Under the LIFO (Last-In, First-Out) inventory costing method, the latest inventory purchases are assumed to be sold first, and the cost of goods sold is calculated using the cost of the most recent inventory purchases.
To determine the inventory balance at the end of January, we need to calculate the cost of goods sold (COGS) and the value of ending inventory.
**Perpetual Inventory System:**
Under the perpetual inventory system, the inventory balance is updated continuously for each purchase and sale transaction.
1. Calculation of Cost of Goods Sold:
Units sold on 1/23 = 1,800
Cost of units sold = 1,200 units x $3 (cost per unit) + 600 units x $1 (cost per unit) = $3,600 + $600 = $4,200
2. Calculation of Ending Inventory:
Units on hand on 1/31 = 400 (2,200 units on hand on 1/28 - 1,800 units sold on 1/23)
Cost of ending inventory = 400 units x $5 (cost per unit) = $2,000
Therefore, the inventory balance on January 31, under the perpetual inventory system, is:
Ending Inventory = $2,000
**Periodic Inventory System:**
Under the periodic inventory system, the inventory balance is updated at the end of the period, based on a physical count of inventory on hand.
1. Calculation of Cost of Goods Sold:
Units sold on 1/23 = 1,800
Cost of units sold = 1,800 units x $5 (cost per unit) = $9,000
2. Calculation of Ending Inventory:
Units on hand on 1/31 = 400 (2,200 units on hand on 1/28 - 1,800 units sold on 1/23)
Cost of ending inventory = 400 units x $5 (cost per unit) = $2,000
Therefore, the inventory balance on January 31, under the periodic inventory system, is:
Ending Inventory = $2,000
In both cases, the ending inventory value is the same ($2,000) since LIFO is used, and the cost of the latest inventory purchase is the highest. However, the cost of goods sold is different between the two methods due to the timing of inventory updates.
To know more about inventory system , refer here :
https://brainly.com/question/30245776#
#SPJ11
Woodsmith magazine gave instructions on how to build a pine cupboard. Lumber will be needed for two shelves 1134 inches long, two base sides 1112 inches long, and two door stiles 2918 inches long. Your lumber comes in 6 foot lengths. A. How many feet of lumber will you need? (Enter your fraction in lowest terms.)
Answer:
Hi there!
You'll need 860.67 feet of lumber.
Explanation:
First we calculate the needs of lumber in inches
Shelves: 2 x 1,134 = 2,268 inches
Base Sides: 2 x 1,112 = 2,224 inches
Door stiles: 2 x 2,918 = 5,836 inches
Total inches long of lumber needed:
2,268 + 2,224 + 5,836 = 10,328 inches
Then we convert the unit of measure from inches to feet:
One inch equals 0.08333 feet.
10,328 x 0.08333 = 860.67 feet
State 5 differences betweeen a stencil suplicator and a spirit duplicator
Answer:
spirit duplication is a method of reproducing documents where a spirit duplicator is used. The master copy is prepared from which copies are produced.
I hope is helpful
please i want to be a branalist
Explanation:
Your beloved 15-year-old dog is very sick. He won’t eat, can barely walk, and looks miserable. The vet says you
should consider “putting him down” to spare him suffering. You can’t bear to part with him. What should you do?
Answer:
Put him down. If you truly love your dog you would put your feelings aside and end his pain.
I've had to make this decision before and it is incredibly painful, but it's for the sake of your dog.
It's time to think like a manager. Corporate social responsibility is wonderful, though often criticized as purely rhetorical and laden with subtle profit goals. How can a manger emphasize genuineness of corporate social responsibilities and activities in society?
The correct answer to this open question is the following.
It's time to think like a manager. And more importantly, it is time to act like a manager and became a true leader.
Corporate social responsibility is wonderful, though often criticized as purely rhetorical and laden with subtle profit goals. That is why is so important that a manager could emphasize genuinely that corporate social responsibilities are a priority for the organization.
One good way to prove that and stop critics is to establish a series of programs and actions that benefit the environment and the community and that could be evaluated by the members of the society.
