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
Sophie [7]
3 years ago
8

The following data concerning the retail inventory method are taken from the financial records of Sunland Company. Cost Retail B

eginning inventory $ 194000 $ 269000 Purchases 889000 1240000 Freight-in 23400 — Net markups — 81100 Net markdowns — 56000 Sales — 1304000 Assuming no change in the price level if the LIFO inventory method were used in conjunction with the data, the ending inventory at cost would be
Business
1 answer:
ioda3 years ago
4 0

Answer:

$165,945.725 ≈ $165,946

Explanation:

Data provided in the question:

                                                  Cost                          Retail                

Beginning inventory             $194,000                   $269,000

Purchases                              889,000                    1,240,000

Freight-in                                23,400                            —

Net markups                            —                                    81,100

Net markdowns                       —                                  56,000

Sales                                        —                               1,304,000

Now,

The ending retail inventory

= Beginning inventory + Purchases + Net markups - Net markdowns - Sales

= $269,000 + $1,240,000 + $81,100 - $56,000 - $1,304,000

= $230,100

Thus,

ending inventory at cost

= [Beginning inventory cost ÷ Beginning inventory retail ] × ending retail inventory

= [ $194,000 ÷ $269,000 ] × $230,100

= $165,945.725 ≈ $165,946

You might be interested in
If you have a $150,000 30-year 5% mortgage, how much of your first monthly payment of $805.50 would go toward principal?
Mama L [17]
The answer is $625.000 
5 0
3 years ago
Read 2 more answers
You make $10.25 per hour. You have 7.5% of your total pay taken out of your check for your 401K retirement plan. How much will b
Lera25 [3.4K]

The amount that will be taken off the pay check for the 401k retirements plan given all the criteria indicated above is $38.82 (Option D)

<h3>What is the computation justifying the above?</h3>

Given:

Pay Per Hour: $10.25

Bonus: $15.375‬ for every hour worked over forty hours.

Total Hour worked: 47 Hours

Percentage deductible: 7.5%

Total Pay thus =

(40 *10.25) + (7 *15.375)

= $517.625

Total 401 K deduction thus, =

7.5% * 517.625

401K Deduction total = $38.82

Learn more about 401k retirements plan:
brainly.com/question/2908111
#SPJ1

Full Question:

You make $10.25 per hour. You have 71/2% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week? You get paid time-and-a-half for all hours over 40.

Select one:

A. $36.13

B. $69.02

C. $54.20

D. $38.82

E. $14.35

3 0
2 years ago
A project has cash flows of −$161,900, $60,800, $62,300, and $75,000 for Years 0 to 3, respectively. The required rate of return
Degger [83]

Answer:

Therefore, the internal rate of return is lower than the expected return, for this the project must be rejected

Explanation:

Solution

Given that

The cash flow of a project consists of the following amount from year 0 to 3 = −$161,900, $60,800, $62,300, and $75,000

The rate of return required = 13%

Now,

Let the Internal rate of return be y%

Thus,

At internal rate of return, the value of present inflows is the same as the value of present outflows.

So,

Internal rate of return = Value of present inflows = Value of present outflows

=161900 =60800/1.0y +62300/1.0 y ^2 + 75000/ 1,0 y^3

Therefore, y = internal rate of return 10.41%

7 0
3 years ago
Your checkbook register shows these activities for the month.Old balance: $134.56Check 512 to Good Stuff for $32.19Deposit: $345
Dvinal [7]

Based on the various activities for the month that were reflected in your checkbook, your new balance would be $135.84.

<h3>What is the checkbook balance?</h3>

This can be found as:
= Opening balance + Deposits - Checks and withdrawals

Solving gives:

= 134.56 + 345.12 - 32.19 - 250 - 16.65 - 45

= $135.84

In conclusion, your new balance is $135.84.

Find out more on checkbook balances at brainly.com/question/3719189

#SPJ1

3 0
2 years ago
Prepare the issuer's journal entry for each of the following separate transactions.
Alekssandra [29.7K]

Answer:

A. Dr Cash $327,500

Cr Common Stock $210,000

Cr Capital Paid In $117,500

B. Dr Cash $90,000

Cr Common Stock $90,000

C. Dr Inventory $59,000

Dr Machinery $185,000

Cr Note Payable $95,000

Cr Common Stock $80,000

Cr Capital Paid In $69,000

Explanation:

Preparation of the issuer's journal entry

A. Dr Cash $327,500

Cr Common Stock $210,000

(52,500 shares* $4 par value )

Cr Capital Paid In $117,500

($327,500-$210,000)

B. Dr Cash $90,000

Cr Common Stock $90,000

C. Dr Inventory $59,000

Dr Machinery $185,000

Cr Note Payable $95,000

Cr Common Stock (4000 * $20) $80,000

Cr Capital Paid In $69,000

($59,000+$185,000-$95,000-$80,000)

5 0
3 years ago
Other questions:
  • A company is considering producing some new gameboy electronic games. based on past records, management believes that there is a
    10·1 answer
  • Ralph Young was a commercial tour boat operator on the northern coast of Kauai, Hawaii. He was licensed by the state of Hawaii t
    12·1 answer
  • What type of audit occurs at your home or business
    11·1 answer
  • Target cost-per-acquisition (cpa), which factors in auction-time signals including device, location, time of day, remarketing li
    15·1 answer
  • An entity should consider the cost of a control in relationship to the risk. Which of the following controls best reflects this
    9·1 answer
  • When savers deposit funds into banks, which then loan these funds to borrowers, it is called ________ finance.
    10·1 answer
  • If an economy at full employment experiences a fall in aggregate demand, then what should the government do to restore the econo
    12·1 answer
  • The accountant for Eva's Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the
    11·1 answer
  • Hows everyone's day?
    9·2 answers
  • Which of the following is an example of a human resource?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!