Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. can you explain in detail how you arrived to the..

Can you explain in detail how you arrived to the...

70.2K

Verified Solution

Question

Accounting

image

Can you explain in detail how you arrived to the answe

30 company had 800 widgets in inventory, valued at $75 each. During the year ended 31 December 20x5 the following transactions took place. 20X5 500 widgets At $80 each 1 February Purchased 400 widgets For $45,000 1 May Sold Purchased 450 widgets 1 August At $69 each Sold 450 widgets 15 November For $28,750 What is the value of the company's closing inventory of widgets at 31 December 20X5? $8,000 B $66,854 C $67,050 D $68,000 A company values its inventory using the first in, first out (FIFO) method. At 1 January 20x5 the

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

Finance
1.2K views

It is desired to compare the after-tax economics of two mutually exclusive alternatives with the following...

Chemistry
1.2K views

1. Consider the following generic reaction: 2A + B + C -> 2D +3E From the following initial...

Advance Math
1.2K views

use laplace transform to solve the initial value problem: y''+4y=3sint y(0)=1, y'(0)=-1

Accounting
1.2K views

Question 2 Below is the Trial Balance of Marks Supermarket as at 31 March 2010. Dr...

Physics
1.2K views

25 A vessel of depth d filled with a liquid o refractive index u up...

Physics
1.2K views

Assertion Two large conducting spheres carrying charges Q1 and Q2 are brought close to each...

Basic Math
1.2K views

Use substitution to solve the system.3x - 6y = 12- 3x + y = -4Select...

Calculus
1.2K views

Persamaan garis singgung melalui titik P 2 4 pada lingkaran x 2 2 y 1...

Calculus
1.2K views

Use differentials to estimate the amount of paint needed (in m) to apply a coat...

Calculus
1.2K views

Find the present value of 8000 payable at the end of 3 years if money...

Accounting
1.2K views

Cash Budgeting for Carolina Apple, a merchandising firm, is performed on a quarterly basis. The...

Finance
1.2K views

Remember to use the appropriate forma g(x)=3x+5 h(x)=4x-1 Find: h(g(x))