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lina2011 [118]
2 years ago
5

At the beginning of the year, Albertson Incorporated reports inventory of $7,700. During the year, the company purchases additio

nal inventory for $22,700. At the end of the year, the cost of inventory remaining is $9,700. Calculate cost of goods sold for the year.
Business
1 answer:
Citrus2011 [14]2 years ago
5 0

Cost of goods sold = Beginning inventory + Purchases - Ending inventory .

COGS = Cost of goods sold

COGS = 7700 + 22700 - 9700 = 20700

The total sum that your company spent on expenses directly associated with the selling of goods is known as the cost of goods sold.

The cost of products sold may take into account both the labor and materials used to create a product. Your COGS may also include sales expenses, such as commissions, that are unique to that product. Direct costs is the accounting term for this.

A cost that is not entirely committed to a particular item is one that is common to your company, such as rent, the purchase of a new machine, or general marketing expenses. These extra expenses are classified as overhead rather than as the cost of the items supplied.

For business owners and managers, tracking cost of products sold is crucial. That is the lowest price at which you can sell a good and still make a profit. Any surplus margin is used to pay for costs and eventually turn a profit. You cannot determine if you are profitable or not unless you are aware of your COGS and break-even point.

Learn more about cost of goods sold here

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Priscilla is a trader of silver and diamond jewelry. Due to a recessionary trend in the industry, her business has not been maki
saveliy_v [14]

Answer:

The correct answer is: tolerance of uncertainty.

Explanation:

Even if the market for precious metals is facing a decline due to recession, Priscilla mortgaged her house so she can continue investing in her precious metals business. This decision reflects Priscilla's tolerance of uncertainty that comes to the surface when it is not confirm what the course of an event will be because the factors that determine the course are too ambiguous or even unknown. The adverse situation does not discourage Priscilla and she is being tolerant enough to decide to keep her business up and running.

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3 years ago
Due to the potential impact of changes that can affect all users in an organization, and considering that security vulnerabiliti
soldi70 [24.7K]

Answer:

The organization should do the following in order to oversee changes:

  • Change the Management Team.

Explanation:

  • As the organization is under the potential impact of changes that can effect all user in an organization. As well as, securities vulnerabilities can arise from the uncoordinated changes. So, in order to overcome all of these issues, the organization has the best option to change the management team.
  • The management team is responsible for creating the coordination in a company as well as completing the goals.
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8 0
3 years ago
Suppose that the typical consumer basket consisted of 3 units of pork and 4 units of corn. In 2015, price of pork was $20 and pr
SVEN [57.7K]

Answer:

136.11

Explanation:

Consumer price index = price of basket current year/ price of basket base year x 100

For 2015( 3units pork x $20 + 4 units corn x $12) = $108

For 2016( 3units pork x $25 + 4 units corn x $18) = $147

CPI = $147/$108 x 100

= 136.11

8 0
3 years ago
Read 2 more answers
Ring Me Up Inc. has net income of $143,100 for the year ended December 31, 2019. At the beginning of the year, 36,000 shares of
Vera_Pavlovna [14]

Answer:

$2.13

Explanation:

Computation what the basic earnings per share of common stock for the year ended December 31, 2019 be

Using this formula

Basic earnings per share = Net income - preferred dividends / Weighted average no of shares outstanding

Let plug in the formula

Basic earnings per share = $143,100 - (9,000*4.65%*100) / (36,000*12/12)+(18,000*8/12) - (4,300*1/12)

Basic earnings per share = $143,100 - 41,850 / 36,000+12,000 - 358

Basic earnings per share = 101,250 / 47,642

Basic earnings per share =$2.13

Therefore the basic earnings per share of common stock for the year ended December 31, 2019 be $2.13

3 0
3 years ago
________involves employees and organizational representatives meeting with a neutral third party who tries to help the two sides
Readme [11.4K]

Answer:

Mediation.

Explanation:

This is explained to be a process that has been well structured which is seen to be plain and also interactive, having compulsorily a third party who is impartial in conflict resolution that is seen to be between an employee and a said organisation. Certain mediation cases may be seen to be informal meeting among the parties or a scheduled settlement conference. This dispute in some cases when it is a little blown out of proportion by the mediator, may either be pending in a court or potentially a dispute which may be filed in court. Cases suitable for mediation are disputes in commercial transactions, workers compensation, labor or community relations, domestic relations, employment or any other matters which do not involve complex procedural or evidentiary issues.

3 0
3 years ago
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