Under the perpetual inventory system, Village Fabrics purchased 25 yards of blue plaid fabric at a cost of $2.00 per yard on June 1; on June 3, 22 yards were sold of the blue plaid, a new shipment came in with 25 more yards at a cost of $1.25 per yard on June 5, on June 15, 17 yards of the blue plaid fabric were sold; Village Fabrics purchased another 25-yard bolt at a cost of $1.00 per yard on
June 19; on June 27, 6 more yards had been sold. What is the value of inventory as of June 30 under the FIFO method?
a. $71.25
b. $75.00
c. $31.25
d. $35.00
c
You might also like to view...
A marketing program refers to
A. a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. B. the specific ratio within a marketing budget that divides resources between advertising, promotions, and personal selling. C. the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line. D. the marketing manager's controllable factors - product, price, promotion, and place - that can be used to solve a marketing problem. E. the allocation of resources within a firm towards individual marketing mix elements.
Which of the following statements is true regarding competitive marketing intelligence?
A) The advantage of using competitive marketing intelligence is negligible. B) The goal of competitive marketing intelligence is to improve recruiting efforts. C) Competitive marketing intelligence relies upon costly internal databases. D) Competitive marketing intelligence relies upon publicly available information. E) Companies using competitive marketing intelligence routinely ignore consumers' online chatter.
The trademark symbol SM is used to indicate a mark associated with a product.
Answer the following statement true (T) or false (F)
Which statement is not a recommendation to follow when giving an oral presentation?
A) Avoid words that you have difficulty pronouncing. B) Use frequent preview, summary, transition, and repetition. C) Use as much jargon as possible. D) Use notes sparingly. E) Use a conversational style, but speak more slowly than normal.