Tim's Treads Ended the Month with 1,230 Tires

question 26

Short Answer

Tim's Treads ended the month with 1,230 tires. There were 430 Firestones at a price of $77.80 each and 800 Goodyear at a price of $81.00 each. Compute the amount of inventory at month end.

---

Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, giving the holder a share of the corporation's profits and assets.

Cash Outflow

Money that is spent or paid out by a business or individual, resulting in a decrease in cash balance.

Financing Activities

Refers to transactions and business events affecting long-term liabilities and equity, including obtaining resources from owners and providing them with a return on their investment.

Bonds Payable

Bonds payable refers to the long-term debt instruments issued by a company to borrow funds, which must be repaid at a specified maturity date.