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
tino4ka555 [31]
3 years ago
13

Russell Retail Group begins the year with inventory of $45,000 and ends the year with inventory of $35,000. During the year, the

company has four purchases for the following amounts.
Purchase on February 17 $200,000
Purchase on May 6 120,000
Purchase on September 8 150,000
Purchase on December 4 400,000
Calculate cost of goods sold for the year.
Business
1 answer:
trapecia [35]3 years ago
7 0

Answer:

COGS= $880,000

Explanation:

Giving the following information:

Beginning inventory= $45,000

Ending inventory= $35,000

Total Purchase= 870,000

<u>To calculate the cost of goods sold (COGS), we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 45,000 + 870,000 - 35,000

COGS= $880,000

You might be interested in
A process cost system would be used for all of the following products except computer chips. motion pictures. chemicals. soft dr
denpristay [2]

One thing that a process cost system cannot be used for from the given options is Motion pictures.

<h3>What is process costing?</h3>

This is a method of allocating cost that is based on the same item being mass-produced such that there is no discernable difference between the goods that were produced.

Motion pictures cannot be mass produced which is why they cannot use process costing, Every motion picture is unique and so something more specific is needed to apportion their cost.

Find out more on process costing at brainly.com/question/17129908

#SPJ1

5 0
1 year ago
​you consider the situation, roll up your sleeves, and get to work. what should be the first step you take in obtaining the info
Alina [70]
The first step would be: define the problem that needs to be solved.
Before we started colelcting information, we need to distinguish which type of information would be considered as 'relevant' and could aid us in achieving our goals. In climbing the Esports industry, this could involve most efficient way of training, nutrition necessary to icnrease gaming concentration, the strength of competitors, etc.
5 0
3 years ago
Which of these components does a business exclude from its net income under “operating surplus”?
irga5000 [103]

Answer:

Depreciation

non-cash charges

interest on loan

taxes

Explanation:

This is according standard proforma for preparing cash flow statement,interest and taxes are later brought back into the computation for instance interest relates to financing activities while actual tax paid is deducted before arriving at cash generated from operations

3 0
3 years ago
Describe your personal definition of leadership.
Inessa [10]
Leadership is showing the way to people and making people better.
5 0
3 years ago
Which type of private label brand carries no evidence of a retailer s affiliation, is manufactured by a third party, and is sold
Drupady [299]

Answer:

A. A captive brand

Explanation:

-A captive brand is when a brand is produced by another party and owned by the retailer but there is no evidence of this and it is only sold by it.

-A complementary brand is when a brand is marketed together with another one to encourage the purchase of both.

-A cooperative brand is when a brand shares a promotion with another one.

-An exclusive brand is a brand that is produced by the retailer and it is sold using its name.

-A generic brand is when a product doesn't have a brand name and it has a lower price than the ones from well-known brands.

According to this, the answer is that the type of private label brand that carries no evidence of a retailer s affiliation, is manufactured by a third party, and is sold exclusively at the retailer is a captive brand.

8 0
3 years ago
Other questions:
  • Singal Inc. is preparing its cash budget. It expects to have sales of $30,000 in January, $35,000 in February, and $20,000 in Ma
    9·2 answers
  • In the T-bill secondary market the ask yield will normally be less than the bid yield. True or False
    12·1 answer
  • All of the following are benefits of debt financing except: Group of answer choices Interest on debt financing is tax deductible
    6·1 answer
  • "suppose scion is trying to reach the under 25 age group to make them long-term customers. for scion, this group would be its' _
    11·1 answer
  • Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams est
    9·1 answer
  • William won the company contest to devise the most innovative ways to market the company's products. William suggested 40 differ
    11·1 answer
  • Which of the following describes the stage in the economic cycle that follows growth?
    5·1 answer
  • During March, the production department of a process operations system completed and transferred to finished goods 25,000 units
    9·1 answer
  • To be valid and enforceable, insurance contracts must meet which general legal requirements?
    12·1 answer
  • Physical distribution or shipping only refers to the process of transporting goods. True or false?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!