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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

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Hunter-Best [27]
According to the TABC, seller-server certification can be revoked if one is charged with breaking the laws concerning the sale of alcohol. The length of time that TABC certificate is revoked depends on the number of offenses committed within a period of 12 months. In this case, the holder made a second offence within 12 months, therefore, the holder will not be allowed to get a TABC certification again for 90 days. One is required to take some time off work since it appears he/she has a problem with breaking alcohol laws
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3 years ago
A stress test in finical marketing means:_____.
Brilliant_brown [7]

Answer:

C.

Explanation:

Stress tests are carried out to determine how financial systems would react in periods of extreme stress eg. financial or economic crisis.

Stress situations are simulated and the reaction of the financial system to the stress is measured. Based on the reactions of the financial system, steps are taken to further improve or strengthen the financial system.

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8 0
3 years ago
If costs are 85% of sales (and profit is 15%), what is the amount of extra sales needed to equal $1,200 in profit from purchasin
attashe74 [19]

Answer:

$8,000

Explanation:

Given that

Profit = $1,200

Cost = 85% of sales

Profit = 15%

We know that

Sales = Cost + Profit

         = 85% + 15%

         = 100%

So sales percentage is 100%

Now we use the unitary method to find out the extra sales which would be

= Profit × sales percentage ÷ profit percentage

= $1,200 × 100% ÷ 15%

= $8,000

7 0
3 years ago
Talk about your experience as a leader of a team at school?
Lera25 [3.4K]
It was very good I lead them army of students at a football team
8 0
2 years ago
Read 2 more answers
If d0 = $1.75, g (which is constant) = 3.6%, and p0 = $40.00, what is the stock's expected total return for the coming year?
Nookie1986 [14]

Answer:

The answer is <u>"a. 8.13%".</u>

Explanation:

Given that;

d0 = $1.75

p0 = $40.00

g = 3.6% = 0.036

By using the formula;

Price of the stock = (Dividend this year)(1+g) ÷ (r - g)  

By putting the values;

40 = (1.75)(1+0.036) ÷ (r - 0.036)

r - 0.036 = (1.75)(1.036) ÷ 40

r - 0.036 = 1.813 ÷ 40

r - 0.036 = 0.045325

r = 0.045325 + 0.036

r = 0.081325 = 0.081325 x 100

<u>r = 8.13%</u>

7 0
3 years ago
Read 2 more answers
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