Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.
<h3>Cost of good sold</h3>
Using this formula
Cost of goods sold=Goods available for sale-Inventory balance
Where:
Goods available for sale=$1,074,450
Inventory balance=$85,430
Let plug in the formula
Cost of good sold=$1,074,450-$85,430
Cost of good sold=$989,020
Inconclusion Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.
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The london missionary sent david livingstone to south africa in 1840.
<span>You can estimate your tax liability through proper financial planning.</span>
Answer:
True
Explanation:
Economic integration refers to an agreement between countries to eliminate trade barriers and coordinate their monetary policies. The integration allows to reduce trade costs, more employment opportunities as there is mobility and market expansion. Usually, this is considered a regional trading arrangement as it tends to be between neighboring countries. An example of a economic integration is the European Union. According to this, the statement is true.
Answer: A. incorrect because part of each payment is to principal and to interest. Therefore, only a portion of the payment goes to interest, so the full amount should not be included when computing the rate of interest paid.
Explanation:
When paying back a loan, there are two components to the periodic interest payment. The first component is the interest payment. This is the payment to compensate the borrower for loaning out the money and is based on the interest rate and the principal left to be repaid.
The second component goes towards repaying the principal of the loan which in this case is $10,000. When computing the periodic interest rate therefore, the entire amount paid per period should not be used as it would inflate the interest rate.
