Author Question: A certain cut of beef costs 7.59 per pound, and a similar cut of pork costs 5.19 per pound. What is ... (Read 211 times)

kfurse · **on:** Jun 24, 2018

A certain cut of beef costs 7.59 per pound, and a similar cut of pork costs 5.19 per pound. What is the total cost of 3.25 pounds of the beef and 3.75 pounds of the pork? (Round to the nearest cent.)

Question 2

A hardware merchant using the LIFO method of valuing inventory has 200 hammers remaining in inventory. The merchant purchased hammers over a three-month period as follows: 120 purchased at 3.50 on April 1, 150 purchased at 3.62 on May 1, and 150 purchased at 3.72 on June 1 . Compute the value of the ending inventory of hammers at LIFO cost.

honnalora · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

3.25 pounds 7.59 per pound = 24.67 for the beef
3.75 pounds 5.19 per pound = 19.46 for the pork
24.67 + 19.46 = 44.13 total

Answer to Question 2

709.6