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Bas_tet [7]
3 years ago
7

Noise Makers Inc. has the following inventory data: July 1 Beginning inventory 30 units at $19 $ 570 7 Purchases 105 units at $2

0 2,100 22 Purchases 15 units at $22 330 $3,000 A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand. Using the average cost method, the value of ending inventory is
Business
2 answers:
allochka39001 [22]3 years ago
6 0

Answer:

Closing inventory is 48 units which are valued at $960.00

Explanation:

Average cost method also known as weighted average price is a type of stock valuamethod whereby the issue price is recalculated to get the weighted average price After each receipt. This particular type of method is simple to apply and it is acceptable to tax authorities. Since it is the weighted average of the purchase price, it is based on actual costs and does not lead to unrealized profit or loss. This method is not an actual buying cost.

 The formula for calculating the ending inventory is Cost of Goods Available for Sale ÷ Number of goods available (Number of goods from the beginning inventory + purchases). The formula for calculating the Cost of Goods Available for Sale is Sum of beginning inventory + Net purchases. Net purchases refers to the sum total of all purchases. Now the question can be solved.

Cost of goods available for sale = (30 units × $19) + ( 105 units × $20) + (15 units × $22) = $3,000 - This is the cost of goods available for sale.

For the closing inventory, Cost of goods available for sale ÷ Number of units available fo sale(sum of beginning inventory + purchases)

So, $3,000 ÷ 150 units = $20.00

48 units were on hand at the end of the year. So, the closing inventory is 48 units and its value is $960.00(48 units × $20.00).

dusya [7]3 years ago
5 0

Answer:

The value of ending inventory is $1,910.4

Explanation:

In this question, we are asked to calculate the value of ending inventory, using the average cost method.

According to its name, what the average cost method does is to assign a cost to an inventory item by dividing the total cost of the inventory items by the number of inventory items.

Mathematically, we use the method to solve this particular question at hand as follows;

this

Average cost per unit = (Cost of beginning inventory + Cost of inventory purchased)/(beginning inventory + inventory purchased)

Average cost per unit = (570+2,100+330)/(30+105+15) = 5970/150 = 39.8 per unit

Value of ending inventory = $39.8 * 48 = $1,910.4

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Ymorist [56]

The 20/60/20 rule states that the total percent of employees who could commit a fraudulent act is <u>60% - 80%.</u>

More about the fraudulent employees :

Basically, it's a non-scientific ratio intended to illustrate how the workforce will typically fall into one of three categories whenever a significant organizational change is anticipated

What it tries to say is:

20 percent will be on board and prepared to make the modifications as needed. 60 percent of people will be aware of the need for change, even though they are still dubious about it. 20% won't be participating at all. While it is the responsibility of the leader to advocate for change, it is unlikely that there will ever be a time when all employees are on board.

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8 0
1 year ago
Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $52,000 during the year. Income
exis [7]

Answer: $43,160

Explanation:

The amount of investment interest that can be deducted is:

= Interest expense * Proportion of total income that is taxable

Municipal interest is not taxable so the proportion of total income that is taxable is:

= Taxable dividends and interest / Total income

= 520,000 / (520,000 + 104,000)

= 0.83

Amount of investment interest that is deductible:

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7 0
3 years ago
Globalization is the process of the world becoming more connected. Like any process that involves economic choices, it has posit
Maru [420]

Explanation:

China has been one of the quickest nations in the world, and as a matter of fact of globalisation, it has suffered many implications.

A huge increase in environmental pollution has been a significant result. Discuss the impacts globalization has on environmental pollution in China's largest cities in an insightful article. Use qualitative analysis to gather facts and evidence and demonstrate the conclusions.

Globalization is the system of increasingly interconnecting the economies of multiple nations in the world. Citizens in one nation can easily purchase goods from many other nations in a globalised economy.  

However, it has an intrinsic and extrinsic impact on it these days.

For example, China has an effect on coal, natural gas and oil. China has a wide-ranging problem with its atmosphere, one of which is coal. China uses about "4 times the same kind of coal ads in the US on the comparison.

4 0
3 years ago
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The effects of inflation Suppose Friendly Airlines is considering signing a long-term contract with the union representing its p
Ksivusya [100]

Answer:

The lower than expected inflation would benefit the union and not benefit Friendly Airlines.

B. Variable inflation is associated with high transaction costs

Explanation:

Inflation is a persistent rise in the general price levels.

It was expected that inflation would increase by 3% and because of that expectation, wages were increased by 5%.

As it turns out, inflation only increased by 2%. If employers were aware that inflation would increase by only 2%, the increase in income would have been 4%.

As a result of this, the company ends up paying more to workers and workers and up earning more. So, the union benefits while the airline is at a disadvantage.

Because of the uncertainty of inflation, the union dedicates high amount of resources to monitor its movements. This shows that there is a high cost associated with the uncertainty of inflation.

I hope my answer helps you

8 0
3 years ago
Stewart soaps began business by issuing 25,000 shares of $5 par value common stock for $20 per share. during its first year, the
larisa [96]
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The net loss will only be reflected as a deduction from retained earnings. Retained earnings is where the net income or net loss of the company will be under in the year-end balance sheet. It is the balance of all income and loss the company has since its inception. 
6 0
4 years ago
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