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3 years ago

A dealer bought an item for $7, sold it for $8, bought it back for $9, and sold it for $10. how much profit did she make?

1 answer:

8 0

First spent $7 on the item that will be - 7
Got $8 when he sold it so + 8
Bought the item for $9, so - 9
Again sold it for 10 make it + 10
Final profit will be P = - 7 + 8 - 9 + 10
Profit = $2

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Answer:

(A) 352,410

(B) 328,910

(D) 461,770

(E) 165,000

(F) 175,000

Explanation:

1.- WIP, August 1st: $ 19,660 $ 41,650 (e)

2.- Cost added $ 332,750 (c) $ 1,075,000

3.- Subtotal (a) $ 515,770 $ 1,240,000

4.- WIP, August 31th $ 23,500 $ 54,000 (f)

5.- COGM (b) (d) $1,068,000

The identity to solve for this is as follow:

$$$beginning WIP + cost added = COGM + ending WIP$

<u>The third row is the sum of the left side of the of the equation.</u>

beginning WIP + cost added.

(a) 332,750 + 19,660 = 352,410

(e) 1,240,000 - 1,075,000 = 165,000

COMG will be third row less fourth row

the ending WIP subtracted from the left side

(b) 352,410 - 23,500 = 328,910

(d) 515,770 - 54,000 = 461,770

(f) 1,240,000 - 1,068,000 = 175,000

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Answer:

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Answer:

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Answer:

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