Eaton Electronics uses a periodic inventory system.

On March 31, Eaton has two plasma TVs on hand at a cost of $1,500 each (serial numbers 11534892 and 11534894).
In April, the company purchases four more identical TVs from Toshiba for $1,450 each (serial numbers 11542631 through 11542634).
In May, the company purchases five more identical TVs for $1,600 each (serial numbers 11550964 through 11550968).
In June, Eaton sells two of these TVs (serial numbers 11534894 and 11542631).

There were no additional purchases or sales during the remainder of the year.

Eaton Electronics uses the LIFO method. What is the cost of its ending inventory?

Answers

Answer 1

The cost of ending inventory of Eaton Electronics on June 30 is $13,600.

What is the LIFO method?

The LIFO method values the cost of goods sold based on the assumption that goods sold are from the latest stock.

For example, using LIFO, Easton would have the two TVs sold based on the cost of the May Purchases instead of specific identification.

Data and Calculations:

Beginning inventory (2 x $1,500) = $3,000

April Purchases (4 x $1,450) = $5,800

May Purchases (5 x $1,600)=  $8,000

Cost of goods available for sale = $16,800

Cost of goods sold (2 x $1,600) = $3,200

Ending inventory = $13,600 ($16,800 - $3,200)

Thus, the cost of ending inventory is $13,600.

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Related Questions

Please use the following baseline information:

Company ABC is offering bonds to investors to pay for its corporate expansion.
Par value: $1,000 per bond
Coupon rate: 5 percent per year (fixed rate)
Maturity: 10 years

At the end of 10 years, the bondholder would have received the following amount in total:
$15,000.
$1,000.
$5,000.
$1,500.

(I know it’s not $5,000)

Answers

Answer:

The coupon rate would have been 5 percent, which means the bond would have paid out the full $15,000 over 10 years.

Explanation:

Genpact Select all that is false about lean digital

Answers

The false statement about Genpact's lean digital is A. it involves Digital Assets built on a set of chosen technologies that robotics process automation to artificial intelligence.

What is lean digital?

Lean Digital is a technique that firms use to apply lean concepts to the creation of new digital products.

The principles of lean digital are:

Process-centric Design thinking Agility.

Thus, the false statement about Genpact's lean digital is Option A.

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Question Completion with Answer Options:

A. It involves Digital Assets built on a set of chosen technologies that

robotics process automation to artificial intelligence.

B. It focuses only on technology deployment.

C. It uses Digital SEP to re-imagine outcomes.

D. It uses Design Thinking to improve User Experience.

Question 23
Investment gains earned during an initial time period are then put to work in the second time period earning additional
investment returns. What is this called?
A) Debt
B) Principal
C) Interest
(D) Compound growth
Questions Filter (40)
K First < Previous
4.75 Points
Next > Last >
Continue

Answers

The concept of reinvesting investment gains is called compound growth.

What is compound growth?

Compound growth is when both the amount invested and the investment gains already accrued increase in value because both amount are reinvested back in the venture. Compound growth ensures a faster growth in investment returns when compared with not reinvesting investment gains.

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Help solve the blanks

Answers

Here is the completed table:

Labor    Total Product   Marginal Product  Average Product

0               0                      N / A                       N / A

1               10                       10                            10

2              25                         15                             12.50

3              45                        20                              15

4              63                         18                              15.75

5              75                          12                             15

6             80                            5                              13.3

7              80                          0                               13.3

8              68                         - 12                               8.50

How to determine the total product, marginal product and average product?

The total product is determined by multiplying the average product by the number of labor. Total product of a labor can also be determined by adding the marginal product of that labor with the total product of the preceding total labor.

Blank 1 : 10 x 1 = 10

Blank 5: 25 + 20 = 45

Blank 7: 15.75 x 4 = 63

Blank 9: 63 + 12 = 75

Blank 13: 80 + 0 = 80

Blank 15: 8.50 x 8 = 68

Marginal product is the change in total product when labor is increased by 1.

Blank 2 : 10 - 0 = 10

Blank 3 : 25 - 10 = 15

Blank 8: 63 - 45 = 18

Blank 11: 80 - 75 = 5

Blank 16: 68 - 80 = - 12

Average product is the total labor divided by the total labor.

