He following units of an inventory item were available for sale during the year: Beginning inventory 10 units at $52 First purchase 19 units at $50 Second purchase 25 units at $55 Third purchase 14 units at $64 The firm uses the periodic inventory system. During the year, 48 units of the item were sold. The value of ending inventory using FIFO is
a.$2,176
b.$981
c.$1,746
d.$1,226
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “He following units of an inventory item were available for sale during the year: Beginning inventory 10 units at $52 First purchase 19 ...” 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
A recent campaign cost $100,000 in advertising. It contacted 15,000 potential customers and resulted in acquiring 300 new customers. What is the acquisition cost per customer
Answers (1)
A monopolistically competitive firm chooses A. the price of the product it sells but market forces determine the quantity it will be able to sell. B.
Answers (1)
A friend asks you to invest $500 at 5 percent interest in her business. you want to invest but are concerned because your friend has not had any business experience. how can you offset your risk?
Answers (1)
Suppose that Jack and Hal and Sophia enter in to a contract for the sale of the business. Jack however was drunk at the time that the negotiations took place and at the time of the signing of the contract.
Answers (1)
J. Gladwin has a capital balance of $106,000 and R. Selleck has a capital balance of $94,000 in their partnership as of September 30. On October 1, Gladwin sells one-half of her partnership interest to R. Dennis for $60,000 cash.
Answers (1)
New Questions in Business
Conversion to an e-commerce or m-commerce system enables organizations to increase the accuracy of order processing and order fulfillment. a. True b. False
Answers (1)
What is the financial impact on a company when a customer returns a product for a refund? A. Sales revenue will decrease because sales revenue will be debited. B. Sales revenue will increase because sales revenue will be credited. C.
Answers (1)
On october 1, 2014, donald anderson exchanged an apartment building having an adjusted basis of $375,000 and subject to a mortgage of $100,000 for $25,000 cash and another apartment building with a fair market value of $550,000 and subject to a
Answers (1)
Assume that a firm separately determined inventory under FIFO and LIFO and then compared the results. In each space below, place the correct sign; less than (), or equal (=) for each comparison, assuming periods of rising prices. 1.
Answers (1)
When an organization expands into a totally new line of business, it is implementing a strategy of: a. Related diversification b. Unrelated diversification c. Cross-functional diversification d. Product line diversification e.
Answers (1)