answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
soldi70 [24.7K]
2 years ago
10

Assume that we use a perpetual inventory system and that five identical units are purchased at the following dates and costs: Ap

ril 5 $10 April 10 $12 April 15 $14 April 20 $16 April 22 $17 One unit is sold on April 25. The company uses the weighted average inventory costing method. Identify the cost of the ending inventory on the balance sheet. (Round your answer to 2 decimal places.)
Business
1 answer:
quester [9]2 years ago
5 0

Answer:

Cost of goods sold on April 25 is $13.80 and the inventory balance is $55.20

Explanation:

Data given:total unit

Cost of purchase with  data;

Date                  Amount

April 5                 $10

April 10                $12

April 15                $14

April 20                 $16

April 22                 $17

Total cost             69    

Average cost = total cost /total quantity

                       = 69/5

                       =13.8

The cost of the ending inventory is given on the balance sheet below

Date      Purchases              Cost of            Inventory Bal.   Avg Cost

                                            goods sold

April 5   $10* 1 unit= $10                -                        $10               10/1 = $10

April  10  $12* 1 unit=$12               -               10+ 12 = 22            22/2 = 11

April  15   $14* 1 unit=$14                  -           22+14 =36              36/3 = 12

April 20   $16* 1 unit= $16                  -          36 +16 =52            52/4 = 13

April 22    $17* 1 unit = $17                 -          52+17 =69            69/5 = 13.8

April 25             -           1 unit*13.8 = 13.80      69 - 13.8 = 55.20

You might be interested in
Provide an argument of why an organization should design and implement a Benefits Plan that complements its overall corporate vi
Katyanochek1 [597]

Explanation:

A corporate benefits plan is used as a relevant tool for the company to prepare for business and organize itself more strategically in the market.

For example, an employee benefit plan can offer several additional advantages that justify the company's mission and values ​​of exercising corporate governance that prioritize the well-being of its employees. By offering advantages such as a health plan, the company consequently increases the incentive to work, motivates employees and becomes an attractive strategy for attracting good professionals in the market.

8 0
2 years ago
LO 3.4If the sales mix in a multi-product environment shifts to a higher volume in low contribution margin products, the break-e
kompoz [17]

Answer:

Option 1 is wrong because in the case of multi-product, breakeven is weighted average which means the sales price will weighted average of sale prices of all the multi-products in the sales mix. If we change the weightings the weighted average costs and selling prices changes and so the contribution changes.

Option 2 is also sligthly wrong because Contribution margin per composite unit decreases if the volume of low contribution margin products increases in the sales mix. This means:

Breakeven Point=Fixed Cost/ Contribution per unit.........equartion 1

If the contribution per unit has been decreased the breakeven will rise.

Its impact depends upon the portfolio of products company is managing. It means it increases breakeven with high effects if the products in sales mix 2 to 3.

Option 3 is 100% right because equation 1 is

Breakeven Point=Fixed Cost/ Contribution per unit

Which says

If the contribution per unit has been decreased the breakeven will rise.

Option 4 is absolutely wrong because if we shift to higher volume in low contribution margin products, Contribution margin per composite unit decreases if the volume of low contribution margin products increases

which means Weighted average contribution has been decreased and as a result breakeven point according to equation 1 has been incresed.

5 0
2 years ago
Assume that you plan to buy a share of XYZ stock today and to hold it for 2 years. Your expectations are that you will not recei
Stolb23 [73]

Answer:

Price to be paid today = $118.35

Explanation:

<em>The price of a share can be calculated using the dividend valuation model  </em>

<em>According to this model the value of share is equal to the sum of the present values of its future cash dividends discounted at the required rate of return.  </em>

The model can applied as follows:

PV of dividend = D×(1+r) ^(-n)

D- dividend , r - required rate , n- number of year

D- 9.25,  r - 16%, n = 2

PV of dividend = 9.25 × (1.16)^(-2)= 6.9

PV of disposal value

PV of dividend = F ×  (1+r) ^(-n)

D- disposal value  , r - required rate , n- number of year

PV of disposal value  = 150 × (1.16)^(-2)= 111.47

Price to be paid today

Total present value  =  6.9  +  111.47  = 118.35

Price to be paid today = $118.35

4 0
2 years ago
One way to possibly make jobs more ​ ________ would be to connect employees with the beneficiaries of their work or service that
amm1812

Meaningful.

People will have more motivation if they know their work is meaningful and makes an impact.

4 0
2 years ago
Imagine that you have started working at a company that has implemented total quality management. It is your job to communicate
Kobotan [32]
B is the correct answer
8 0
2 years ago
Read 2 more answers
Other questions:
  • When an athletic director at state university evaluates how much time a coach spends with the team, the coach's ethical impact o
    11·1 answer
  • Venus wholesale co. started carrying a new product in december. purchases and sales of this product during the month were:
    13·1 answer
  • Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and had a take-home p
    8·1 answer
  • What may be the opportunity cost of buying apples?​
    6·1 answer
  • During its most recent fiscal year, Raphael Enterprises sold 380,000 electric screwdrivers at a price of $20.40 each. Fixed cost
    7·1 answer
  • On October 1, Year 1, Jason Company paid $7,200 to lease office space for one year beginning immediately. What is the amount of
    5·1 answer
  • A firm purchased raw materials on account and paid for them within 30 days. The raw materials were used in manufacturing a finis
    6·1 answer
  • Dragonfly, publisher of children's books, has purchased White Rabbit, another publisher of children's books. Both companies' boo
    9·1 answer
  • Assume that, on January 1, 2021, Sosa Enterprises paid $3,000,000 for its investment in 36,000 shares of Orioles Co. Further, as
    7·1 answer
  • Which of these is an acceptable less hazardous method of cleaning than solvents?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!