Answer:
$24,779
Explanation:
In order to calculating the ending inventory using the conventional retail inventory method. we required to do the following computations which are shown below:
Using cost method
Goods available for sale:
= Beginning inventory + Purchases
= $11,700 + $130,016
= $141,716
Using retail method
Ending inventory
= Beginning inventory + Purchases + Net markups - Net markdowns - sales revenue
= $19,700 + $169,800 + $101,00 - $6,800 - $157,900
= $34,900
Now
Cost to retail ratio = $141,716 ÷ ($19,700 + $169,800 + $101,00)
= $141,716 ÷ $199,600
= 0.71
So,
Estimated ending inventory at cost:
= Estimated ending inventory at retail × Cost to retail ratio
= $34,900 × 0.71
= $24,779
Answer:
A. Rely on primary sources of information and avoid secondary sources.
Explanation:
Decision means establishing a goal. A goal is a set of objective which a firm seek to achieve.
Primary sources of information are information obtained directly about people or an event. They include statistical data, accounts of eye witness, report of newspaper, speeches etc. In primary source of information, information are gotten from people who have direct contact with it.
Secondary source of information are information gotten either through interpretation or quotes . Examples include books on a topic, articles.
It is important that effective decision maker rely on primary source of information because he or she has a first hand experience or account of information on which decision will be made rather that secondary sources which rely on quotes and may sometimes be exaggerated.
Answer:
Total future value= $408,334.38
Explanation:
Giving the following information:
A couple thinking about retirement decide to put aside $3,000 each year in a savings plan that earns 8% interest. In 5 years they will receive a gift of $10,000 that also can be invested.
F<u>irst, we will determine the future value of the annual deposit investment. We need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {3,000*[(1.08^30) - 1]} / 0.08
FV= $339,849.63
<u>Now, for the $10,000:</u>
<u></u>
FV= PV*(1+i)^n
FV= 10,000*(1.08^25)
FV= $68,484.75
Total future value= 339,849.63 + 68,484.75
Total future value= $408,334.38
It was because of the Great Recession. This financial crisis caused several governmental policies regarding federal funds to be restructured (although changes in the policies were already in discussion even before the disaster). Since then, the federal funds rate has always been near to zero and basically negligible. Hence the Great Recession of 2008 was the reason behind the last federal funds transaction being in 2008.
Answer:
The correct answer is the third statement which says to maximize profits, the firm should produce less than 500 units.
Explanation:
The quantity of output produced is 500 units.
The marginal cost of producing 500 units is $1.50.
The minimum average variable cost is $1.
The price of the product is $1.25.
The firm will be at equilibrium when the price is equal to marginal cost. To maximize profits firm should decrease output to the extent that marginal cost comes to $1.25. At that point, the firm will earn profits as average variable cost is lower than the price.