1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Murrr4er [49]
3 years ago
14

Tore Company's records reveal the following information regarding its inventory. Beginning inventory was $100,000 at cost and 16

0,000 at retail. Purchases during the year were $300,000 at cost and $500,000 at retail. Markups were $10,000 and markdowns, $20,000. Assuming the conventional retail method and net sales of $500,000, ending inventory at cost would be_________.
Business
1 answer:
vodka [1.7K]3 years ago
4 0

Answer:

$150,000

Explanation:

Ending inventory, the value of goods available for sale at the end of the accounting period, plays an important role in reporting the financial status of a company and can best be figured out using the equation,

Ending Inventory = Beginning Inventory + Net Purchases - Cost of Goods Sold (or COGS)

Beginning Inventory = $160,000 in retail

Net purchases = $500,000 in retail +$10,000 Markups

Cost of goods sold = $500,000

So, End Inventory = 160,000+500,000+10,000-500,000

End Inventory = $150,000

You might be interested in
Mark exchanged an office building that he owned for over ten years for vacant land used by Sandy in her farming business. The of
hram777 [196]

Answer:

h

Explanation:

3 0
2 years ago
Known popularly by its section in the Federal Bankruptcy Code, which of the following types of bankruptcy is the traditional for
Step2247 [10]

Answer:

Chapter 7 bankruptcy

Explanation:

Chapter 7 bankruptcy is the most common type of bankruptcy filing and it can be filed by individuals, partnerships or corporations (anyone can do it). It is also the quickest and simplest form of bankruptcy filing. But if you are an individual, in order to qualify for Chapter 7 bankruptcy you must earn less than the median state income. Many people choose Chapter 7 bankruptcy since they can get to keep all or almost all of their property.

6 0
3 years ago
An example of the ___________ effect is when bmw gained in-depth information about visitors to a popular chinese social media si
vova2212 [387]

An example of the information effect is when bmw gained in-depth information about visitors to a popular chinese social media site, and used that information to determine which visitors were likely to be luxury car buyers and targeted advertising toward them.

The information effect can change a persons perception or idea in a good or bad way depending on the information that is shared with them. They are able to tailor information to their audience and can build up or tear down expectations depending on their overall goal of the advertisements. A good advertiser knows their audience and tailors advertisements to fit their wants and needs.

4 0
3 years ago
Step 1 of 12 In this lesson you will shop to find the best car that you can afford and figure out whether leasing or an outright
Scorpion4ik [409]

To know if it is better to rent a car or buy it according to a person's income, it is necessary to evaluate different factors.

The first factor that a person must take into account to compare whether it is better to buy a car or rent it is the income that he receives each month. For example:

  • If a person receives $ 800 a month, his income is low, making it impossible for him to buy or rent a car for a long time.

  • On the other hand, if a person receives $ 4,000 a month, he has the facility to buy or rent a car according to her/his preference. Some people prefer to rent a car because they do not have to spend money on repairs and other expenses, while other people prefer to buy it to have it for a long time and have it available all the time.

This situation varies according to other factors such as the purchase value of the car, the monthly rental value, the value of the repairs, the value of the fuel, among others.

Note: This question is incomplete because it does not have the complete information.

Learn more in: brainly.com/question/25442731

8 0
2 years ago
Because internals seem to have a greater belief that their actions have a direct effect on the consequences of that action, they
Pavlova-9 [17]

Answer: True

Explanation: Merit pay is an increase in employee base paid due to some increase in employee performance. While sales commission are payments to employee based on a percentage of the total revenue brought in by the employee.

It is true that employees would respond more productively to incentives such as merit pay or sales commission.

3 0
3 years ago
Other questions:
  • ___ is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, pr
    7·1 answer
  • Beyonce, taylor swift, and miley cyrus make commercials that encourage people to drink milk. these ads contain _____ . trade-off
    7·2 answers
  • Plz, help ASAP!!!!!!
    5·1 answer
  • You are analyzing two companies that manufacture electronic toys – Like Games Inc. and Our Play Inc. Like Games was launched eig
    8·1 answer
  • In the integrated process, the steps related to the production process are suspended when there are insufficient quantities of t
    11·1 answer
  • Zanny Moldings has the following estimated costs for the upcoming year:
    11·1 answer
  • A. What is the significance of voting rights to the ordinary shareholders? What is a proxy? Why do proxy fights occur?
    13·1 answer
  • 5) Si tuvieras que hacer un presupuesto de Ingresos y uno de Gastos ¿Cuál harías primero y que te sirva de base para hacer el ot
    5·1 answer
  • A social media ad costs $2 per person reached and 60% purchase. A traditional media ad costs $0.10 per person
    10·1 answer
  • Why are business office established​
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!