During 2021, 34,000 units were purchased for $20 per unit. due to unexpected demand for the company's product, 2021 sales totaled 42,000 units at various prices, leaving 21,000 units in ending inventory. required: 1. calculate the amount to report for cost of goods sold for 2021. 2. determine the amount of lifo liquidation profit that the company must report in a disclosure note to its 2021 financial statements. assume an income tax rate of 25%. 3. if the company decided to purchase an additional 8,000 units at $20 per unit at the end of the year, how much income tax currently payable would be saved?
Answers: 1
Another question on Business
Business, 21.06.2019 21:40
Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .
Answers: 1
Business, 22.06.2019 01:20
Cindy recently played in a softball game in which she misplayed a ground ball for an error. later, in the same game, she made a great catch on a very difficult play. according to the self-serving bias, she would attribute her error to and her good catch to her
Answers: 1
Business, 22.06.2019 10:20
The different concepts in the architecture operating model are aligned with how the business chooses to integrate and standardize with an enterprise solution. in the the technology solution shares data across the enterprise.
Answers: 3
You know the right answer?
During 2021, 34,000 units were purchased for $20 per unit. due to unexpected demand for the company'...
Questions
Computers and Technology, 07.11.2020 02:10
History, 07.11.2020 02:10
Mathematics, 07.11.2020 02:10
English, 07.11.2020 02:10
Mathematics, 07.11.2020 02:10
Mathematics, 07.11.2020 02:10
Mathematics, 07.11.2020 02:10
Mathematics, 07.11.2020 02:10
History, 07.11.2020 02:10
Mathematics, 07.11.2020 02:10
Mathematics, 07.11.2020 02:10