This includes mass media. Yes, the company has to open its doors and be willing and able to show the results of these programs. If the company has nothing to hide, it will have no problem to show its work and be proud of the monetary results as well as the social responsibility results that benefit the community.
which of these do you do first. when planning your career? a. make a list of you job preferences and skills. b. apply for as many jobs as you can. c. have a mock interview with a family member or friend. d. sign for an internship
Answer:
a. make a list of you job preferences and skills.
What is the primary purpose of incident investigation?
A. To determine the direct and root causes of the incident
B. To disturb physical evidence
C. To find fault
D.To satisfy the insurance company
What three equal payments, one in 2 years, one in 4 years, and one in 7 years would replace one single payment of $27,000 due today at an interest rate of 4. 17% compounding monthly?
Effective annual rate (EAR) = (1 + r / n)^n - 1
=$27,000 (1+4. 17% /7)^7- 1 =0.9538
The term "effective interest rate" (EIR), "effective annual interest rate," "annual equivalent rate" (AER), or simply "effective rate" refers to the percentage of interest on a loan or financial product that would be charged if compound interest accumulated over a year without any payments. The amount due each year in arrears, based on the nominal interest rate, is the compound interest. It is used to compare interest rates between loans and has different compounding intervals, such as weekly, monthly, half-yearly, or yearly. As compounding is not taken into account when calculating annual percentage rates (APR), the effective interest rate may be higher depending on how that term is defined in your area. In contrast, the periodic rate in the EIR is annualised with compounding.
Learn more about Effective annual rate from
https://brainly.com/question/13024233
#SPJ4
policies must specify penalties for unacceptable behavior and define an appeals process. group of answer choices true false
True. Policies should indeed specify penalties for unacceptable behavior and define an appeals process.
By clearly outlining the consequences of violating the policy, organizations can deter inappropriate behavior and maintain a fair and consistent approach to dealing with violations. Additionally, an appeals process provides individuals with a mechanism to challenge decisions or seek redress if they believe they have been treated unfairly.
Learn about Policies here:
https://brainly.com/question/30702255
#SPJ11
Problems are ____. People producing unacceptable results Results that are not acceptable Departments producing the unacceptable results Solutions that eliminate the unacceptable results Causes producing unacceptable results
Answer:
Results that are not acceptable.
Compute cycle efficiency if 22 days in accounts receivable 49 days sales in inventory 42 days payable outstanding
The cycle efficiency is a measure of how quickly a company can convert its resources into cash. It is calculated by subtracting the days payable outstanding (DPO) from the sum of the days sales in inventory (DSI) and days in accounts receivable (DAR).
Using the given information, we can calculate the cycle efficiency as follows.
Cycle efficiency = DSI + DAR - DPO
Cycle efficiency = 49 + 22 - 42
Cycle efficiency = 29
Therefore, the cycle efficiency is 29. A higher cycle efficiency indicates that a company can convert its resources into cash more quickly, which is generally seen as a positive sign for financial health and liquidity.
To know more about Liquidity, click here https://brainly.com/question/30588084
#SPJ11
Select the correct answer. Which term describes the ability to use different types of reasoning for different situations and analyze the possible outcomes of a decision? A. critical thinking B. goal setting C. decision making D. planning
What are the remedial measures of unemployment in nepal?explain
With the emergence of smartphones, users no longer have to carry a separate music player, a video game, a laptop, or a magazine to keep themselves entertained when traveling. A smartphone is loaded with a variety of applications to satisfy all the customer needs that different industries or products individually satisfied earlier. As a result, the smartphone industry has been posing a threat to a lot of other unrelated industries. What is this phenomenon best known as
Answer: Industry Convergence
Explanation: Industry Convergence has been boosted by the increased leverage of science and technology to various industries which has seen many industries break from the traditional single market focus and transition in a more robust cross industry focus whereby industries can incorporate several individual product into its production plan thereby providing more value added product and services. Smartphone companies as described above have integrated several single market products such as radio, music player, gaming, internet connectivity, camera and video recording, flash light(torch) and so on. thereby creating a robust and cross-industry product which adds more value and products able to withstand competition.
consider the relationship rr on all people such that r=\{(a, b)| a \text{ is taller than }b\}r={(a,b)∣a is taller than b} true or false: rr is a transitive relationship.
