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murzikaleks [220]
3 years ago
12

During 2021, a company sells 500 units of inventory for $95 each. The company has the following inventory purchase transactions

for 2021:Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method

Business
1 answer:
Kryger [21]3 years ago
6 0

Answer:

cost of goods sold = $36,285

ending inventory = $1,742

Explanation:

when you use the weighted average cost method you have to calculate the COGS using the total number of units and the total amount paid for them.

beginning inventory = 71 units for $5,325

purchase 1 = 262 units for $18,864

purchase 2 = 187 units for $13,838

total 524 units for $38,027

cost per unit = $38,027 / 524 units = $72.57

cost of goods sold = 500 units x $72.57 = $36,285

ending inventory = 24 units x $72.57 = $1,741.68 ≈ $1,742

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The value of what a Canadian-owned Tim Hortons produces in South Korea is included in the Canadian ________ and the South Korean
Illusion [34]

Answer: GNP; GDP

Explanation:

<em>The value of what a Canadian-owned Tim Hortons produces in South Korea is included in the Canadian </em><em><u>GNP </u></em><em>and the South Korean </em><em><u>GDP</u></em><em>. </em>

Gross National Product refers to the total amount of domestic production and foreign production that can be attributed to the residents of a nation.

This means that GNP includes the GDP and income earned by residents of the country in other countries but less the income earned by foreigners in the country. For Canada therefore, the value of goods produced by the Canadian company in South Korea will be added to the GNP.

Gross Domestic Product (GDP) on the other hand is simply the total final value of goods and services produced in a country regardless of if it was foreigners or residents doing the production. The value of what a Canadian-owned Tim Hortons produces in South Korea is therefore included in South Korea's GDP.

7 0
2 years ago
Suzy’s Cool Treatz is a snow cone stand near the local park. To plan for the future, the owner wants to determine her cost behav
prisoha [69]

Answer:

Cost= $6,242.18

Explanation:

Giving the following information:

Month Number of snow cones Total operating costs

January 3,500 cones  $5,000

February 3,800 cones $4,800

March 5,000 cones $6,800

April 3,600 cones $5,450

May 4,700 cones $6,200

June 4,250 cones $5,950

Suzy uses the high-low method to determine her operating cost equation.

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ highest activity units - Lowest activity units)

Variable cost per unit= (6,800 - 4,800) / (5000 - 3,500)= 1.3333

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 6,800 - (1.3333*5000)= 133

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 4800 - (1.3333*3,500)= 133

Q= 4,582

Cost= 133 + 4582*1.3333= $6,242.18

6 0
3 years ago
The comparative balance sheets and income statement for Bingky Barnes Inc. are as follows:
MatroZZZ [7]

Answer:

Bingky Barnes Inc.

Statement of Cash Flows for the year ended December 31, Current Year

(using the indirect method)

Operating activities:

Net income                          $11,900

Add non-cash expenses:

Depreciation                          5,400

Adjusted operating            $17,300

Changes in working capital:

Accounts receivable            -3,800

Merchandise inventory       -3,700

Accounts payable               +8,800

Accrued wages expense       -400

Net operating cash flow   $18,200

Investing activities:

Property & equipment   -$20,700

Financing activities:

Note payable, long-term    -6,300

Common stock and

additional paid-in capital +16,700

Net cash from financing  $10,400

Net cash flows                   $7,900

Explanation:

a) Data and Calculations:

Comparative balance sheets and income statement

                                                   Current Year     Prior Year    Change

Balance sheet at December 31

Cash                                                  $37,300       $29,400       +7,900

Accounts receivable                          32,700          28,900       +3,800

Merchandise inventory                     42,000          38,300        +3,700

Property and equipment                  121,500        100,800      +20,700

Less: Accumulated depreciation    (30,700)        (25,300)

Total assets                                 $202,800        $172,100

Accounts payable                          $36,700        $27,900        +8,800

Accrued wages expense                   1,400             1,800            -400

Note payable, long-term                 44,500         50,800         -6,300

Common stock and

 additional paid-in capital              89,600         72,900       +16,700

Retained earnings                          30,600          18,700      

Total liabilities and equity         $202,800      $172,100

Income statement for current year

Sales                                         $123,000

Cost of goods sold                      73,000

Other expenses                           38,100

Net income                                 $11,900

Additional Data:

a. Equipment bought for cash, $20,700

b. Long-term notes payable was paid off for $4,800?

c. Issued new shares of stock for $16,400 cash.

d. No dividends were declared or paid.

e. Other expenses:

Depreciation, $5,400

Wages            20,100

Taxes,               6,100

Other,              6,500

f. Assume that expenses were fully paid in cash, when there are no liabilities account related to them. For example, tax expenses are paid in cash since there is no taxes payable.

Wages Payable

Beginning balance             $1,800

Wages expense $20,100

Ending balance      1,400

Cash paid                           19,700

7 0
3 years ago
PLEASE HELP ASAP!!!
vredina [299]

The answer could be any of these. This is not a fair question.

I believe that question is trying to get you to lean towards answer C because theoretically your family would know your character better than a bank might.

4 0
3 years ago
Q:
Pani-rosa [81]

Answer:

3. expansionary monetary policy

Explanation:

To help accomplish this during recessions, the Fed employs various monetary policy tools in order to suppress unemployment rates and re-inflate prices. These tools include open market asset purchases, reserve regulation, discount lending, and forward guidance to manage market expectations.

4 0
3 years ago
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