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Mrac [35]
3 years ago
14

Jefferson Company has sales of $302,000 and cost of goods available for sale of $270,200. If the gross profit ratio is typically

30%, the estimated cost of the ending inventory under the gross profit method would be:
Business
1 answer:
mr_godi [17]3 years ago
4 0

Answer:

Ending inventory is $58,800

Explanation:

The formula for the gross profit ratio is as under:

Gross profit ratio = Gross Profit / Sales

And here Sales is $302,000 and Gross profit ratio is 30%.

By putting values we have:

30% = Gross profit / $302,000

Gross Profit = 30% * $302,000 = $90,600

We also know that:

Gross Profit = Sales - Cost of sales

By putting values we have:

$90,600 = $302,000 - Cost of sales

Cost of Sales = $302,000 - 90,600

Cost of Sales = $211,400

The difference between the cost of goods available for sale and cost of goods sold is ending inventory.

Ending Inventory = $270,200 - $211,400 =  $58,800

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Hyun's Handicrafts is a company that provides custom linens for both businesses and individual consumers. Hyun does not make any
Tom [10]

Answer:

Pull Strategy

Explanation:

The Pull Strategy is a marketing strategy which consists in having the customer seek the product by himself or herself.

The goal is to create consumer demand before kickstarting production.

In this case, we have a perfect example of a pull strategy, because Hyun will not start production unless it has proof of demand from a customer, the proof being a order.

8 0
3 years ago
The foreign exchange market is a market for converting the currency of one country into that of another country.
3241004551 [841]

Answer:

a. True

Explanation:

The foreign exchange market is a market for converting the currency of one country into that of another country.

For example, the conversion of dollars of the United States of America can be converted into naira (Nigeria) at the foreign exchange market.

Efficient market school is the market school which argues that forward exchange rates do the best possible job for forecasting future spot exchange rates, so investing in exchange rate forecasting services would be a waste of time because it is impossible to have a consistent alpha generation on a risk adjusted excess returns basis as market prices are only affected by new informations.

The efficient market school also known as the efficient market hypothesis (EMH) is a hypothesis that states that asset (share) prices reflect all information and it is very much impossible to consistently beat the market.

Also, forward exchange rates are exchange rates controlling foreign exchange transactions at a specific future date or time.

4 0
2 years ago
when sending a claim to the insurance company for services provided by the physician why are both ICD-10 and CPT codes required
SSSSS [86.1K]

When a patient receives services from a licensed doctors, these services are recorded and assigned codes by the medical coder. ICD codes are used for diagnoses, while CPT codes are used for various treatments. The summary of these services, through these code sets, make up the bill. Medical Claim Billings are rejected when Diagnostic code (ICD-10 code) and procedure code (CPT code) are missing, not complete, or do not match to the treatment given by the physician.

8 0
3 years ago
Bernie wants to go into the business of construction contracting. Among the reasons that would probably convince Bernie to set u
krek1111 [17]

Answer:

a. its greater flexibility

Explanation:

A sole proprietorship is A form of legal business structure owned by only one person. The liabilities of the owner is unlimited. It is usually flexible as decisions are made and approved by the owner.

A sole proprietorship doesn't usually have perpetual existence. It usually ends when the owner dies. It is not easy to transfer shares to other family members.

A sole proprietorship gives the owner the opportunity to be involved in the day to day running of the business.

I hope my answer helps you.

6 0
3 years ago
Never start a project unless all resources are available
Ilya [14]
Agreed! This is so true tho!
6 0
3 years ago
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