Answer:
The answer is: Maestro's inventory turnover was 5.75 times
Explanation:
In order to find the inventory turnover we use the following formulas:
- Inventory turnover = COGS / Average inventory
- Average inventory = (beginning inventory + ending inventory) / 2
First we find the average inventory:
- Average inventory = ($35,000 + $45,000) / 2 = $40,000
Now we can calculate the inventory turnover:
- Inventory turnover = $230,000 / $40,000 = 5.75 times
Answer: Option (a) is correct.
Explanation:
Transaction costs are considered as a barrier or obstacle to trade between the nations. High transaction costs are generally occured because of the geographical proximity. Geographical proximity refer as the distance between the two nations. The larger the distance between the two nations, the larger will be the transaction costs. Therefore, higher transaction costs directly affects the trade between the two countries because it will become expensive for the nation.
Hence, this will reduce the number of mutually beneficial exchanges.
Answer:
July 1, 2017
No journal entry required because no money or goods have been exchanged.
September 1, 2017
Dr Cash 2,040
Dr Accounts receivable 400
Cr Sales revenue 1,621.37
Cr Unearned revenue 418.63
sales revenue = [$2,040 / ($2,040 + $630)] x $2,440 = $1,621.37
unearned revenue = $2,040 - $1,621.37 = $418.63
September 1, 2017
Dr Cost of goods sold 1,130
Cr Inventory 1,130
October 15, 2017
Dr Cash 400
Dr Unearned revenue 418.63
Cr Accounts receivable 400
Cr Sales revenue 418.63
Average cost is calculated in the following way
Explanation:
Given that XO Group Inc. conducted a survey of 13,000 brides and grooms married in the United States and found that the average cost of a wedding is $29,858
X is N(29,858, 5600)
Or Z=x-29158/5600 is N*(0,1)
We can use std normal distribution table to get the probabilities
a) The probability that a wedding costs less than $20,000 (to 4 decimals)
P(X<20000)
=0.039174
=0.0392
b) the probability that a wedding costs between $20,000 and $30,000
=0.5101-0.0392
=0.4709
c) For a wedding to be among the 5% most expensive, how much would it have to cost (to the nearest whole number)
=29858+1.645*5600
=38083