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
On january 1, year 1, canseco plumbing fixtures purchased equipment for $52,000. residual value at the end of an estimated four-year service life is expected to be $4,000. the company uses the straight-line method.
Answers (1)
Identify which of the following statements are true for the corporate form of organization. 1. Ownership rights cannot be easily transferred. 2. Owners have unlimited liability for corporate debts. 3.
Answers (2)
By offering lower prices and a menu of personal communications options, such as caller identification and voice mail, the new telecommunications company has not only captured customers from other phone companies but also forced them to offer
Answers (1)
Ana's team was reorganized to be cross-functional, and each member is now expected to collaborate on every step of the process for updating her company's website, including generating content, encouraging traffic through SEO optimization, and
Answers (1)
The HR department at Buckworth Consulting recently developed and employed a certain test in the selection process for managers.
Answers (1)
New Questions in Business
What is responsible for guiding the monetary policy of the United States? O A. The Sarbanes-Oxley Act O B. Trade agreements C. Contract law O D. The Federal Reserve System
Answers (1)
The firm Patrick started nearly a decade ago is commonly referred to as a market leader. Upon reflecting on the leadership status of his company, Patrick considered the qualities that could eventually bring a firm to a leading position in the
Answers (1)
Divine Apparel has 2,600 shares of common stock outstanding. On October 1, the company declares a $0.25 per share dividend to stockholders of record on October 15. The dividend is paid on October 31.
Answers (1)
When considering time management techniques, it is important to remember that a. The more techniques used, the better off you will be b. You have to try strategies that don't make sense for your type of work C.
Answers (2)
Because of its sheer size and the volume of products it purchases from its vendors, walmart can dictate the prices it will pay. which of porter's five competitive forces does this represent?
Answers (1)