Business, 04.07.2020 14:01 rleiphart1

Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item Beta Units Cost April 2Purchase 1 $314 April 15Purchase 1 317 April 20Purchase 1 320 Total 3 $951 Average cost per unit $317($951 ÷ 3 units) Assume that one unit is sold on April 27 for $403. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost method. Gross ProfitEnding Inventory a. First-in, first-out (FIFO)$ $ b. Last-in, first-out (LIFO)$ $ c. Weighted average cost$ $

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 18:10, Annabeans1105

Grace period is a period of time before the credit card company starts charging late fees. truefalse

Answers: 1

continue

Business, 22.06.2019 14:30, lilquanreem8051

Bridge building company estimates that it will incur $1,200,000 in overhead costs for the year. additionally, the company estimates 50,000 direct labor hours will be spent building custom walking bridges for the year at a total direct labor cost of $600,000. what is the predetermined overhead rate for bridge building company if direct labor costs are to be used as an allocation base?

Answers: 3

continue

Business, 22.06.2019 15:30, jasonoliva13

Careers in designing, planning, managing, building and maintaining the built environment can be found in the following career cluster: a. agriculture, food & natural resources b. architecture & construction c. arts, audio-video technology & communications d. business, management & administration

Answers: 2

continue

Business, 22.06.2019 20:00, samanthasheets8925

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.

Answers: 3

continue

You know the right answer?

Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item...