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
mel-nik [20]
1 year ago
6

What is the average inventory of a business that turns over inventory 10.0 times a year and has a cost of goods sold of $300,000

?
a. $30,000
b. $ 3,000
c. $ 3,000,000
d. $300,010
Business
1 answer:
Nataly [62]1 year ago
5 0

What is the average inventory of a business that turns over inventory 10.0 times a year and has a cost of goods sold of $300,000?

a. $30,000

b. $ 3,000

c. $ 3,000,000

d. $300,010

Inventory is a collection of finished goods or items for manufacture held by a company for business purposes. The company could sell the inventory for profit. That means the products are finished and ready for selling as they are. Alternatively, the company could supply the goods to partner companies for further manufacturing. The products are then transformed or combined to become a different product. It depends on where the company is in the supply chain. Inventory is classed as a company asset. You note it as such on your balance sheet. The costs associated with buying, storing and selling inventory are tax-deductible expenses. The gross profit from the sale of inventory must be declared on your tax return as income. Making note of the expenses you incur from the inventory can lower your income tax amount.

Learn more about inventory here

brainly.com/question/14184995

#SPJ4

You might be interested in
Bill has always taken his dry cleaning to Tom's Dry Cleaning, Inc. One morning while Bill is in a hurry, he walks in the door of
blondinia [14]

Answer: C. an implied contract.

Explanation:

An Implied Contract is one that arises as a result of the way one or both of the parties involved in the contract acts towards the other.

Unlike an Express Contract, it need not be written down but it does have the same legal weight and strength of a written contract.

The basic principle of this contract is that people should always be treated fairly in business transactions so the need to always pen it down is not necessary.

By walking in and leaving his clothes at the laundry, Bill got into an Implied Contract as it would be unfair for Tom to just clean his clothes with no payment.

3 0
2 years ago
What do you know about the economic system?
stiv31 [10]
<span>An economic system is a system of production, resource allocation, and distribution of goods and services within a society or a given geographic area.</span>
6 0
3 years ago
Who likes anime?!!!!!!!
SIZIF [17.4K]

Answer: my friend

Explanation:

8 0
3 years ago
Read 2 more answers
Why have many consumers changed their views about the value of online content so they are now willing to pay small fees?
satela [25.4K]

Answer:

The reason many consumers have changed their views about the value of online content so that they are now willing to pay small fees for it is that:

The costs and quality of online products and services compare with those in stores.  Since online transactions are relatively more secure than physical transactions, people are generally more willing to pay for the secured transactions offered online.

Explanation:

In the modern computer age, many products and services are now being offered online.  This makes the physical stores of yesteryears unnecessary.  People are even ready to pay some small fee to receive these goods and services through online transactions instead of visiting physical stores to pick their desired products and services.  This has reinforced online marketing and delivery of products and services.  Many companies are now jettisoning their physical stores to trade online.  And customers are finding the experience uplifting, secure, and satisfactory.  One can transfer money to distant suppliers of goods and services without leaving their offices and homes.  Overcrowding in banking halls and paper expenses are being avoided.  Banks are also reducing their physical infrastructure and personnel.  These are among the benefits of online content-based transactions.

8 0
2 years ago
Electronic filing (e-filing): a. Reduces the chances that the IRS will make mistakes when inputting tax return information. b. R
TiliK225 [7]

Answer:

a. Reduces the chances that the IRS will make mistakes when inputting tax return information.

Explanation:

Electronic filing simply has to do with the storage of business data on a computer system. It is way safer than filing on paper because these files can be stored and they have backup systems for them too. These systems gives a way of managing such files by organizing, updating, storing and retrieving the files whenever it is necessary.

Option a is the best answer for This question as it points out one of the many advantages of such a system.

3 0
3 years ago
Other questions:
  • Kate is analyzing a proposed project to determine how changes in the sales quantity would affect the project's net present value
    14·1 answer
  • Jimmy's supervisor noticed that he was falling short on the number of setups he was required to complete for the production depa
    9·1 answer
  • At the children's hospital in seattle there are, on average, 50 births per week. mother and child stay, on average, one day befo
    5·1 answer
  • Chen is preparing to write a feasibility report. His supervisor suggests he see if his software includes a template for this kin
    13·2 answers
  • The Fabricating Department started the current month with a beginning Work in Process inventory of $10,500. During the month, it
    9·1 answer
  • Dawson Electronic Services had revenues of $116,000 and expenses of $68,000 for the year. Its assets at the beginning of the yea
    12·1 answer
  • Sylvia is a budget analyst for the state of Kentucky. her job is to look over the state government's spending and suggest and su
    13·1 answer
  • True or false: japan generally runs a significant trade surplus because of the structural barriers against imports into japan
    10·1 answer
  • leadership has many facets, but the central feature of leadership is the ability to command and control others.
    13·1 answer
  • question content area sarbanes-oxley applies to a.publicly held companies b.not-for-profit organizations c.privately held busine
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!