A company purchased 100 units for $30 each on january 31. it purchased 400 units for $20 each on february 28. it sold a total of 470 units for $110 each from march 1 through december 31. if the company uses the last-in, first-out inventory costing method, calculate the amount of ending inventory on december 31. (assume that the company uses a perpetual inventory system.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A company purchased 100 units for $30 each on january 31. it purchased 400 units for $20 each on february 28. it sold a total of 470 units ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Suppose that everyone in a used-car example is risk neutral, potential car buyers value lemons at $750 and good used cars at $2 comma 800 , the reservation price of lemon owners is $250 , and the reservation price of owners of high-quality used cars
Answers (1)
Globo-Chem Co. reported net sales of $600 million last year and generated a net income of $132.00 million. Last year’s accounts receivable increased by $17 million. What is the maximum amount of cash that Globo-Chem Co.
Answers (1)
In the traditional keynesian model, if the government increases spending, then real gross domestic product
Answers (1)
Why is career and technical education supported by the government? A. Because it's required in school B. Because it prepares students for jobs C. Because it sends students to state colleges D. Because it leads to higher unemployment
Answers (1)
Which one of the following is not considered as material costs? a. Partially completed motor engines for a motorcycle plant b. Bolts used in manufacturing the compressor of an engine c. Rivets for the wings of a new commercial jet aircraft d.
Answers (1)
New Questions in Business
Market failure occurs when Question 22 options: an unrestrained market economy leads to too few or too many resources going to a specific economic activity. one good is superior to another and drives it out of the market.
Answers (1)
Using accrual accounting, revenues are recorded a. when cash is received at the time services are performed or products have been delivered to customers b.
Answers (1)
On January 1, Great Designs Company had a debit balance of $1,985 in the office supplies account. During the month, Great Designs purchased $463 and $420 of office supplies and journalized them to the asset account upon purchasing.
Answers (1)
Because the auditors of XYX Company accepted a client firm's questionable financial statements when the infractions have occurred over time, James believes that they are· setting ill-conceived goals.· exhibiting motivated blindness.
Answers (1)
One of your friends states that "operations management and supply chain management are primarily of interest to manufacturing firms." Is this true or false? Give some examples to support your answer
Answers (1)