Business
Business, 30.03.2020 17:49, queenkimm26

The Reuschel Company began 2021 with inventory of 24,000 units at a cost of $7 per unit. During 2021, 64,000 units were purchased for $8.50 each. Sales for the year totaled 75,000 units leaving 13,000 units on hand at the end of 2021. Reuschel uses a periodic inventory system and the LIFO inventory cost method. A) Calculate the cost of goods sold for 2021B) From a financial reporting perspective, what problem is created by the use of LIFO in this situation? Describe the disclosure required to report the effects of this problem.

answer
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 09:40, Tyrant4life
Henry crouch's law office has traditionally ordered ink refills 55 units at a time. the firm estimates that carrying cost is 35% of the $11 unit cost and that annual demand is about 240 units per year. the assumptions of the basic eoq model are thought to apply. for what value of ordering cost would its action be optimal? a) for what value of ordering cost would its action be optimal?
Answers: 2
image
Business, 22.06.2019 09:50, thanitoast84
Acar manufacturer uses new machines that automatically assemble an engine from parts fed to the system. the machine can regulate the speed ofassembly depending on the number of parts produced. which type of technology does this machine use? angenoem mense wat ons in matin en esta va ser elthe machine uses
Answers: 3
image
Business, 22.06.2019 13:50, vegeta8375
The state troopers in one state have a motto, “nine you’re fine; ten you’re mine,” which is the standard that they use for pulling over speeders on the state highways. in other words, if the posted speed limit is 55 mph, drivers can drive at a rate up to 64 mph without fear of getting a ticket. which of the following best describes the ethical culture in the state? a. the troopers are following a standard of positive law. b. the troopers are following a normative standard. c. the troopers are following a headline test. d. the troopers are following the blanchard/peale standard.
Answers: 1
image
Business, 23.06.2019 01:00, shelovejaylocs
Why does the downward-sloping production possibilities curve imply that factors of production are scarce?
Answers: 1
Do you know the correct answer?
The Reuschel Company began 2021 with inventory of 24,000 units at a cost of $7 per unit. During 2021...

Questions in other subjects: