There needs to be more information.
Answer:
Merchandise inventory = $32,864
Cost of merchandise sold = $310,776
Explanation:
As per the data given in the question,
Merchandise inventory = Balance of purchases on 21 April
= 26 units × $1,264 per unit
= $32,864
Calculating the ending inventory :
Details units
Ending inventory = beginning inventory + Purchase - Sale
Beginning inventory = 25 units
Add : Purchase made on
April 8 = 75 units
May 8 = 60 units
may 28 = 80 units
June 21 = 35 units
Total units for sale = 275 units
Less : Units sold on
April 11 = 40 units
April 30 = 30 units
May 10 = 50 units
May 19 = 20 units
June 5 = 40 units
June 16 = 25 units
June 28 = 44 units
Ending Inventory in units = 26 units
Cost of merchandise sold =Merchandise available for sale - (Merchandise inventory, June 30, 2016)
=$343,640 - $32,864
= $310,776
Answer:
Cost of Goods Sold = $19200
Explanation:
The cost of goods sold or COGS is the cost of inventory that the business has sold for the period. The cost of goods sold can be calculated as follows,
Cost of Goods sold = Opening Inventory + Purchases for the year - Closing Inventory
Cost of Goods Sold = 6200 + 21200 - 8200
Cost of Goods Sold = $19200
Answer:
B. the demand for a product and its price has a direct relationship
Explanation:
demand comes from the price which ultimately effects the proportions with the consumers purchasing the product. if the product is good enough with a fair price to come with it, the demand will increase, or if a product becomes more scarce the demand for it will increase along with the price raising.
Answer:
$2,210,126
Explanation:
Calculation to determine what The amount reported on Sun Angel's 2020 year end balance sheet for Estimated Warranty Liability is:
Estimated Warranty Liability=(1%+3%*$184,743,795)-$5,179,626
Estimated Warranty Liability=$7,389,752-$5,179,626
Estimated Warranty Liability=$2,210,126
Therefore The amount reported on Sun Angel's 2020 year end balance sheet for Estimated Warranty Liability is:$2,210,126
