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3 years ago

For the current year, Hodges Department Store reported the following data:

Business

1 answer:

Ostrovityanka [42]3 years ago

5 0

Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.

Using this formula

Cost of goods sold=Goods available for sale-Inventory balance

Where:

Goods available for sale=$1,074,450

Inventory balance=$85,430

Let plug in the formula

Cost of good sold=$1,074,450-$85,430

Cost of good sold=$989,020

Inconclusion Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.

Learn more about Cost of good sold here:brainly.com/question/24561653

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Shawna wins the lottery and her income increases by 60 percent. she used to buy 10 pints of cottage cheese per month and now she

Dmitriy789 [7]

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The income elasticity of demand is given by :

$\mathbf{YED = \frac{percentage change in demand}{percentage change in income}}$

The percentage change in income is given as 60%. We calculate the percentage change in quantity demanded as follows:

$\mathbf{percentage change in quantity demanded = \frac{Q_{1}-Q_{0}}{Q_{0}}}$

$\mathbf{percentage change in quantity demanded = \frac{12-10}{10}}$

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Substituting the value above in the income elasticity demand formula we get,

$\mathbf{YED = \frac{0.20}{0.60}}$

YED = 0.33333

Since the income elasticity is positive, and since Shawna buys more cottage cheese after an increase in income, we can classify this good as a normal good.

Since the income elasticity is between 0 and 1 we can also conclude that cottage cheese is also a essential good or a necessity.

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3 years ago

in the U.S. cash takes which forms? bills and coins /bonds and treasuries /dollars and Euros/reserves and treasuries

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3 years ago

Chou Co. has a net income of $43,000, assets at the beginning of the year are $250,000 and assets at the end of the year are $30

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Answer:

15.64%

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