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miv72 [106K]
3 years ago
12

Calculation of Cost of Goods Sold: Periodic Inventory System with Sales Returns and Allowances

Business
1 answer:
andrey2020 [161]3 years ago
7 0

Answer:

 73,450  COGS

Explanation:

From the beginning inventory we add up purchase and freight cost and subtract the return made to the suplier and discount and allowance granted.

This will be the total cost available for sale.

Then we subtract the ending inventory to get the COGS

  27,000 beginning inventory

+ 78,000 purchases

+      350 freight-in

-   3,900 return and allowance

<u>-   6,000 </u>discount  

 95,450   good available for sale

<u>- 22,000 </u>ending inventory

 73,450  COGS

The sales return impact the sales revenue not the COGS

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Suppose an American buys stock issued by an Argentinian corporation. The Argentinian firm uses the proceeds from the sale to bui
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Suppose an American buys stock issued by an Argentinian corporation. The Argentinian firm uses the proceeds from the sale to build a new office complex. This is an example of foreign <u>portfolio</u> investment in Argentina.

The following are the policies that are consistent with the goal of increasing productivity and growth in developing countries:

b. Providing tax breaks and patents for firms that pursue research and development in health and sciences.

c. Protecting property rights and enforce contracts.

<u>Explanation</u>:

A foreign portfolio investment is the investment made by a foreigner in the form of purchase in country’s stock and bond markets or deposit of money in bank.

Foreign portfolio investment is important because it gives high risk-adjustment return to the investors. The investors get the opportunity to engage in international diversification of portfolio assets.

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2 years ago
One year ago, the Jenkins Family Fun Center deposited $4,500 into an investment account for the purpose of buying new equipment
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Answer:

Total= $25,891

Explanation:

Giving the following information:

One year ago, the Jenkins Family Fun Center deposited $4,500 into an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,300 to this account. They plan on making a final deposit of $8,500 to the account next year.

We need to use the following formula:

FV= PV/(1+i)^n

FV= 4,500*(1.08)^5=6,612

FV= 6,300*(1.08)^4= 8,571

FV= 8,500*(1.08)^3= 10,708

Total= $25,891

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In a planning context, A. open facts are preferred to closed facts. B. None of the choices are correct. C. new facts are preferr
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Answer:

The correct answer is letter "A": open facts are preferred to closed facts.

Explanation:

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<em>Open facts, then, are more preferred than closed facts.</em>

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Answer:

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The windsong automobile manufacturing company produces luxury automobiles made to order. the ownership of the firm recognizes th
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