To answer your question, we first need to understand what it means for a relationship to be transitive. A transitive relationship is one in which if a is related to b and b is related to c, then a is also related to c.
In the case of the relationship rr on all people such that r={(a,b)∣a is taller than b}, we can say that if person a is taller than person b, and person b is taller than person c, then it must be true that person a is also taller than person c. This is because height is a transitive property - if person A is taller than person B, and person B is taller than person C, then it follows logically that person A is taller than person C.
Therefore, we can conclude that the relationship rr is indeed transitive.
In conclusion, the answer to your question is true - the relationship rr on all people such that r={(a,b)∣a is taller than b} is transitive. I hope this answer provides you with the information you were looking for, and that it is helpful to you.
To know more about relationship visit:
https://brainly.com/question/31248849
#SPJ11
Which term refers to the knowledge and skills needed to accomplish business tasks, approach business problems, and get a job done?.
Based on the question above, the correct answer is competence
The term is competence. It is the skill required to be successful in any job or job role.
CompetenceIt refers to the knowledge and skills needed to exhibit business tasks, tackle business problems, and get a job done.In conclusion, we can conclude that the correct answer is competence.
Learn more about competence here: https://brainly.com/question/11533619
Question # 1 Long Text (essay) Submit two news story summaries, noting the following: agency name(s), parties affected by the decision, status on period for comment, status on decision-making, and what decisions you would make in similar situations.
The answer is The public may not make technical decisions, but their opinions deserve consideration by those who are making those decisions.
What does making decisions mean?The process of choosing a course of action involves recognizing a decision, acquiring data, and weighing potential answers.
What three ways can one make a decision?Based on the level at which they occur, decision-making may also be divided into three types. The direction of an organization is decided upon strategically. Decisions regarding how something will be accomplished are considered tactical. Lastly, operational decisions are choices that staff members make every day to manage the company.
To know more about Decision making visit:
https://brainly.com/question/13244895
#SPJ1
Which statement best explains the relationship between points A and B?
A. Consumption reaches its highest point, and then supply begins to fall.
B. Inflation reaches its highest point, and then the economy begins to expand.
C. Production reaches its highest point, and then the economy begins to contract.
D. Unemployment reaches its highest point, and then inflation begins to decrease.
Answer: c
Explanation:
Production reaches its highest point, and then the economy begins to contract.
When production begins to span much with little or now buyer, the economy begins to experience decline. This is caused by the reduction in demand . When the demnd is not matching the supply this case tends to occur.
Answer:
The correct answer is C, "Production reaches its highest point, and then the economy begins to contract."
Explanation:
I just got it correct on the test. I hope this helps!
what federal law requires lenders to disclose the annual percentage rate of interest on a loan?
The federal law that requires lenders to disclose the annual percentage rate of interest on a loan is the Truth in Lending Act (TILA).
The Truth in Lending Act (TILA), enacted by the United States Congress, is a federal law that aims to protect consumers by promoting the informed use of credit. One of the key provisions of TILA is the requirement for lenders to disclose the annual percentage rate (APR) of interest on a loan.
The APR represents the true cost of borrowing by taking into account not only the nominal interest rate but also any additional fees or charges associated with the loan. By disclosing the APR, lenders provide borrowers with a standardized measure to compare the costs of different loan offers from various lenders.
TILA mandates that lenders must disclose the APR prominently and clearly, ensuring that consumers have the necessary information to make informed decisions about their borrowing options. This disclosure enables borrowers to assess the total cost of credit and determine whether a particular loan is affordable and suitable for their financial needs.
The Truth in Lending Act and its consumer protection measures in place to safeguard borrowers from deceptive lending practices, unfair credit terms, and predatory lending practices.
Learn more about the Truth in Lending Act
brainly.com/question/31925581
#SPJ11
Where would you go to review your client’s expense account to see if any transactions have been miscategorized?
