FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following lots of Commodity z were avalable for sale duting the year. The firm uses the periodic system, and there are 24 unts of

image text in transcribed
The following lots of Commodity z were avalable for sale duting the year. The firm uses the periodic system, and there are 24 unts of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the accerding to the Lifo method? a. 55,369 b. 51,363 c. $1,248 d. 51,214

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

Corporate Governance A Pragmatic Guide For Auditors Directors Investors And Accountants Internal Audit And IT Audit

Corporate Governance A Pragmatic Guide For Auditors Directors Investors And Accountants Internal Audit And IT Audit

Authors: Vasant Raval

1st Edition

0367862751, 978-0367862756

More Books

Students also viewed these Accounting questions

Question

★★★★★
The current in a 120-V reading lamp is 2.6 A. If the cost of electrical energy is $0.075 per kilowatt-hour, how much does it cost to operate the light for an hour?

Answered: 1 week ago

Question

★★★★★
Critical Thinking: Lurking Variables Over the past decade, there has been a strong positive correlation between teacher salaries and prescription drug costs. (a) Do you think paying teachers more...

Answered: 1 week ago

Question

★★★★★
8.24 a. For which of the sample sizes given in the previous exercise would the sampling distribution of p be approximately normal if p 5 .65? b. For which of the sample sizes given in the previous...

Answered: 1 week ago

Question

★★★★★
Clydesdale Corporation has a cumulative temporary difference related to depreciation of $580,000 at December 31, 2010. This difference will reverse as follows: 2011, $42,000; 2012, $244,000; and...

Answered: 1 week ago

Question

★★★★★
Top managers of Preston Industries predicted 2016 sales of 15,000 units of its product at a unit price of $7.50 Actual sales for the year were 14,100 units at $9.50 each. Variable costs were budgeted...

Answered: 1 week ago

Question

★★★★★
Cameron Corp. is purchasing new equipment with a cash cost of $300,000 for an assembly line. The manufacturer has offered to accept $68,900 payments at the end of each of the next six years. What is...

Answered: 1 week ago

Question

★★★★★
[The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At...

Answered: 1 week ago

Question

★★★★★
You join NASA. As you announce at the press conference, you did this world already and kind of crushed it, so you're pretty psyched to get off this "stink-planet" and see what's out there. Your...

Answered: 1 week ago

Question

★★★★★
Use the following information to answer the question(s) below. On June 30, 2014, the Able, Baker, and Charlie partnership had the following fiscal year-end balance sheet: Cash $ 8,000 Accounts...

Answered: 1 week ago

Question

★★★★★
Problem 1: Analysis of performance of the cubic spline. Prepare a code implementing Lagrange's interpolating polynomial P(x) for function y = f(x) on the interval [a, b] using n + 1 equally spaced...

Answered: 1 week ago

Question

★★★★★
305 mg of C6H12O6 in 55.2 mL of solution whats the molarity

Answered: 1 week ago

Question

★★★★★
A Was Bradley wrong, or was he just doing what any aspiring journalist would do to free up his time? Do you have a greater understanding for his struggle in light of your own position?

Answered: 1 week ago

Question

★★★★★
B Is it OK to pawn your work off on unpaid college students, even if theyre willing to do it?

Answered: 1 week ago

Question

★★★★★
Did the event attract volunteers from outside the group? Fifteen nonmembers participated in the cleanup, among them several schoolchildren who attended with their parents.

Answered: 1 week ago

Previous Question Next Question