Professional codes of conduct serve what function for business and industry

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sol

Levart [38]

Answer:

Ending inventory is $424,045

Cost of goods sold is $889,955

Explanation:

Retail Inventory method is used to estimate the value of inventory using retail price of the unit of inventory.

As per given data

Cost Retail

Beginning inventory $370,000 $515,000

Net purchases $890,000 $ 1,280,000

Freight-in $54,000

Net markups $55,000

Net markdowns $25,000

Net sales $1,235,000

Cost of Purchase = 890,000 + 54,000 = $944,000

Retail Price of Purchases = Net Purchases Retail + ( Net Markup ) = $1280,000 + ( 55,000 - 25,000 ) = 1,310,000

Cost to retail Percentage = ( $944,000 / $1,310,000 ) x 100 = 72.06%

Closing Inventory = Purchases + Net Markup - Sales = $1,280,000 + ( $944,000 / $1,310,000 ) - $1,235,000 = $75,000

Retail Cost

Beginning inventory $515,000 $370,000

Net purchases $75,000 $54,045 ( $75,000 x 72.06% )

Ending Inventory $590,000 $424,045

Closing Inventory = Opening + Purchases - Closing = $370,000 + ( 890,000 + 54,000 ) - 424,045 = $889,955

7 0

3 years ago

Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: LOADING.... Thereafter

Tatiana [17]

Answer:

Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: (Click on the following icon in order to copy its contents into a spreadsheet.) 2 3 Year FCF (5 million) 53. 6 66.2 78. 6 4 75. 3 . 5 82.5 After that, the free cash flows are expected to grow at the industry average of 4.4% per year. Using the discounted free cash flow model and a weighted average cost of capital of 13.6% a. Estimate the enterprise value of Heavy Metal. b. If Heavy Metal has no excess cash, debt of $288 million, and 42 million shares outstanding, estimate its share price. a. Estimate the enterprise value of Heavy Metal The enterprise value will be $ million. (Round to two decimal places.) b. If Heavy Metal has no excess cash, debt of $288 million, and 42 million shares outstanding, estimate its share price. price. The stock price per share will be $ (Round to two decimal places.)

Explanation:

5 0

2 years ago

What term means the unused option when deciding how to use one's resources.

andrezito [222]

Answer:

Opportunity cost

6 0

3 years ago

Expensive high quality late harvest auslese, beerenauslese and trockenbeerenauslese wine is made from grapes which are typically

yarga [219]

For Auslese, the medium sweet wine is made from late picked ripe grapes that are affected by Noble Rot. For Beerenauslese, a very sweet wine is made from very ripe grapes that are affected by Noble Rot. For Trockenbeerenauslese, a very sweet wine made from even riper grapes that are affected by Noble Rot.

4 0

3 years ago

Marcus is the director of a small company in Boston. He is trying to obtain parts from a manufacturer in Taiwan but that company

kozerog [31]

Answer:

The correct answer is: bribery.

Explanation:

Bribery involves an illegal activity where a reward is offered from one party to another(s) in order to provoke certain favorable behavior. Normally, the bribes are offered to public officials or high range executives to avoid legal responsibilities, or undesired laws or to change the payee point of view on a certain matter being discussed where substantial profits can be obtained.

6 0

4 years ago

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