Answer:
$232,825
Explanation:
Step 1: Calculation of cost of goods sold (COGS) under First In First Out (FIFO)
Since we know that;
Ending inventory = Beginning inventory + Purchase - COGS of FIFO
Therefore, we can rearrange to make COGS the subject of the formula and substitute the values as follows:
COGS under FIFO = Beginning inventory + Purchase - Ending inventory
= $110,000 + $237,500 - $114,000 =
COGS under FIFO = $233,500
Step 2: Calculation of COGS under Last In First Out (LIFO)
COGS under LIFO = COGS under FIFO - Rise in LIFO reserve
= $233,500 - $675
COGS under LIFO = $232,825
Therefore, the value of COGS LIFO for Brady Inc. in 2018 is $232,825.
Answer:
In this case, Firm 1 will charge <u>$5</u>, and firm 2 will charge <u>$5</u>
Explanation:
In a competitive market, where two companies have identical products, The companies try to capture the market by lowering the price of the product to attract the consumers in the market.
Firm 1 and Firm 2 are competitors with identical products and they will try to overcome their competitor. As the production of the product has a marginal cost of $5 and no fixed cost.
hence the price should be more than or equal to the marginal cost of the product to avoid losses.
As per pricing strategy simultaneously, the price should be as follow
Firm 1 Price = $5
Firm 2 Price = $5
Answer:
year beginning interest payment total ending
balance payment payment balance
<em>1 150000 0 50000 50000 150000</em>
<em>2 100000 10500 50000 60500 100000</em>
3 50000 7000 50000 57000 50000
4. 0 3500 50000 53500 0
b. The balance of the lease liability reported would be $ 150000
Interest payable would be $150000*0.07 = 10500
Explanation:
the opening balance is without the $50000 paid at the beginning of every year.
interest for the previous year is paid on the beginning of the current along with the payment for the year at the beginning.
The criteria would a private, nonprofit university follow in determining whether to recognize donated services revenue both a and b.
What is revenue?
Revenue is the cash that a firm generates via its operations. Depending on the accounting technique used, there are several ways to compute revenue. Sales made on credit will be included as revenue for products or services provided to the client under accrual accounting. Revenue may be recognized in accordance with certain standards even though payment has not yet been made.
The cash flow statement must be examined in order to determine how well a business collects debts. Contrarily, cash accounting only counts sales as income when money has been exchanged. A "receipt" is a payment made to a business; receipts can exist without income.
To learn more about revenue
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Answer:
d. A perpetuity is a stream of regularly timed, equal cash flows that continues forever.
Explanation:
A perpetuity refers to a future stream of cash flows, paying a constant amount regularly till forever. Such stream is never ending.
The present value of a perpetuity is computed by dividing the constant amount receivable till forever, by required rate of return/cost of capital.
Present value of a growing perpetuity is given by
=
wherein cash flows represent cash flows receivable growing at g% rate till forever
r = required rate of return or cost of capital
g= growth rate of cash flows
Where the cash flows are of constant amount i.e non growing nature, the present value of such a perpetuity is given by,
=