![kimlyn58p0wyn0](/avatars/14055.jpg)
kimlyn58p0wyn0
09.03.2020 •
Business
In its first month of operations, Splish Brothers Inc. made three purchases of merchandise in the following sequence: (1) 155 units at $7, (2) 410 units at $8, and (3) 100 units at $9. Assuming there are 310 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Splish Brothers uses a periodic inventory system.
Solved
Show answers
More tips
- O Other How to Accidentally Get a Rare Coin with Your Change and How to Know Its Value?...
- H Health and Medicine Simple and Effective: How to Get Rid of Cracked Heels...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
- A Art and Culture When Will Eurovision 2011 Take Place?...
- S Style and Beauty How to Choose the Perfect Hair Straightener?...
- F Family and Home Why Having Pets at Home is Good for Your Health...
- H Health and Medicine How to perform artificial respiration?...
- H Health and Medicine 10 Tips for Avoiding Vitamin Deficiency...
Answers on questions: Business
- B Business Capital that is invested by private companies outside of their home countries is called:...
- B Business The shareholders equity of Green Corporation includes $332,000 of $1 par common stock and $520,000 par of 7% cumulative preferred stock. The board of directors...
- B Business Questions from the topic of forms of business organisation...
- B Business Greg s average balance checking account pays simple interest of 5.4% annually, and he made $7.20 in interest last month. What was Greg s average balance last month?...
- B Business Adjusting entries can be classified as...
- B Business Portfolio A and Portfolio B are efficient. Portfolio A has an expected return of 10% and a standard deviation of 15%. Portfolio B has an expected return of 10.3%...
- B Business Подумай почему монеты делают из металлов?как ты думаешь,как определяется их ценность?...
- B Business Do you think my baby cousin should be a model?...
- S Spanish How do you say it s been a minute? in spanish?...
- M Mathematics Find the missing lengths of the sides....
Ответ:
FIFO= $2,580
LIFO= $2,325
Explanation:
Giving the following information:
(1) 155 units at $7
(2) 410 units at $8
(3) 100 units at $9.
Assuming there are 310 units on hand.
FIFO (first-in, first-out) method:
Ending inventory= last units purchased
Inventory= 100*9 + 210*8= $2,580
LIFO (last-in, first-out)
Inventory= first units purchased
Inventory= 7*155 + 8*155= $2,325
Ответ:
Expenses
Explanation: