Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 19, 2024

he following data are available for an item of LCC Inc. for the month of March: Mar. 1 Inventory 15 units at $10 each 15

he following data are available for an item of LCC Inc. for the month of March: Mar. 1 Inventory 15 units at $10 each 15 Purchase 30 units at $18 each 31 Purchase 20 units at $15 each Sale 30 units Using the last-in, first-out method, what is LCC Inc.'s cost of ending inventory for March? a. $540 b. $450 c. $510 d. $630

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Financial Management

Authors: James R Mcguigan, R Charles Moyer, William J Kretlow

10th Edition

978-0324289114, 0324289111

Students also viewed these Accounting questions

Question

Content AreaThe following data are available for an item of LCC Inc. for the month of March: Mar. 1 Inventory 15 units at $10 each 15 Purchase 30 units at $18 each 31 Purchase 20 units at $15 each...

Answered: 1 week ago

Question

Please please, I need your asap help, I need you to check if all of this answer are ok? Thanks Regards Name Mid Term Test 1 True False Indicate whether the statement is true or false 1 1 . Management...

Answered: 1 week ago

Question

I'm in serious need of help in my accounting class (acc205) . I'm falling behind and I need help with this weeks assignment. for week three for the may-june month . can someone please help me ....

Answered: 1 week ago

Question

★★★★★

Which properties of the Clean annotation must be true for the following to compile? (Choose three.) A. The annotation must contain exactly one element. B. The annotation must contain an element named...

Answered: 1 week ago

Question

★★★★★

You are the key user of the firm's accounts receivable system and have been asked to lead an internal audit of this system. Outline the steps you would take to complete the audit. Identify specific...

Answered: 1 week ago

Question

★★★★★

Use the accompanying graph of y = f(x). Is f continuous at -4? 4 (-2, 2) (-6, 2) (-4, 1) -6 -4 -2 4 -2 -4

Answered: 1 week ago

Question

★★★★★

Contrast Adlers and Freuds approaches to motivation.

Answered: 1 week ago

Question

★★★★★

StarGaze Company leased a truck for three months. Accounting guidance classifies the lease as an operating lease. StarGaze makes lease payments of $800 at the end of each month. What journal entry...

Answered: 1 week ago

Question

★★★★★

An electrical contractor's records during the last five weeks indicate the number of job requests: Click here for the Excel Data File Predict the number of requests for week 6 using each of these...

Answered: 1 week ago

Question

★★★★★

Overview You were recently approved to volunteer at a Volunteer Income Tax Assistance (VITA) program site in Spring Lake. Because you are a new volunteer, your supervisor, who is the VITA site...

Answered: 1 week ago

Question

★★★★★

Multi-step Income Statements The adjusted trial balance of Mally Distributors on December 31 is shown below. MOLLY DISTRIBUTORS Adjusted Trial Balance December 31 Debit Credit $30,200 Cash Accounts...

Answered: 1 week ago

Question

★★★★★

48 Assume that the actual amount of one of a company's variable expenses was $45,198. The company's planned level of activity was 19,000 machine-hours, and its actual level of activity was 18,500...

Answered: 1 week ago

Question

★★★★★

According to corporate policy, the average age of trade receivables and trade payables should both be 10 days and 20 days, respectively. At 30th June 2022, the Exeter hotel had trade receivables of...

Answered: 1 week ago

Question

★★★★★

A critical reflection on how you have developed personally and professionally from human service organization placement. Consider questions such as: What soft skills (for eg., communication,...

Answered: 1 week ago

Question

★★★★★

Fake Racing Hoax Racing Direct materials $7 500 $10 000 Direct labour $13 000 $12 500 Number of inspections 4 2 Number of set-ups 3 1 Number of machine hours 2000 4 500 Number of engineering 130 50...

Answered: 1 week ago

Question

★★★★★

Question 6 of 6 -/1 View Policies Current Attempt in Progress The Beca Book Company has two divisions: The Brick and Mortar division sells books through more than 100 bookstores throughout the United...

Answered: 1 week ago

Question

★★★★★

g(x) = x 5 5x 6 a. Show that g(x) = 0 has a root, , between x = 1 and x = 2. b. Show that the equation g(x) = 0 can be written as x = (px + q) 1/r , where p, q and r are integers to be found. The...

Answered: 1 week ago

Question

★★★★★

=+65. Mutual funds returns 2013. You have heard that if you leave your money in mutual funds for a longer period of time, you will see a greater return. So you would like to compare the 3-year and...

Answered: 1 week ago

Question

★★★★★

=+b) If you concluded there is a difference, estimate the size of that difference with a 90% confidence interval and explain what your interval means.

Answered: 1 week ago

Question

★★★★★

=+63. Marketing slogan. A company is considering marketing their classical music as music to study by. Is this a valid slogan? In a study conducted by some Statistics students, 62 people were...

Answered: 1 week ago

Previous Question Next Question