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
Lilit [14]
3 years ago
14

A company just starting in business purchased three merchandise inventory items at the following prices. March 2, $150; March 7,

$160; and March 15, $180. If the company sold two units for $250 each on March 10 and March 20, and used the FIFO cost formula in a perpetual inventory system, the gross profit for March would be
Business
1 answer:
Kazeer [188]3 years ago
3 0

Answer:

$290

Explanation:

Gross profit is the difference between the sales and cost of items or goods sold. The FIFO cost formula or inventory valuation method is one in which inventory items are sold on the basis of first in first out that is, based on date of purchase.

As such, where 2 items of 3 are sold, the cost of goods sold

= $150 + $160

= $310

Total sales = 2 × $250

= $500

Gross profit = $500 - $310

= $290

You might be interested in
If the market price is $60, a firm's minimum average total cost is $70, and minimum average variable cost is $50, what should th
svet-max [94.6K]

Answer:

it shouldn't violate historic cost principal because it is not going to shut down it's business so therefore it should value the assets on the market price not on the cost of purchase price

Explanation:

above is the explanation,you should think of the answers and so doing your hw from this app.

3 0
2 years ago
An investor purchased 100 shares of the cdl growth and income fund 3 years ago when the pop was $12 and the nav was $11.50. all
Norma-Jean [14]

The investor will show a capital loss of $155.

We gather the following information from this question:

Pop of the fund three years ago : $12

NAV of the fund three years ago : $11.50

Current Pop : $11

Current NAV : $10.45

Number of shares : 100 shares.

We need to calculate capital loss or gain on the 100 shares in the mutual fund.

While taking the cost per unit, <u>we need to consider the public-offer-price (pop) into consideration, since an investor can only buy the shares at pop</u>.

Similarly, while selling the shares, the <u>shareholder can liquidate his position by selling back to the mutual fund at the NAV prevailing at the end of the business day</u> on which he wants to sell.

So, the formula to calculate capital gain or loss is:

Capital gain or (loss) = (NAV per unit at liquidation - POP at purchase ) * No. of shares

Capital gain or (loss) = ($10.45 - $12 ) * 100

Capital gain or (loss) = ($155)

3 0
2 years ago
How would a computer enhance the productivity of a business
Bas_tet [7]
A computer would enhance the productivity of a business because it would produce better communication and would also help things be accomplished faster. hope that helps if not lmk

7 0
3 years ago
Read 2 more answers
At the present time, Water and Power Company (WPC) has 10-year noncallable bonds with a face value of $1,000 that are outstandin
ArbitrLikvidat [17]

Answer:

d. 2.94%

Explanation:

First, Calculate the Yield to maturity of the bond using the following formula

Use the following formula to calculate the YTM

P = [ C x ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Where

F = Face value = $1,000

P = Price = $1,495.56

C = Coupon payment = Face value x Coupon rate = $1,000 x 10% = $100

n = numbers of periods = Numbers of years to maturity = 10 years

r = YTM = ?

Placing values in the formula

$1,495.56 = [ $100 x ( 1 - ( 1 + r )^-10 ) / r ] + [ $1,000 / ( 1 + r )^10 ]

r = 3.916%

Now calculate the after-tax cost of debt

After-tax cost of debt = YTM x ( 1 - Tax rate )

After-tax cost of debt = 3.916% x ( 1 - 25% )

After-tax cost of debt = 2.937%

After-tax cost of debt = 2.94%

4 0
2 years ago
Can i return something to walmart without a receipt?
nevsk [136]

Answer:

Walmart's return policy

Normally, items purchased in our stores or on Walmart.com may be returned or exchanged within ninety (90) days of purchase with or without a receipt.

Explanation:

☺

7 0
1 year ago
Other questions:
  • Coach Bjourn Toulouse led the Big Red Herrings to several disappointing football seasons. Only better recruiting will return the
    14·1 answer
  • Salary expense is​ $1,175 per​ day, Monday through​ Friday, and the business pays employees each Friday. If December 31 falls on
    12·1 answer
  • Which of the following traits indicate that Stephanie is good at time management in her new management role?Stephanie's work spa
    6·1 answer
  • Why is Earned Value a very powerful tool? Answer: It combines the cost, scope, and ____________ as an integrated tool to calcula
    10·1 answer
  • Jumpin Corporation uses the percentminusofminussales method to estimate uncollectibles. Net credit sales for the current year am
    15·1 answer
  • Process capability A. exists only in​ theory; it cannot be measured. B. is assured when the process is statistically in control.
    8·1 answer
  • Today's settlement price on a Chicago Mercantile Exchange (CME) yen futures contract is $0.8011/¥100. Your margin account curren
    14·1 answer
  • Over the first four years of a company's life, it earned the following net income (loss):______.
    11·1 answer
  • YASHARI earns $27,000 per year, is single, and lives in Wyoming. She has $7000 in subsidized loans and another $19,000 in unsubs
    14·1 answer
  • By definition, empirical probability is equal to:
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!