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
True [87]
3 years ago
13

Gross Profit MethodBased on the following data, estimate the cost of the ending merchandise inventory:Sales (net) $1,450,000Esti

mated gross profit rate 42%Beginning merchandise inventory $100,000Purchases (net) 860,000Merchandise available for sale $960,000Cost of Ending Merchandise InventoryMerchandise available for sale $Less cost of merchandise sold Estimated ending merchandise inventory $
Business
1 answer:
Mariulka [41]3 years ago
5 0

Answer:

Ending inventory= $119,000

Explanation:

Giving the following information:

Sales (net) $1,450,000

Estimated gross profit rate of 42%

Beginning merchandise inventory $100,000

Purchases (net) 860,000

Merchandise available for sale $960,000

Cost of goods sold= 1,450,000*0.58= 841,000

Ending inventory= 960,000 - 841,000= 119,000

You might be interested in
Consider the case of Demed Inc.: Demed Inc. has 9% annual coupon bonds that are callable and have 18 years left until maturity.
solong [7]

Answer:

A) YTM = 7.64%

B) YTC = 7.36%

C) 8 years

D )   7.64%

Explanation:

Annual coupon bond rate = 9%

number of year left until maturity = 18

par value of Bonds( FV ) = $1000

current market price( PV ) = $1130.35

Demed can call bonds in 8 years at a call price of $1060

A) what is the Bonds' YTM  ( yield to maturity )

we calculate the interest per period ( PMT )

= ( Fv * Annual coupon bond rate) / number of compounding per year

= (1000 * 9% ) / 1 = $90

next we calculate number of compounding periods till maturity ( NPER )

= number of years to maturity * number of compounding per year

= 18 * 1 =  18

using excel formula = RATE ( NPER,PMT,PV,FV) )

hence yield to maturity = 7.64%

B) what is YTC ( yield to call )

we calculate the interest per period ( PMT )

= $1000 * ( coupon rate / number of compounding per year )

= $1000 * ( 9% / 1 )  = $90

 next we calculate the number of compounding periods till sell

= 8 * 1 = 8

using excel formula = RATE ( NPER,PMT,PV,FV) )

Hence the YTC = 7.36%

C) Bonds will be called at 8 years and this is because the YTC is less than YTM

D )   The coupon rate for the bonds to be issued  at par,  is  7.64%

6 0
3 years ago
An example of short term investment goal would be saving for:
Debora [2.8K]

Answer:

Watching movies

Explanation:

Short term goal can take days or weeks to accomplish, if you're saving for a house that will take months or even years, for retirement you have to be certain age and tertiary education is an education as the word said it comes third it means college studies for that also you have to wait a long time.

5 0
3 years ago
Last year both a borrower and a lender expected an inflation rate of 3 percent when they signed a long-term loan agreement with
valentina_108 [34]

Answer:

B. The lender would benefit.

Explanation:

Based on the information provided within the question it can be said that in this scenario the one who would benefit from a lower inflation rate would be the lender. That is because by there being a lower inflation rate it means that the money that the borrower needs to pay back the loan does not have the buying power he predicted it would have when he borrowed it. Meaning that he would need to pay more money to the lender than originally anticipated.

4 0
3 years ago
Read 2 more answers
How do businesses compete for customers?
lorasvet [3.4K]

Answer:

marketing team and review resources

6 0
3 years ago
On december 31, 2015, cool wear inc. had balances in accounts receivable and allowance for uncollectible accounts of $41,000 and
Wewaii [24]

$6,000.00 - ($2,050.00 - $750.00) =

$6,000.00 - $1,300.00 = $4,700.00

Bad debt expense for 2019 would be: $4,700.00

6 0
3 years ago
Other questions:
  • Of the 27.8 million businesses in this country at the end of 2008, the majority _____.
    5·1 answer
  • why is it important to look at external sources of information when exploring product and service information​
    15·1 answer
  • &&&
    15·2 answers
  • From the ledger balances below, prepare a trial balance for Cullumber Company at June 30, 2017. All account balances are normal.
    8·1 answer
  • What are the objectives of business​
    8·1 answer
  • Which management program aims to reduce manufacturing defects to only 3.4 per million? reengineering total quality management ma
    7·1 answer
  • Production Budget
    5·1 answer
  • A stadium's normal ticket price is $90. If the special promotional price for the ticket is $81, what percentage discount was bei
    11·1 answer
  • Business partners Arnetta and Xavier are designing their new office space and furnishings. They want to communicate success and
    14·1 answer
  • Dr. Peabody paid $213 for repairs to his dental equipment. Which of the following statements is true?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!