Blank 4: 25 / 2 = 12.50

Blank 6: 45 / 3 = 15

Blank 10: 75 / 5 = 12

Blank 12: 80 / 6 = 13.33

Blank 14 : 68 / 8 = 8.50

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Biltmore Corporation uses the weighted-average process costing method. During
the month of April the direct material equivalent unit cost was $11 and the
conversion cost equivalent unit was $5. Biltmore completed and transferred
$200,000 of production to the finished goods inventory for the month of April. Use
this information to determine the number of units that were transferred from the
Work in Process. Round answer to closest dollar (do not enter cents).

Answers

The number of units that were transferred from the Work in Process is 12,500

What is the quantity of finished output transferred from work in process to finished goods?

In the first place, each unit of completed output would require direct material which costs $11, and conversion cost(the cost of labor for converting the direct material to finished product).

In essence, each complete unit is worth $11 plus $5 i.e. $16

The total cost of completed and transferred output is the total cost per unit, $16, multiplied by the number of units completed and transferred

cost of completed and transferred output=total cost per unit*units transferred

cost of completed and transferred output=$200,000

total cost per unit=$16

units transferred=unknown(assume it is X)

$200,000=$16*X

X=$200,000/$16

X=12,500(units)

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Jim works as a professional wrestler under the character name, "Headhunter Jim the Death Dealer". Jim can register his character's name as
A. a certification mark
B. a service mark
C. a trade name
D. a character mark

Answers

Answer:

A IS THE CORRECT ANSWER. .

The correct option is A. a certification mark.

What is a certification mark?

A "certification mark" refer to any word, name, symbol, device or their combination that is used by a person other than its owner.

It is a special mark that is created for a purpose uniquely different from that of an ordinary service mark or trademark.

Here, Jim can register his character's name as a certification mark to get the unique identity.

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Disadvantages of the matrix organization structure are efficient use of resources because of ease of access efficient communication easy to manage difficult to manage Disadvantages of the matrix organization structure are efficient use of resources because of ease of access efficient communication easy to manage difficult to manage​

Answers

Difficulty in terms of management of an organization as there is the involvement of overlapping teams, more information, and multiple managers is one of the major disadvantages of matrix organization structure.

What is matrix organization structure?

A combination of or greater varieties of organizational structures is referred to as a matrix structure. It is a manner of arranging your enterprise so you set up reporting relationships as a grid, or a matrix, in preference to in the conventional hierarchy.

hence, Difficulty in terms of management of an organization as there is the involvement of overlapping teams, more information, and multiple managers is one of the major disadvantages of matrix organization structure.

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What is small business development

Answers

Answer:

Explanation:

Small Business Development Centers (SBDCs) provide business-related assistance and knowledge to help entrepreneurs start, run, and grow their businesses.

tying financial models to strategies of a business helps generate more insightful analyses

Answers

Tying financial models to strategies of a business helps generate more insightful analyses. Therefore, it's true.

What is a financial model?

It should be noted that financial modelling is the representation of a company's operations to achieve a desired goal.

In this case, tying financial models to strategies of a business helps generate more insightful analyses. Therefore, it's true.

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What enables a oligopoly to form within a market

Answers

It would be too costly to launch a competing business To establish Oligopoly in the market.

What is a market?

The entire number of buyers and sellers in the area or region under consideration is referred to as the market.

A market structure known as an oligopoly has a small number of enterprises, none of which can prevent the others from having a large impact.

The market share of the major companies is calculated using the concentration ratio.

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If you we’re running a company describe at least two things you would do to improve its productivity

Answers

Answer:

1. Have standing meeting.2.Create the ultimate break room.

A written communication between two departments of a company would be made by ??

Answers

A written communication between two (2) departments of a company would be made by memo.

What is a memo?

A memo is abbreviation for memorandum and it can be defined as a written communication which is typically used to communicate an information of immediate importance to people within a business or between two (2) departments of a company.

This ultimately implies that, a written communication between two (2) departments of a company would be made by memo.

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How does multi party system works

Answers

Answer:

In multi-party systems that use proportional representation, each party wins a number of legislative seats proportional to the number of votes it receives. Under first-past-the-post, the electorate is divided into a number of districts, each of which selects one person to fill one seat by a plurality of the vote.

Answer:

Multi-Party System is formed  If several parties compete for power and more than two parties have a reasonable chance of coming to power either on their own strength or in alliance with others.

This system is able to represent diverse contestants  and regions.

What is the biggest memecoin of 2022 ?

Answers

Answer:

Dogecoin (DOGE), Floki Inu (FLOKI), and RoboApe Token (RBA) are the top three meme coins on the market in 2022.

Explanation:

Hope it helps!

