Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: Shandy Shutters has the following inventory information. Nov. 1 Inventory 15 units @ $8.00 8 Purchase 60 units @ $8.60 17
Purchase 30 units @ $8.40 25 Purchase 45 units @ $8.80 A physical count of merchandise inventory on November 30 reveals that there are 50 units on hand. Assume a periodic inventory system is used. Ending inventory under LIFO is $846. $438. $421. $863
A: The answer is $856, you must have a typo error: First you need goods available for sale - in units and in dollars. The goods add up to 150 and the cost is $1,284 (double check my math). [ You get the cost by multiplying the units x the purchase price and then adding the totals. So if we spent 1,284 on 150 units then the average cost would be $8.56 per unit. There are 50 units left so ending
inventory would be 50 x 8.56 = $428. Cost of goods sold is cost of goods available (1,284) less the ending inventory of 428 = 856 source: yahoo ]
Expert answered|sharpies|Points 5312|
Question
Asked 11/24/2011 4:59:04 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
26,488,509 questions answered
Popular Conversations
The following two sentences are saying the same thing. Emily, my ...
Weegy: The following two sentences are saying the same thing. Emily, my daughter, is in sixth grade. Emily, my daughter ...
11/13/2017 12:26:02 PM| 3 Answers
Efficiency is
Weegy: Efficiency is the ability to do things well, successfully, and without extra waste of money, efforts, time etc. ...
11/7/2017 6:41:21 AM| 2 Answers
Permafrost (gelisol) is considered a hearty, robust soil type. ...
Weegy: Permafrost (gelisol) is considered a hearty, robust soil type. True. User: What is the purpose of strip ...
11/7/2017 6:50:38 AM| 2 Answers
3.85 x 10^-3
Weegy: (3.85 x 10) - 3 User: Give the number of significant figures in this number: 40.00 Weegy: number of ...
11/15/2017 9:18:26 AM| 2 Answers
Solve for x in the equation 6x = 42.
Weegy: 6x = 42
11/8/2017 11:42:29 AM| 2 Answers
4y + 228 = 352.
Weegy: 4y + 228 = 352
11/8/2017 11:59:04 AM| 2 Answers
Coefficient of 2xy^3
11/8/2017 12:00:24 PM| 2 Answers
Weegy Stuff
S
L
P
Points 166 [Total 291] Ratings 9 Comments 76 Invitations 0 Offline
S
P
P
L
P
P
Points 20 [Total 1658] Ratings 0 Comments 20 Invitations 0 Offline
S
P
L
P
Points 20 [Total 150] Ratings 0 Comments 20 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.