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Mademuasel [1]
4 years ago
13

Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to c

urrent year's operations: Cost Retail Beginning inventory and purchases $ 324,000 $ 555,000 Net markups 45,000 Net markdowns 35,000 Net sales 510,000 What amount should be reported as cost of goods sold for the year? (A) $291,892.(B) $294,300.(C) $292,460.
Business
1 answer:
Nat2105 [25]4 years ago
5 0

Answer:

The correct answer is B

Explanation:

Retail

= Beginnning inventory and purchases + Net Markups

= $555,000 + $45,000

= $600,000

Goods available for sale = $600,000 - Net Markdowns

= $600,000 - $35,000

= $565,000

Estimated ending inventory at Retail = Goods available for sale - Net Sales

= $565,000 - $510,000

= $55,000

Cost

Beginnning inventory and purchases = $324,000

Estimated ending inventory at Cost = Estimated ending inventory at Retail × 54%

= $55,000 ×  54%

= $29,700

Estimated Cost of goods sold =  Beginnning inventory and purchases - Estimated ending inventory at Cost

= $324,000 - $29,700

= $294,300

Working Note:

Cost to Retail percentage = Cost / Retail

= $324,000 / $600,000

= 54%

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3 years ago
If stock ghi has an initial price of $100. two years later the price is $132. what is ghi's geometric mean rate of return?
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An initial price of $one hundred. years later the charge is $132.The ghi's geometric implies a rate of return ($132/$a hundred)^half of - 1 = 14.89%.

A rate of return (RoR) is the net advantage or lack of funding over a distinctive time period, expressed as a percent of the funding's preliminary cost. 1 while calculating the rate of return, you're figuring out the proportion trade from the beginning of the length till the stop.

The yearly fee for the rate of return is the share change within the cost of funding. for example: if you count on you earn a ten% annual charge for going back, then you are assuming that the price of your investment will grow with the aid of 10% every yr.

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ROI is calculated by subtracting the initial cost of the funding from its final price, then dividing this new variety by way of the cost of the investment, and, sooner or later, multiplying it with the aid of one hundred. The price of return is calculated as follows: (the funding's modern cost – its initial value) divided via the preliminary value; all times one hundred. Multiplying the outcome enables to the expression of the outcome of the system as a percentage.

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7 0
2 years ago
Schuepfer Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 3,500 units ar
Ugo [173]

Answer:

The cash disbursements for selling and administrative expenses on the March selling and administrative expense budget should be $44850.

Explanation:

For computing the cash disbursement the following equation is to be used which is shown below:

= Sales units × variable selling and administrative expense per unit + Fixed selling and administrative expense - Depreciation

= 3,500 × $4 + $35,850 - $5,000

= $14,000 + $35,850 - $5,000

= $44,850

Since all information is given on month basis, so we don't need to change in year basis as we have to calculate for march monthly only.

Hence, all things is to be considered for computing cash disbursement for march month.

Thus, The cash disbursements for selling and administrative expenses on the March selling and administrative expense budget should be $44850.

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3 years ago
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Answer:

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Explanation:

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8 0
3 years ago
Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered que
SashulF [63]

Answer: Option A  

     

Explanation: The marketing research that is done for the business purposes usually takes a long time and demands a whole lot of money to procure various resources that are necessary for the research.

Also, it is not guaranteed that the research will end as a profit to the organisation. Thus, the business organisation tends to be more cautions about the researches.

Hence the correct option is A.  

4 0
4 years ago
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