Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company just starting business made the followin

A company Just starting business made the following inventory purchases and sales in June Purchases...

80.2K

Verified Solution

Question

Accounting

image
A company Just starting business made the following inventory purchases and sales in June Purchases Date Units Total Cost June 1 150 units $ 780 1,170 1,260 June 10 200 units June 15 200 units Juno 28 150 units Cost of Goods Available 700 units 990 $4,200 Sales June 12 250 units June 29 250 units Ending inventory on June 30 200 units of the company is using the PERPETUAL Inventory system, banod on the LIFO cont flow assumption, the amount allocated to cost of goods sold for June is a $3,127,50 b. $2,895.00 o $2,955.00 d. $3,050.00

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Required information Exercise 8-18 Complete the accounting cycle (LO8-1, 8-2, 8-4, 8-6) On January 1, 2021,...

Mechanical Engineering
1.2K views

CULTURAL BACKGROUND: AMERICAN AND JAPANESE BUSINESS CULTURES Discuss in detail recent developments in the competition and colaboration...

Accounting
1.2K views

51-54. Eve, age 65 and single with no dependents, provided the following information for her 2018...

Basic Math
1.2K views

A particle is moving along a straight line such that the distance traveled (in feet)...

Calculus
1.2K views

2 4 4 2 22 definite integral that is provide a b and f x...

Calculus
1.2K views

The graph of the function fabove consists of three line segments BI U 22 1...

Calculus
1.2K views

Which of the following functions are solutions of the differential equation y 3y 18y 0...

Accounting
1.2K views

SUNLAND Company Comparative Balance Sheets December 31 \begin{tabular}{|c|c|c|} \hline Assets & 2022 & 2021 \\...

Accounting
1.2K views

The Institute for Justice and Opportunity is requesting a core support grant of $500,000 from...

Accounting
1.2K views

Straight-Line Depreciation Irons Delivery Inc. purchased a new delivery truck for $42,000 on January 1,...

Accounting
1.2K views

The supplies account had a balance of $1,188 at the beginning of the year and...

Accounting
1.2K views

Problem 5-13 (Algo) Lease vs. buy alternatives [LO5-3, 5-8, 5-10] Kiddy Toy Corporation needs to...