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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 not an important question for economic policy raised by the experience of the textile industry? A. How
sweet [91]

Answer:

C) Which argument for restricting free trade is politically feasible?

Explanation:

Foreign trade and globalization are here and there is nothing any country can do to stop it. As a country, you either engage in foreign trade or face with the possibility of becoming the next North Korea.

We can argue the benefits of foreign trade or how can we increase them, but the fact that foreign trade exists and cannot be stopped is something that not even President Trump could avoid.  

7 0
3 years ago
Data concerning Pony Corporation's single product appear below: Per Unit Percent of Sales Selling price $ 200 100 % Variable exp
Luda [366]

Answer:

$18,000

Explanation:

The computation of overall effect on the company's monthly net operating income is shown below:-

                                 Current                 Proposed

Sales                       $800,000               $837,000

                        (200 × 4000)     (200 - 14) × (4,000 + 500)

Variable expenses  $160,000             $180,000

                              (40 × 4000)  (40 × (4,000 + 500))

Contribution margin $640,000            $657,000

Fixed expenses     $531000                 $566,000

                                                  ($531,000 + $35,000)

Net operating

income                  $109,000                $91,000

Decrease in net operating income = Current - Proposed

= $109,000 - $91,000

= $18,000

So, for computing the overall effect on the company's monthly net operating income we simply applied the above formula.

8 0
2 years ago
Which of the following helps determine something's value?
Svetlanka [38]

Answer:

D. Both A and C

Explanation:

Items that are more useful and/or more rare, result in higher prices (and if both are true, even higher prices). If an item is rare but useless, the price would be lower. If an item is useful and not rare (think batteries or paper towels) the price lowers.

8 0
3 years ago
A project requires an initial investment of $60,000 and has a project profitability index of 0.329. The present value of the fut
OleMash [197]

Answer:

The present value of the future cash inflows from this investment is $19,740

Explanation:

Profitability Index is a useful tool for ranking project because we can know the amount/ value created by per unit of investment.

Profitability Index = Present value of future cash flow/ Initial Investment

↔ 0.329 = Present value of future cash inflow/ $60,000

↔ Present value of future cash inflow = 0.329 * $60,000 =$19,740

8 0
3 years ago
What is the purpose of a design brief?
Sedbober [7]
A project management document that allows you to identify the scope, scale, and core details of your upcoming design project.
7 0
3 years ago
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