Business, 27.09.2019 03:10, dreamadoreaa

At the beginning of the current period, chen carried 1,000 units of its product with a unit cost of $40. a summary of purchases during the current period follows. during the period, chen sold 2,800 units.

units unit cost cost
beginning inventory 1,000 $ 40 $ 40,000
purchase #1 1,800 44 79,200
purchase #2 800 52 41,600
purchase #3 1,200 58 69,600

which of these three inventory costing methods would you choose to:

1. reflect what is probably the physical flow of goods?
(a) lifo
(b) fifo
(c) average cost

2. minimize income taxes for the period?
(a) lifo
(b) fifo
(c) average cost

3. report the largest amount of income for the period?
(a) lifo
(b) fifo
(c) average cost

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 01:20, tsadface21

Suppose a stock had an initial price of $65 per share, paid a dividend of $1.45 per share during the year, and had an ending share price of $58. a, compute the percentage total return. (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) b. what was the dividend yield and the capital gains yield? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e. g., 32.16.)

Answers: 2

continue

Business, 22.06.2019 11:10, henryzx900

How much are you willing to pay for a zero that matures in 10 years, has a face value of $1,000 and your required rate of return is 7%? round to the nearest cent. do not include a dollar sign in your answer. (i. e. if your answer is $432.51, then type 432.51 without $ sign)

Answers: 1

continue

Business, 22.06.2019 12:00, jybuccaneers2022

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund

Answers: 1

continue

Business, 22.06.2019 12:50, emarquez05

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?

Answers: 2

continue

Do you know the correct answer?

At the beginning of the current period, chen carried 1,000 units of its product with a unit cost of...