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Margarita [4]
3 years ago
8

Caitlin Grasso is a salesperson in the kitchen and bath department at Morris Supplies, Inc. She is guaranteed a minimum salary o

f $200 per week plus 5.5% of her total sales. What are her total sales for a week in which her gross pay was $560.
Business
1 answer:
LenaWriter [7]3 years ago
3 0
Caitlin grossed $560 in one week-$200 for her minimum salary=$360 for 5.5% share of her total sales. So $360=5.5%x where x=gross sales. so $360=0.055x and $360/0.055=x=$6545. To check, $6545x0.055=$360. So her gross sales were $6545.
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uysha [10]

Answer:

$43,030

Explanation:

IAS 2 Inventories states that inventory is to be recognized at cost, however, subsequent measurement requires that inventory be carried at the lower of cost or net realizable amount (NRV).

As such, where the cost of inventory is higher than the NRV, it is written down to the NRV using the following entries,

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with the difference between the cost and the NRV.

Inventory Quantity   Unit Cost    Unit NRV   New unit cost

Furniture    230           $88             $103             $88

Electronics   53           $430           $315             $315

From the analysis above, the cost of inventory is lower than the NRV for Furniture, hence no adjustment is required. However, the cost of Electronics is higher than the NRV hence a write down is required. This amount is

= ($430 - $315) × 53

=$115 × 53

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Total recorded cost(ending) of inventory before any adjustment

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5 0
3 years ago
All of the following statements related to bonds are correct regarding bonds except: bonds typically have a $1,000 face value. b
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All of the following statements related to bonds are correct regarding bonds except usually pay interest annually.

<h3>What does market price mean?</h3>
  • The price at which a good or service can currently be bought or sold is known as the market price.
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<h3>How do you find the market price?</h3>
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  • Find the market price by investigating factors such as market trends, the quantity of suppliers, and the number of current customers.

<h3>What is current price and market price?</h3>
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Learn more about market price here:

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2 years ago
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The answer to this question is true
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AfilCa [17]

Answer:

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<u>Solution and Explanation:</u>

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