Dogecoin is one of them

Windsor, Inc. uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows: Units Per unit price Total Balance, 1/1/2022 260 $4.00 $1040 Purchase, 1/15/2022 130 ..4.60 598 Purchase, 1/28/2022 130 ..4.70 611 An end of the month (1/31/2022) inventory showed that 210 units were on hand. If the company uses FIFO and sells the units for $9 each, what is the gross profit for the month? $1890 $1270 $1520 $2790

Answers

Windsor's gross profit for the month is:C. $1520.

Gross profit

First step

January purchase:

Purchase= 130 - (210 - 130)

Purchase=130-80

Purchase= 50 units

Sales revenue= (260 + 50) x 9

Sales revenue=310×9

Sales revenue= $2,790

Second step

Cost= (260 x 4) + (50 x 4.60)

Cost=1,040+230

Cost= $1,270

Third step

Gross profit:

Gross profit= 2,790 - 1,270

Gross profit= $1,520

Therefore the correct option is C.

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Select all that apply.
Select each of the benefits of being financially responsible.
having more opportunities
earning more money
paying higher interest rates for loans
having a good credit score
being rejected for loans
being prepared for emergencies
paying lower interest rates on credit cards
gaining independence

Answers

Answer:

having more opportunities

earning more money

having a good credit score

being prepared for emergencies

paying lower interest rates on credit cards

gaining independence

Explanation:

In which (management) areas of an organization may ethically relevant questions occur? Give examples for each of them!

Answers

The management area of coordinating and directing from the top hierarchies is the where some ethically relevant questions may occur.

What is an Ethics?

This refers to some standards that imposes a reasonable obligations to refrain from fraud, slander, gossip etc in a firm.

Some example of an ethical behaviors in the firm are:

obeying company's ruleseffective communicationaccountability & professionalismtrust and mutual respect

Hence, the management area of coordinating and directing from the top hierarchies is the where some ethically relevant questions may occur.

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Q5) which one company is the best one you wish to invest for next 3 decades, based on its management, product or business model, financial condition(with low debt), consistent past and potential earning?

Answers

Tesla  is the company is the best one people wish to invest for next 3 decades, based on its management, product or business model, financial condition, consistent past and potential earning.

What is the management structure of Tesla?

According to management experts, Tesla is one company that has a practical organizational structure with a lot of hierarchical structure.

Tesla is a company that is reported to use functional centers that are well-structured and cover all aspect of their business operations, including finance, sales, marketing, and technology.

Thus, the company is Tesla.

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Identify the "3" laws, rules, and regulations in law of business

Answers

The antitrust law is the set of federal and state laws whose purpose is to regulate the conduct of companies in order to establish rules for legal business practice and regulation on securities.

What is business law?

It corresponds to the set of laws, rules and regulations that apply to the corporate environment, establishing the responsibility of companies and their workers, their rights and duties in order to build an ethical and positive  market for business development.

Therefore, business law is essential for the maintenance of legality and ethics in a competitive business environment, instituting protection in several important areas, such as socio-environmental responsibility and workers' rights.

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Why you should be flexible when using a different email system?

Answers

The person should be flexible in using the email system in order to increase the productivity, to improve security and to enhance competitiveness.

What is Email System?

The full form of Email is electronic mail which refers to the sending the messages through the use of computer and receiving it. It is an application of the messaging system.

Through the flexibility in the application of the email system the users can enhance the competition by using the new technology. It also increases the productivity as the knowledge of the different email system provides various features to the users.

It also helps in securing the data and important information from the  phishing attack.

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After a different vice president is assigned to head the division for the second time in five years, Maria’s job as a middle manager does not really change. She carries out the same tasks, attends the same meetings, and sends in the same reports to the new vice president as she always does. What can be accurately determined about this organization?

Answers

The thing that can be accurately told about the organization is that  high authority is not much responsible, and they do not consider the eligible candidate for promotion in the company.

What is promotion?

Promotion is the upgrade of the post from the low profile than before the person get the promotion is upgraded into a new profile that they are eligible for. Promotion also gives the encouragement and motivation to the people.

Thus, organization is that  high authority is not much responsible.

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How can business apply force field technique in the workplace

Answers

Companies can apply the force field technique in the workplace by establishing a method of observing the factors that drive or block the achievement of goals.

How is the force field technique effective in the workplace?

It helps in the identification and more comprehensive analysis of the organizational environment and its processes, helping in decision making and in the strategic formulation to reduce bottlenecks and obtain quality.

