Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory330 units @ $18 5Purchase310 units @ $20 10Sales 230 units @ $2815Purchase190 units @ $21 24Sales 180 units @ $29
A. $8590
B. $7750
C. $16,130
D. $7540
E. $8260
Answer: B
You might also like to view...
Acme Global tries to be a good neighbor to the people who live and work in the cities where the organization’s plants are located. In one neighborhood, citizens asked Acme Global to identify the location of all its suppliers. When it was discovered that Acme Global used suppliers who were 1,000 miles from the plant, the citizens asked Acme Global to consider using more local suppliers. Acme Global agreed and found similar suppliers closer to its plant. This represents the influence of ______ in the external environment on the organization.
A. suppliers B. society C. technology D. competition
Keep in mind that while many students use note cards, most professional speakers do not, preferring instead to use a ______ containing their memory joggers.
Fill in the blank(s) with the appropriate word(s).
Merchandise costing $750 was sold on credit to Jaffes Company for $1,000 . Five days later, $150 of merchandise was returned. The cost of the returned merchandise was $115 . Assuming the periodic inventory system is used, the entry to record the return of the merchandise is a
a. debit to Merchandise Inventory for $115 and a credit to Cost of Goods Sold for $115. b. debit to Accounts Receivable for $115 and a credit to Sales Returns and Allowances for $115. c. debit to Merchandise Inventory for $150 and a credit to Cost of Goods Sold for $150. d. debit to Sales Returns and Allowances for $150 and a credit to Accounts Receivable for $150.
A table of random numbers must be ________ distributed, efficiently generated, and absent of patterns
Fill in the blank with correct word.