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Lubov Fominskaja [6]
3 years ago
15

The balance of the Cost of Goods Sold account at the end of the year represents:(A) The cost of inventory not sold in the curren

t year.(B) The total sales revenue to customers.(C) The cost of inventory sold in the current year.(D) Total purchases of inventory for the year.
Business
1 answer:
kap26 [50]3 years ago
6 0

Answer:

The balance of the Cost of Goods Sold account at the end of the year represents the cost of inventory sold in the current year.

Explanation:

The Cost of Goods Sold account is debited at each sale for the cost of the product sold, so at the end of the year you will have the cost of all products sold during the year.  This cost includes the cost of the direct materials and the direct labor costs used to produce them.

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4 years ago
Is it recommended to skip performing the risk identification on a project? Why not? What is likely to
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It is not recommended to skip performing the risk identification on a project. If this process is skipped, the organization might run into unforeseen dangers that will stall their projects and prevent them from reaching their objectives.

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6 0
1 year ago
Suppose your bank account pays interest monthly with an effective annual rate of 6%. What amount of interest will you earn each m
Bess [88]

Answer:

0.4868%

$615.47

Explanation:

Given that

a. EAR = 6%

Thus,

Equivalent monthly rate = (1 + r)^n - 1

Where r = EAR

Therefore

= (1 + 0.06)^1/12 - 1

= 1.0048675 - 1

= 0.0048675 × 100

= 0.4868%

b. Given that

Monthly rate = 0.4868%

Future value = 100,000

Time = 10 years

Recall that

FV annuity formula = C × (1/r) × ([1 + r ]^n - 1)

Where

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Therefore

100000 = C (1/0.004868) × ([1 + 0.004868]^120 - 1)

C = 100,000/(1/0.004868) × ([1 + 0.004868]^120 - 1)

C = $615.47 per month

4 0
3 years ago
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DiKsa [7]

Answer:

The correct answer is letter "C": diseconomies of scale.

Explanation:

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3 years ago
The Federal Reserve Act Multiple Choice helped to reduce loans to private banks. was regulated by a board whose members were ele
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3 years ago
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