1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
eimsori [14]
2 years ago
8

Poppy co. uses a periodic inventory system. beginning inventory on january 1 was understated by $30,000, and its ending inventor

y on december 31 was understated by $17,000. in addition, a purchase of merchandise costing $20,000 was incorrectly recorded as a $2,000 purchase. none of these errors were discovered until the next year. as a result, poppy's cost of goods sold for this year was:
Business
1 answer:
adell [148]2 years ago
8 0

If  None of these errors were discovered until the next year. As a result, Poppy's cost of goods sold for this year was: Understated by $31,000.

<h3>Cost of goods sold</h3>

Using this formula

Cost of goods sold=Beginning inventory + Incorrect entry for Merchandize Purchase - Ending inventory

Let plug in the formula

Cost of goods sold=$30,000+($20,000-$2,000)-$17,000

Cost of goods sold=$30,000+$18,000-$17,000

Cost of goods sold=$31,000 understated

Therefore Poppy's cost of goods sold for this year was: Understated by $31,000.

Learn more about cost of goods sold here: brainly.com/question/20344298

$SPJ1

You might be interested in
The first step in strategy implementation involves articulating in simple language what a particular business must do to create
jarptica [38.1K]

In the strategy implementation stage, there are certain things done to create and sustain a competitive advantage and this involves the definition of strategic goals.

<h3>What is Competitive Advantage?</h3>

This refers to the business situation whereby a company is able to outperform its competition.

Hence, we can see that when making strategic planning and implementation, there is the planning and making of contingencies for a meeting of set company goals to enhance the competitive advantage.

Read more about competitive advantages here:
brainly.com/question/26514848

5 0
2 years ago
When several hurricanes hit Florida in 2004, a number of local governments imposed price controls that prevented sellers from ra
liberstina [14]

Answer:

a reduced availability of these badly needed products.

Explanation:

Price control is when the government imposed a price regime that is aimed at protecting the consumer from over pricing by sellers. When price ceilings are imposed there is a maximum price the the seller cannot go above in pricing of products.

In this case if ocal governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. It will result in reduced availability of the products to these areas.

Sellers tend to reduce amount supplied, due to scarcity consumers will have to buy at black market prices that are higher.

3 0
3 years ago
Read 2 more answers
If the United States exports $150 billion of goods and services and imports $100 billion of goods and services and there is no o
natta225 [31]

Answer:

$50 billion.

Explanation:

Current Account represents the balance of Trade (Imports & Exports) plus net income and direct payments. Countries strive to maintain their current account surplus which is an indicator that the country is producing and exporting more than its consumption and imports. In this case, it is clearly stated that there are no other factors like income or transfers, so we just have to compare exports and imports. The formula for Current Account in this case is:

                                                Exports - Imports

⇒ 150 - 100 = $50 billion.

3 0
3 years ago
Discuss national income​
Anni [7]

Explanation:

The overall amount of a government's finished product of any and all additional goods produced and services provided with one year is national revenue. The guiding principle for economics and finance is recognizing how national income is produced.

7 0
3 years ago
question 1 you are presenting your theory about the correlation between recent sales increases and a current pop culture trend.
Sveta_85 [38]

The opening or introduction of your presentation is the ideal time to introduce the hypothesis. The tentative solutions are important about the presentation.

<h3 /><h3>What is a hypothesis?</h3>

A hypothesis is a theory that is put up as a potential explanation for a certain circumstance or condition but has not yet been shown to be true. Scientists can design a straightforward laboratory experiment to verify this theory.

In the context of science, a hypothesis is an assertion based on current knowledge that is appropriate for describing a particular phenomenon but whose validity has not been established or has not been independently tested.

Typically, the researcher's hypothesis is referred to as the alternative hypothesis, and any other result is referred to as the null hypothesis, or, more simply put, the opposite result from what was predicted.

Learn more about hypothesis, here

brainly.com/question/29519577

#SPJ1

7 0
1 year ago
Other questions:
  • Toys Unlimited has the following cost data available. Direct Materials are $99 per unit. Direct Labot is $55 per unit. Variable
    15·1 answer
  • You are tasked with generating twice the amount of qualified leads your company generated last quarter. With your company’s bott
    11·1 answer
  • What is not one of the five main catogories of risk faced by individuals?
    11·1 answer
  • What countries are they from? What do you think you could buy with the amounts shown?
    15·1 answer
  • What are some ways that people might describe themselves?
    15·2 answers
  • Margaret sells hand-knit scarves at a flea market. Each scarf sells for $25. Margaret pays $30 to rent a vending space for one d
    14·1 answer
  • In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $23,300 and Job 11 $31,500. On March 31, Job 10 is sold to the c
    7·1 answer
  • DS Unlimited has the following transactions during August.
    14·1 answer
  • If the industry were perfectly competitive the quantity of output produced would be?
    14·1 answer
  • when a company provides superior value by leading its industry in price and convenience, it has obtained .
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!