[The following information applies to the questions displayed below.] The inventory records for Radford Co. reflected the following:Beginning inventory @ May 1100 units @ $4.00First purchase @ May 7300 units @ $4.40Second purchase @ May 17500 units @ $4.60Third purchase @ May 23100 units @ $4.80Sales @ May 31900 units @ $7.80What is the amount of cost of goods sold assuming the LIFO cost flow method?
A. $3,600
B. $2,360
C. $4,320
D. $4,100
Answer: D
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Which of the following represents the combined sum of direct materials costs and direct labor costs?
A) conversion costs B) period costs C) prime costs D) fixed costs
Briefly assess the good and bad news of the current U.S. manufacturing environment.
What will be an ideal response?
On April 5, 1987, Anker, Inc, furnished Bold Corp with Anker's financial statements dated March 31, 1987 . The financial statements contained misrepresentations that indicated that Anker was solvent when in fact it was insolvent. Based on Anker's financial statements, Bold agreed to sell Anker 90 computers, "F.O.B.—Bold's loading dock.". On April 14, Anker received 60 of the computers. The
remaining 30 computers were in the possession of the common carrier and in transit to Anker. If, on April 28, Bold discovered that Anker was insolvent, then with respect to the computers delivered to Anker on April 14, Bold may: a. Reclaim the computers upon making a demand. b. Reclaim the computers irrespective of the rights of any third party. c. Not reclaim the computers since 10 days have elapsed from their delivery. d. Not reclaim the computers since it is entitled to recover the price of the computers.
An import duty has the effect of all of the following except
A. reducing the number of units exported. B. raising the price of the product in the importing nation. C. reducing the number of units imported. D. creating a trade restriction. E. protecting a domestic industry from competition.