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vredina [299]
3 years ago
5

The following data concerning the retail inventory method are taken from the financial records of Welch Company. Cost Retail Beg

inning inventory $ 196,000 $ 280,000 Purchases 896,000 1,280,000 Freight-in 24,000 — Net markups — 80,000 Net markdowns — 56,000 Sales — 1,344,000 If the ending inventory is to be valued at approximately the lower of cost or market, what is the cost-to-retail ratio?

Business
1 answer:
maksim [4K]3 years ago
5 0

Answer:

$ 168,000

Explanation:

Include both Mark-ups and Mark-Downs and Exclude beginning inventory

When LIFO Inventory Method is used to find out Ending inventory retail Value. Cost to Retail Ratio will be Applied for both Previous year ending Inventory and the Current Year addition To Calculates

the Previous year Ending inventory :

Cost to Retail Ratio : Ending inventory at cost / Ending inventory at Retail

For Current year Addition :

Cost to Retail Ratio : Current Year Addition in Cost /Current Year Addition in Retail

Current year addition in retail includes : Markup ,Markdown purchases

Kindly check the attached images below to see the step by step explanation to the question above.

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Which of the following is an advantage of the corporate form of business when compared to sole proprietorships and partnerships?
Rudiy27

Answer:

D. Limited Partnership

Explanation:

Sole proprietorship is business owned , run & managed by single owner. Partnership is a business owned , run & managed by small group of people - deciding to share its profits .

Entrepreneurs in these have Unlimited Liability on personal assets, in case business assets are insufficient to settle business liabilities .

Corporation is a separate legal entity, distinct from its huge group of owners , guided by a board of directors. In case of any claim / sue case : it is against corporate entity & not the people, so they don't have any unlimited liability risk on personal assets to fulfil company's claims .

5 0
3 years ago
An extended period of little or no growth in gdp, wages, and prices is a period of?
dolphi86 [110]

An extended period of little or no growth in GDP, wages, and prices is a period of stagnation.

When real economic growth is less than 2% annually it is considered stagnation. Stagnation is a prolonged period of little or no growth in an economy. This no growth economic period affects various sectors of the economy such as GDP, wages, prices etc.

Stagnation can occur as a temporary condition, such as a growth recession or temporary economic shock. Stagnation is a situation which occurs within an economy when total output is either flat, declining, or growing slowly.

Hence, stagnation in economy can occur due to a number of causes.

To learn more about stagnation were:

brainly.com/question/4323624

#SPJ4

3 0
2 years ago
The period of time before and after an IPO when communication with the public is limited is known as the ______ period.
zalisa [80]

The period of time before and after an initial public offering (IPO) when communication with the public is limited is called the <u>quiet</u> period.

<h3>What is an IPO?</h3>

An IPO is acronym for initial public offering and it can be defined as a process through which a privately owned company (private corporation) list its shares on a stock exchange, in order to make them available for purchase by the general public.

In an initial public offering (IPO), the period of time before and after when communication with the public is limited is called the <u>quiet</u> period.

Read more on IPO here: brainly.com/question/9162694

7 0
2 years ago
The marginal propensity to consume is the:
erma4kov [3.2K]

Answer: proportion of extra income that is consumed. (D)

Explanation:

The marginal propensity to consume is the proportion of an additional income that an individual consumes.

For example, if a household earns an extra dollar of disposable income, while the marginal propensity to consume is 0.60 this means that at that dollar, the household will spend 60 cents and save 40 cents.

4 0
3 years ago
The following information for Cooper Enterprises is given below:December 31, 2018Assets and obligations Plan assets (at fair val
stira [4]

Answer:

a. $600,000

Explanation:

The computation of the amount reported as a pension liability on the balance sheet is as follows:

= Projected benefit obligation - plant asset at fair value

= $1,200,000 - $600,000

= $600,000

Hence, the amount reported as a pension liability on the balance sheet is $600,000

Therefore the correct option is a.

6 0
3 years ago
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