Answer:
b.112.3 days
Explanation:
The computation of the number of days' sales in inventory for the year is shown below:
Day inventory outstanding = {(Beginning inventory + ending inventory) ÷ 2}÷ cost of goods sold × number of days in a year
= {($200,000 + $140,000) ÷ 2} ÷ ($552,500) × 365 days
= ($170,000) ÷ ($552,500) × 365 days
= 112.3 days
The correct answer is C,
A good is said to have an inelastic supply if the suppliers did not have any choice than producing it even though the cost of production is high and the buyers did not have any choice than buying it even though it is expensive.
No one can do without shoes, even if they are expensive, we still need to buy them.
Answer:
$150,000
Explanation:
Ending inventory, the value of goods available for sale at the end of the accounting period, plays an important role in reporting the financial status of a company and can best be figured out using the equation,
Ending Inventory = Beginning Inventory + Net Purchases - Cost of Goods Sold (or COGS)
Beginning Inventory = $160,000 in retail
Net purchases = $500,000 in retail +$10,000 Markups
Cost of goods sold = $500,000
So, End Inventory = 160,000+500,000+10,000-500,000
End Inventory = $150,000
Answer:
The correct answer is letter "B": legislation cannot repeal basic economic motives.
Explanation:
Government price controls are regulations imposed by the central government of a country to set limits on prices of certain goods or services because of a surplus, shortage or simply to maintain the demand and supply of those products at their equilibrium level.
However, the demand for some of those products could be unpredictable because individuals could react in opposite directions even if the government has set rules against consumers' favor. <em>Customers' motives might not be always repealed by legislation</em>.
Answer:
$40,500.
Explanation:
Calculation for Koch's adjusted basis in machine 2 after the exchange
Based on the information given we were told that Machine 1's had adjusted basis of the amount of $40,500 at the time of the exchange which means that Koch's adjusted basis in machine 2 after the exchange will the amount of $40,500 which is Machine 1's adjusted basis .
Therefore Koch's adjusted basis in machine 2 after the exchange will be $40,500
