Business, 17.03.2020 20:12 CourtGard

Starlight Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it purchased 20 units at $205 each. 11 units are sold on October 4. Using the LIFO perpetual inventory method, what is the value of inventory after the October 4 sale?- $3,485.- $3,445.- $3,500.- $3,472.- $3,461.

Answers: 2

Show answers

Answers

Answer from: Geo777

$3,445

Explanation:

Starlight Company has inventory of 8 units at a cost of $200 each on October 1.

On October 2, it purchased 20 units at $205 each.

11 units are sold on October 4.

Using the LIFO perpetual inventory method, the value of inventory after the October 4 sale will be:

Date Particulars Unit Cost Balance

Oct 1 Beginning inventory 8 $200

Oct 2 Purchases 20 $205 28

Oct 4 Sales 11 $205 17

The 17 units are made up of the balance of 9 from the purchases on Oct 2, and the 8 units of opening inventory.

Hence the value of inventory after the sale is (9 x $205) + (8 x $200) = $3,445

- $3,485.- $3,445.- $3,500.- $3,472.- $3,461.

Answer from: wedestttefera

$3,445

Explanation:

Last in First Out (LIFO) perpetual inventory method records the most recent good that enter the store as the one that is sold first.

From the question, 11 units sold will be deducted from the 20 units purchased on October 2, and we therefore have 9 units left for October 2. Based on this, the value of inventory after the October 4 sale can be calculated as follows:

Value of October 1 inventory = 8 × $200 = $1,600

Value of remaining October 2 inventory = (20 - 11) × $205 = 9 × $205 = $1,845

Value of inventory after the October 4 sale = $1,600 + $1,845 = $3,445

Therefore, the value of inventory after the October 4 sale is $3,445.

Answer from: Quest

don't be her freind because that peson is egnoring you so don't be her freind

Answer from: Quest

apex verified answer < 3

: : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : d. choose to : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : :

i really hope this < 3 < 3 < 3

Another question on Business

Business, 22.06.2019 10:00

Which term best fits the sentence? is the process of reasoning, analyzing, and making important decisions. it’s an important skill in making career decisions. a. critical thinking b. weighing pros and cons c. goal setting

Answers: 1

Answer

Business, 22.06.2019 11:00

Zoe would like to be able to save for night courses at the local college. which of these would be a good way for zoe to make more money available for savings without dramatically changing her budget? economía

Answers: 2

Answer

Business, 22.06.2019 12:40

Kumar consulting operates several stock investment portfolios that are used by firms for investment of pension plan assets. last year, one portfolio had a realized return of 12.6 percent and a beta coefficient of 1.15. the average t-bond rate was 7 percent and the realized rate of return on the s& p 500 was 12 percent. what was the portfolio's alpha?

Answers: 1

Answer

Business, 23.06.2019 01:30

What is the minimum educational requirement for a pediatric psychopharmacologist? a. md b. phd c. bachelors in medicine d. masters in medicine e. psyd

Answers: 3

Answer

You know the right answer?

Starlight Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it pur...

Questions