaurant has caused their competitors to lose business. In fact, Caj
    5·1 answer
  • Andrew’s coworkers often come to him for information about how their company handled disgruntled customers in the past since he
    12·1 answer
  • Which is not a factor in determining the amount you should consume from each food group in the mypyramid plan?
    12·2 answers
  • Question 2 of 8
    15·1 answer
  • You are considering investing in a project with the following possible outcomes: Probability of Investment States Occurrence Ret
    9·1 answer
  • Two​ countries, Alpha and​ Beta, have identical production possibilities frontiers. What is the outcome if Alpha produces at poi
    6·1 answer
  • Latoya has a lot of doctor’s visits coming up, and her children all need vaccinations for the upcoming school year. Which type o
    6·1 answer
  • Herbert Simon (cited in Certo &amp; Certo (2014) questioned the ability of managers to make rational decisions. In his opinion,
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!