Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 7 2.5 pts choco, inc. uses a periodic inv

Question 7 2.5 pts Choco, Inc. uses a periodic inventory system. During October, Choco, Inc....

50.1K

Verified Solution

Question

Accounting

image
Question 7 2.5 pts Choco, Inc. uses a periodic inventory system. During October, Choco, Inc. sold 1,000-245 units and had 245 units in ending inventory at the end of October If Choco, Inc. uses the LIFO inventory method, how much is ending inventory on the balance sheet as of October 31 Date Units Costs Total costs Oct 1 Beginning inventory 100 $2/unit $ 200 19 Purchased 900 $3/unit 2.700 $2.900 Ending inventory in October 245

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You are required to analyze a management information system for Nike. you need to prepare a...

General Management
Q

The volume of coffee that must be dispensed is 354 mL 0 002 mL of...

Basic Math
Q

28 The mass of a hydrogen atom is approximately 0 00000000000000000000000167 gram Write the mass...

Algebra
Q

help Gordon is 60 years old and Mary...

Accounting
Q

Lawrence, Inc., entered into a subscription contract with several subscribers that calls for...

Accounting
Q

please show all formulars used to help me understand better.

Accounting
Q

Do you think that the listed Principles of Digital Development are relevant to you or...

Accounting
Q

final academic definition of marketing using Harvard reference styles

Accounting
Q

ABC Corporation has current E&P of $20,000 and accumulated E&P of $55,000. During the year,...

Accounting
Q

Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Smiley Corporation wholesales repair products...

Accounting
Q

Question 49 4 pts A lease has a term of 5 years with annual payments...

Finance
Q

Management & Cost Accounting Malin Aviation is a discount airline which operates on one major...

Finance