If I had to review your client’s expense account to see if any transactions have been miscategorized, I would go to reclassify transactions in accountant tools.
By avoiding opening each transaction and reclassifying each one separately, this tool saves a ton of time.
You can choose a group of transactions and reclassify them into another account using the Reclassify Transactions feature in QuickBooks Online Accountant (QBOA).
The Reclassify Transactions tool searches a set of transactions based on a sort from either the Profit and Loss view or the Balance Sheet view.
This feature only filters to one of the two, not both at once.
Remember that you can change the classification from Profit and Loss to Balance Sheet or vice versa.
Hence, to review your client’s expense account to see if any transactions have been miscategorized we go to reclassify transactions in accountant tools.
Learn more about balance sheet:
https://brainly.com/question/17151793
#SPJ1
______ establish national bank, pay off war debt, pass whiskey tax and protective tariff.
Hamiltons financial plan establish national bank pay off war debt pass whiskey tax protective tariff.
What do you mean by national bank?A national bank is a type of commercial bank in the US. A national bank will be chartered by the U.S. Treasury's comptroller of the currency. This organization will carry out its duties as a Federal Reserve member bank and a district Federal Reserve Bank investing member. It's possible that national banks may help with the Treasury bond auction procedure. The Federal Deposit Insurance Corporation (FDIC) membership is a requirement. Internationally, "national bank" and "central bank" are interchangeable terms for banks that are under the control of a nation's national government. Within national economies, central banks determine monetary policies.
To learn more about national bank visit;
https://brainly.com/question/17189854
#SPJ4
Plzzz help me with this one
Answer:
what the question.....
By default, outlook will sort messages by date and by any conversation. Conversations area
In the outlook application, the conversation means the groups of messages between the same senders or recipients.
What is the outlook application?It is an application on windows that allows to send/receive email messages, manage calendar, store names, track tasks etc
Hence, in this application, the term conversation means the groups of messages between the same senders or recipients.
Read more about outlook application
brainly.com/question/1323179
#SPJ1
Jason is an ancient history lover. He wants to share his knowledge on social media, but he does not think that video platform will work well since he cannot afford to travel to many of the places that have the ruins he wants to share information about. What would be the best social media platform to provide information show pictures of these places?
The best social media platform where Jason can share his knowledge and provide information and show pictures of these places is where common people and his friends near and all over can connect with him and can be friends with him on that networking site.
What is social media?Social media refers to the means of interactions among people in which they create, share, and/or exchange information and ideas in virtual communities and networks. We offer an array of tools, including one-on-one consults with schools, departments and offices looking to form or maintain an existing social media presence to discuss social media goals and strategy, as well as offer insights and ideas.
Before creating any social media account, we must submit the Account Request Form.
Learn more about media, here:
https://brainly.com/question/21333773
#SPJ1
Activity: Critical Thinking Questions
1. Research is clear that charismatic power is the most impactful for a manager. Make your case for which of the other four is most useful.
2. The manager needs to create a safe environment and build credibility to get team members to follow them. What else should they do to elicit followership?
3. How can the leading function of management be leveraged within the context of Corporate Social Responsibility?
How to Answer the Critical Thinking Questions
For each of these answers you should provide three elements:
1. General Answer: Give a general response to what the question is asking or make you arguments to what the question is asking.
2. Outside Resource/s: Provide a quotation from a source outside of this textbook. This can be an academic article, news story, or popular press. This should be something that supports your argument. Use the sandwich technique explained below and cite your source in APA in text and then a list of full-text citations at the end of the homework assignment of all three sources used.
3. Personal Story: Provide a personal story that illustrates the point as well. This should be a personal experience you had, and not a hypothetical. Talk about a time from your personal, professional, family, or school life. Use the sandwich technique for this as well, which is explained below.
SANDWICH TECHNIQUE
Step 1: Provide a sentence that sets up your outside resource by answering who, what, when, or where this source is referring to.
Step 2: Provide the quoted material or story.
Step 3: Tell the reader why this is relevant to the argument you are making.
