Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bonita industries had 490 units of "dink" in its i

Bonita Industries had 490 units of "Dink" in its inventory at a cost of $5...

70.2K

Verified Solution

Question

Accounting

image
Bonita Industries had 490 units of "Dink" in its inventory at a cost of $5 each. It purchased, for $2410, 310 more units of "Dink". Bonita then sold 580 units at a selling price of $11 each, resulting in a gross profit of $2620. The cost flow assumption used by Bonita O is FIFO. is LIFO. is weighted average. cannot be determined from the information given

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

Biology
1.2K views

Essay The Human Genome Project   (No more than 3 pages, 1.15 spacing, Calibri or other standard font) write an...

Biology
1.2K views

Case Presentation A form of HCO that offers nurses the opportunity to fully realize their professional role...

Mechanical Engineering
1.2K views

My device is an AIR COMPRESSOR Choose the working fluid (substance) for your model device Choose the...

Advance Math
1.2K views

Prove that 3^n + 7^(n?1) ? 4 (mod 12) for all n ? N+.

Biology
1.2K views

through all of the following except O implementing stricter rules and processes when caring for...

Basic Math
1.2K views

A car was valued at $28,000 in the year 1995. The value depreciated to $15,000...

Basic Math
1.2K views

The area of a square is increasing at a rate of 12 centimeters squared per...

Statistics
1.2K views

Warehouse Grocery Shop ping Therese manages a grocery warehouse that encourages volume shop ping on...

Statistics
1.2K views

A Canadian study measuring depression level in teens as reported in the Journal of Adolescence...

Accounting
1.2K views

Which of the following is considered a period cost? Select one:...

Accounting
1.2K views

On May 1,2025 , Blossom Co. issued $3100000 of 7% bonds at 103 , which...

Accounting
1.2K views

Iguana, Incorporated, manufactures bamboo picture frames that sell for $25 each. Each frame requires 4...