C. Inflation
If you require clarification on why, feel free to comment!
It is at a 30day free trail
Answer:
$1,209,100
Explanation:
The computation of the cost of the ending inventory as on Dec 31,2021 is shown below:
= Inventory as on Dec 31,2019 + {(Inventory as on Dec 31,2021 ÷ 2021 price index × 2019 price index) - Inventory as on Dec 31,2019} × 2021 price index ÷ 2019 price index
= $1,000,000 + {($1,439,100 ÷ 1.23 × 1) - $1,000,000} × 1.23 ÷ 1
= $1,000,000 + ($1,170,000 - $1,000,000) × 1.23
= $1,000,000 + $209,100
= $1,209,100
Answer:
b.2.8 times.
Explanation:
Asset turnover = net sales/average total assets
From Stein Corporation report,
Net sales = $3,500,000
Beginning total assets = $1,000,000
Ending total assets = $1,500,000
Average total asset = ($1,000,000 + $1,500,000)/2
= $1,250,000
Asset turnover = $3,500,000/$1,250,000
= 2.8 times
Option b is right.
1. Getting out of credit card debt.
2. Paying off student loans.