Please answer ALL and follow the instructions. Nonsense answer = Report
1. The most useful power for a manager depends on various factors, such as the specific situation, goals, and the personality and preferences of the manager.
2. To elicit followership, a manager should also:
Lead by example and demonstrate ethical and moral behaviorCommunicate a clear vision and set of goals for the teamProvide opportunities for growth and development for team membersFoster a positive and inclusive team cultureEmpower and delegate responsibilities to team members effectively3. The leading function of management can be leveraged within the context of Corporate Social Responsibility by:
Communicating and implementing the organization's CSR goals and policies throughout the teamEncouraging and supporting team members to engage in CSR initiatives and volunteer workIntegrating CSR into the team's day-to-day operations and decision-making processesMeasuring and reporting on the team's impact and progress towards CSR goals.What is Corporate social responsibility?Corporate social responsibility is a type of international private business self-regulation that tries to support philanthropic, activist, or charitable societal goals by participating in or promoting volunteer work or morally upstanding behaviors.
Corporate social responsibility is a corporate strategy that involves a company's monitoring and assurance of compliance with legal, ethical, environmental, societal, national, and international norms.
Learn more about social responsibility on:
https://brainly.com/question/1373962
#SPJ1
Which is the most important decision factor in transportation?
A.capacity
B. Cost
C.capability
D.reliability
1 point
10. In reviewing your account statement, you see a Balance Transfer Fee.
Based on the information you see in the statement, what would be the fee
if you transferred $3,000 from another credit card? *
Answer:
Find attached statement and the question which question number 10.
The correct option is C,$90
Explanation:
In the statement you would notice that the balance transfer from another credit card was $785,upon which balance transfer levy of $23.55 was charged(Section 7)
Intuitively, the percentage of balance transfer charge is $23.55 divided by the amount of balance transfer i.e $785
balance transfer charge(%)=$23.55/$785=3%
However, if the balance transfer were $3000,the charge is 3% of $3000 i.e $90 ($3000*3%).
The correct option then is C,$90
There is a bond that has a quoted price of 110.547 and a par value of $2,000. The coupon rate is 7.05 percent and the bond matures in 19 years. If the bond makes semiannual coupon payments, what is the YTM of the bond?
Answer:
the YTM of the bond is 127.55 %
Explanation:
The YTM of the bond is the Market return that similar Bond Holders expect from the bond.
This can be calculated using a Financial calculator as :
PV = - $ 110.547
FV = $2,000
PMT = $2,000 x 7.05 % x 1/2 = $70.50
N = 19 x 2 = 38
P/yr = 2
YTM = ???
Therefore, the YTM of the bond is 127.55 %
Which of the following are objects that can fulfill needs or wants?
A. Economics
B. Goods
C. Services
D. Tools
Answer:
the word objects makes me think B. also, wants can be fulfilled by objects, not tools or economics.
Explanation:
The objects that fulfill the needs or wants are goods. Thus, option (B) is correct.
What is need?The term needs refers to the basic necessity or the requirement of the person in order to survive. The basic need of the person is food, shelter and clothing. The term needs and wants to become together. As the once the needs of the person is fulfilled, the wants arises.
Need is something without which the person cannot survive in the world, whereas without fulfillment of the wants the person can survive. In today's economy, the terms wants and needs are often yet inaccurately used.
The needs and wants of an individual can be fulfilled through the goods and services. Various companies and corporation are today working to satisfy the needs and desire of the customers.
Therefore, it can be concluded that Goods are things that satisfy needs or desires. Hence, option (B) is correct.
Learn more about needs and wants here:
https://brainly.com/question/17889008
#SPJ2
An apprentice involves _____
A. Hands-on experience in a skill
B. Extensive internet research
C. Classes at a vocational-technical center
D. A four-year degree
Answer:
the answer is a
Explanation:
An apprentice is someone following the in print 18 around and doing what they're doing just less important things
Answer:
a
Explanation:
took the unit test
Who reports to the board of directors
Answer:
brainly users report the questions and the brainly monitor selects the report questions and delete ones that they do not like
Explanation:
hope this helps you :)