Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. follman fabricators, inc. has 10 units in beginnin

Follman Fabricators, Inc. has 10 units in beginning inventory costing $30 each. It purchased 90...

70.2K

Verified Solution

Question

Accounting

Follman Fabricators, Inc. has 10 units in beginning inventory costing $30 each. It purchased 90 more for $24 each during the month. The company sold 80 units during the month.

Using FIFO, Cost of goods sold = $1,980 Ending inventory = $480

True or False

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Two towns had a population of 12,000 in 1990. By 2000, the population of town A...

Basic Math
Q

What is the real difference between between correlation and regression analysis? I see that correlation allows...

Statistics
Q

Having identified each of these cDNAs, you want to determine the intracellular route traveled by each...

Biology
Q

Programing lanugaue is C++ Purpose of code: Plan and code a menu-driven modular program utilizing an array An...

Programming
Q

8. The chapter text describes various materials that have been used to produce casting patterns (i.e.,...

Mechanical Engineering
Q

Which of the following statements are true of pyrogens?All of the aboveCan originate from within...

Biology
Q

llic bob of mass m and charge Q is in equilibrium in the presence of...

Physics
Q

Find equations of the tangent plane and the normal line to the given surface at...

Calculus
Q

Therefore k 30 In 2 30 Step 4 Now remembering that In x n In...

Calculus
Q

the client has restated the prior statement because of a change form LIFO to FIFO....

Accounting
Q

Pharoah company has four operating divisions. during the first quarter of 2022, the company reported...

Accounting
Q

A loan of $16000 with interest at 4% compounded is repaid in 9years by equal...

Finance