Following is a summary of beginning inventory, purchases, and sales. At what amount would the inventory be priced assuming, the first-in, first-out method is used under perpetual invventory procedure?

Beg. Inv., Jan. 1 2,400 units @ $8.80

Purchases:
Jan. 8 5,600 units @ $9.00
Mar. 15 2,000 units @ $9.10
Jul. 28 2,800 units @ $9.50
Nov. 30 400 units @ $9.70
Sales:
Feb. 13 3,000 units
Jun. 9 2,800 units
Sep. 22 1,400 units
At what amount would the inventory in the preceding question be priced if the last-in, first-out method were used under perpetual inventory procedure?

Under FIFO, net income exists if revenues are sufficient to cover the cost of the units of inventory sold.
Under LIFO, net income exists if revenues are sufficient to cover the cost of the units of inventory sold, provided new units are acquired before the end of the accounting period.
The principle argument for is that this method more precisely matches costs and revenues in current terms.
During a period of rising prices, will give a higher net income figure.

The hartman family is saving $400 monthly for ronald's college education. the family anticipates they will need to contribute $20,000 towards his first year of college, which is in 4 years .which best explain s whether the family will have enough money in 4 years ?

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?