Therefore, the force field technique helps in the effectiveness of processes, develops communication, reduces resistance to change in addition to creating a positive culture for development.

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Identify which of the following are primary activities and which are support activities in a value chain.

Answers

Answer: Marketing and sales and service

Explanation:

Trial Balance Practice
Cole Hernandez, owns a business named Ceco Co. with the following ledger accounts as of June 30, 2020
Instructions:
1. Prepare a trial balance for Ceco Co. as of June 30, 2020.
2. Remember to write in the full three-line heading and put the accounts in the proper order.

Account Balance
A/P - Batt Inc. $785.00
A/P - Parker Products 1000.00
A/P - Nishi Co. 1200.00
A/R - R. Tamo 3500.00
A/R - G. Slaught 1124.00
A/R - P. Onno 850.00
Automobile 22800.00
Bank Loan 25000.00
Cash 5000.00
C. Hernandez, Capital 32224.00
Equipment 25350.00
Supplies 1585.00

Answers

The preparation of the Trial Balance of Ceco Co. from the ledger accounts as of June 20, 2020, is as follows:

Ceco Co.

Trial Balance

At June 30, 2020

Accounts                                      Debit            Credit

Cash                                      $5,000.00

A/R - R. Tamo                          3,500.00

A/R - G. Slaught                        1,124.00

A/R - P. Onno                            850.00

Supplies                                  1,585.00

Automobile                         22,800.00

Equipment                          25,350.00

A/P - Batt Inc.                                                 $785.00

A/P - Parker Products                                   1,000.00

A/P - Nishi Co.                                               1,200.00

Bank Loan                                                  25,000.00

C. Hernandez, Capital                               32,224.00

Totals                              $60,209.00    $60,209.00

What is a trial balance?

A trial balance is a list of the ledger accounts balances at a particular date of the financial period.

The trial balance helps to show if accounts have been correctly recorded according to the double-entry system.

Thus, the above trial balance shows the ledger accounts balances of Ceco Co as of June 30, 2020.

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what is Service Marketing Environment??

Answers

Answer:

The service marketing environment refers to all internal and external factors, which directly or indirectly influence the organization's decisions related to marketing activities. Internal factors are within the control of an organization; whereas, external factors do not fall within its control.

Explanation:

How can information be a powerfull tool in negatiation or breaking a deal

Answers

Negotiators must decide to disclose or retain information as it could lead to a beneficial outcome or reveal one's vulnerabilities . Information exchange is a fundamental part of negotiation and it is a negotiator's strength and weakness.

What is the answer to this question

Answers

According to the context, it can be inferred that the word that correctly completes the sentence is reaction (option C).

How to identify the missing word of the fragment?

To identify the missing word of the fragment we must take into account the context, in this case it speaks of the 2020 pandemic in which many people were affected by not being able to work and required the help of others.

In this case, the retailers had a reactive attitude towards this situation because they decided to donate in response to the problems that the pandemic unleashed with the neediest people.

Note: The question is not readable in the image. Next is the question.

Some retailers have decided during COV.ID to donate a percentage of sales to programs that support those in need, such as food banks. These businesses could be said to have a _______ approach of social responsiveness during this per.iod.

OPTIONS:

ObstructionObligationReactionInvolvement

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How to compute the total economic profit or loss in the given table?​

Answers

Getting the sums of the Total revenues (TR) and subtracting the Total Cost (TC) from it will allow to derive the total economic profit or loss in the given table.

What is an economic profit?

This refers to the difference between the company's total revenue and the sum of its explicit and implicit costs.

In this case, the total economic profit or loss in the given table will be derived by adding the sums of the Total revenues (TR) and subtract the Total Cost (TC) from it.

Therefore, the economic profit or loss will be determined.

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The weight of toys a toddler owns has a population mean of 15.8kg and a population standard deviation of 4.2kg. What is the probability a toy store owner could select a sample of 49 toddlers and find the sample mean to be

Answers

The sample mean is most likely going to be  15.8kg because the population mean,, is proven by statistics to be equal to the mean of the sample distribution of x. This is further explained below.

What is sample mean?

Generally, Since the population mean,, is statistically shown to be equal to the mean of the sample distribution of x, we can confidently predict that the sample mean will be 15.8kg.

In conclusion, The mean of a group of data points. The sample mean is a useful statistic for computing the central tendency, standard deviation, and variance of a data collection.

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In the scor model, purchasing is represented by

Answers

A leverage by is one where there is.

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