After computing the cost of inventory that was sold, The Cost of Goods sold is given as $1,334.30.
<h3 /><h3>The calculations related to the exercise are as follows:</h3>
From the information provided (see full question attached),
Inventory at hand as at November 1:
- there are 29 Units of Inventory at the cost of $5.90 dollars each.
Purchases:
- 118 units are purchased at $6.30 dollars each;
- 59 units are purchased at $6.15 dollars each; and
- 88 units are bought at $6.50 dollars each.
If at the end of the period there are 25 units each form the purchases above and 7 from the existing inventory as at Nov. 1st, then the cost of goods sold is:
((29-7) X 5.9) +((118-25) x 6.3) + ((59-25) x 6.15) + ((88-25) x 6.5))
= $1,334.30
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Ethnography is an approach in research, where the subjects are observed in their homes and/or communities.
- Ethnography is a mode of research that is largely used in the fields of Anthropology and Sociology.
- It is a method, wherein, the subjects of the study are not enclosed within an artificial environment, or otherwise known as a laboratory.
- They are studied by being observed in the environment they originate from or belong to.
- This method is specifically useful, while studying various cultures.
- It helps control the unwanted effects of being introduced in a new environment, which could alter the behavior of the subjects of the study.
Therefore, it is clear that Ethnography is the approach in research, where the subjects are observed in their homes and/or communities.
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Answer:
350,000 net income
+69,700 depreciation
+13,300 loss on disposal
433,000 adjusted income
no change in working capital
cash generated from operating activities 433,000
Explanation:
We need to remove from the net incoem the non-monetary terms
The depreication is an accounting concept, it doesn't involve cash disbursements, so it is added.
Also the los son disposal doesn't involve using cash so is also removed.
Rule:
to remove a non-monetary expense we should add it.
to remove a non-monetary gain we should decrease it.
Answer:
d. an increase in the quantity of bicycles demanded.
Explanation:
For this question, the law of demand applies.
According to the law of demand, when the price of the good increases the quantity demanded of that good would be decreased keeping other things constant and when the price of the good decreases the quantity demanded of that good would be increased keeping other things constant.
It reflects the inverse relationship between the price and the quantity demanded of the good.
Answer:
The correct answer is D) "producers should not produce one more roast beef sandwich because MC > MB"
Explanation:
Marginal cost (MC) is the additional cost that you provoke when you add an extra unit of goods or services to your company.
Marginal benefit (MB) is the additional benefit that you receive when you add an extra unit of goods or services to your company.
When:
MC > MB (producers shouldn't produce an additional good or service)
MC < MB (Producers should produce an additional good or service)
