A surfer is riding a wave with an amplitude of 20 feet and a period of 40 feet. If the wave
completes a period in 10 seconds, what is the speed of the surfer? Select one: a. 400 feet per
second b. 40 feet per second c. 4 feet per second d. 1414 feet per second
Solution
Amplitude = 20 feet
Period = 40 feet
The wave completes a period in 10 seconds.
Speed of the surfer =Distance/Time =Period length /Time
= 40 /10 = 4 feet per second
Option C.
alue 0.83 points M7-6 Calculating Cost of Goods Available for Sale, E.pdf
1. alue 0.83 points M7-6 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales,
Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost
[LO 7-3 The following are the transactions for the month of July July 1 Beginning Inventory 49
July 25 Sold July 31 Ending Inventory194 Units Unit Cost Selling Price 245 11 100) S10 $14
Solution
Answers
FIFO (Periodic)
Units
Cost per unit
Total
Beginning Inventory
49
$ 10.00
$ 490.00
Purchases:
Jul-13
245
$ 11.00
$ 2,695.00
Goods Available for Sale
$ 3,185.00
Cost of Goods Sold:
Beginning Inventory
49
$ 10.00
$ 490.00
Jul-13
51
$ 11.00
$ 561.00
Total Cost of Goods Sold
$ 1,051.00
Ending Inventory
$ 2,134.00
2. Sales
$ 1,400.00
Cost of Goods Sold
$ 1,051.00
Gross Profit
$ 349.00
LIFO (Periodic)
Units
Cost per unit
Total
Beginning Inventory
49
$ 10.00
$ 490.00
Purchases:
Jul-13
245
$ 11.00
$ 2,695.00
Goods Available for Sale
$ 3,185.00
Cost of Goods Sold:
Jul-13
100
$ 11.00
$ 1,100.00
$ -
Total Cost of Goods Sold
$ 1,100.00
Ending Inventory
$ 2,085.00
Sales
$ 1,400.00
Cost of Goods Sold
$ 1,100.00
3. Gross Profit
$ 300.00
Weighted Average cost per unit:
Goods Available for sale = $ 3,185
Beginning + Purchased units = 49+ 245 = 294 units
Weighted Average cost per unit = 3185 / 294 = $ 10.83 per unit
Weighted Average (Periodic)
Units
Cost per unit
Total
Beginning Inventory
49
$ 10.00
$ 490.00
Purchases
245
$ 11.00
$ 2,695.00
Goods Available for Sale
$ 3,185.00
Cost of Goods Sold:
100
$ 10.83
$ 1,083.00
Ending Inventory
$ 2,102.00
Sales
$ 1,400.00
Cost of Goods Sold
$ 1,083.00
Gross Profit
$ 317.00
FIFO (Periodic)
Units
4. Cost per unit
Total
Beginning Inventory
49
$ 10.00
$ 490.00
Purchases:
Jul-13
245
$ 11.00
$ 2,695.00
Goods Available for Sale
$ 3,185.00
Cost of Goods Sold:
Beginning Inventory
49
$ 10.00
$ 490.00
Jul-13
51
$ 11.00
$ 561.00
Total Cost of Goods Sold
$ 1,051.00
Ending Inventory
$ 2,134.00
Sales
$ 1,400.00
Cost of Goods Sold
$ 1,051.00
Gross Profit
$ 349.00