sold 500 tickets therefore it is not economically efficient
Answer:
Ending inventory : $868
Explanation:
FIFO (First-In-First-Out) is a method of inventory valuation where the inventory that is received first is sold first. In other words, the earliest inventory is used first. This is common for perishable inventory such as fruits and vegetables which if not used fast, will be wasted.
01/01/21 : Beginning Inventory : 200 units x $5 = $1000
01/15/21 : Purchases : 100 units x $5.3 = $530
01/28/21 : Purchases : 100 units x $5.5 = $550
Total units = 200 + 100 + 100 = 400 units
Units sold = Total inventory available for sale - ending inventory
= 400 - 160 = 240 units.
COGS:
Beginning Inventory : 200 units x $5 = $1000
Purchases : 40 units x $5.3 = $212
Cost of goods sold : $1000 + $212 = $1212
Ending inventory:
Purchases : (100 - 40) units x $5.3 = $318
Purchases : 100 units x $5.5 = $550
Ending inventory : $318 + $550 = $868
Medium of exchange because it's the purchase that is in question here
Answer:
Present Value= $15,874.25
Explanation:
Giving the following information:
Assume the real rate of interest is 3.00% and the inflation rate is 6.00%. What is the value today of receiving 14,488.00 in 13.00 years?
<u>This is a rare case where the interest rate is negative:</u>
Interest rate= 0.03 - 0.06= -0.03
Having said this, the present value is higher than the final value:
PV= FV/ (1+i)^n
PV= 14,488/ 0.97^3= $15,874.25
Answer:
the costs that change depending on a company's performance
Explanation:
Variable costs refer to the costs that fluctuate with the level of production. An increase or decrease in the output level results in variable costs moving in the same direction. If the business stops production, the variable costs will be nil.
Raw materials and packaging costs are good examples of variable costs. The more a company produces, the more materials it consumes, and the higher the costs of purchasing the materials.
