Business, 27.02.2020 21:17 emiliogutierrez

Inventory Records Widget Tek’s original accountant accepted a position with another firm and left in early March. You have been asked to review the subsidiary inventory ledger record for Widget Tek’s main product for March:

Date Quantity Unit Cost Total Cost
Mar. 1 850 $98.00 $83,300
1,275 $95.00 $121,125
Mar. 8 650 $98.00 $63,700
Mar. 11 325 $98.00 $31,850
Mar. 14 325 $98.00 $31,850
780 $103.00 $80,340
Mar. 22 260 $98.00 $25,480
Mar. 25 260 $98.00 $25,480
1,900 $100.00 $190,000

Study the inventory record for March and answer the questions that follow.

a. Assuming that the product sells for $170 and that 80% of sales are on account, determine the gross profit from sales for March.
b. Making the same assumptions as in (1), determine the ending inventory cost for March.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:20, justintisdale95

Which of the following areas provides residents with close access to high-paying jobs and cultural attractions? a. the suburbs b. exurbs c. rural areas d. the city 2b2t

Answers: 3

continue

Business, 22.06.2019 01:20, nonjabulomabaso7423

For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. complete parts (a) through (c) below. x (cash prize, $) p(x) grand prizegrand prize 0.000000008860.00000000886 200,000 0.000000390.00000039 10,000 0.0000016950.000001695 100 0.0001582930.000158293 7 0.0039114060.003911406 4 0.0080465690.008046569 3 0.012865710.01286571 0 0.975015928140.97501592814 (a) if the grand prize is $13 comma 000 comma 00013,000,000, find and interpret the expected cash prize. if a ticket costs $1, what is your expected profit from one ticket? the expected cash prize is $nothing.

Answers: 3

continue

Business, 22.06.2019 20:30, whitems33982

When many scrum teams are working on the same product, should all of their increments be integrated every sprint?

Answers: 3

continue

Business, 22.06.2019 21:40, koryn4880

Heather has been an active participant in a defined benefit plan for 19 years. during her last 6 years of employment, heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years). calculate heather’s maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants). assume that heather’s average compensation for her three highest years is $199,700. calculate her maximum allowable benefits.

Answers: 3

continue

You know the right answer?

Inventory Records Widget Tek’s original accountant accepted a position with another firm and left in...