Answer:
C) $14,693
Explanation:
Compound interest considers the return on investment (or interest) to be reinvested and provides return as well. Future value of principal value considering compound interest can be determined by below formula:
where
is the future value
is the principal amount invested
is the rate of interest
is the number of times interest is compounded within one time period
is the number of time periods
Answer:
Yes, this is an increase in demand
Explanation:
Demand increased from 10 watches per week to 35 watches per week.
This is an increase in demand and it was induced by the drop in price from $75 to $50.
Consumers tend to buy more at lower price and tend to reduce their demand at higher price. This is the law demand.
Higher price reduces consumers' purchasing power.
Inventory costing methods rely heavily on assumptions about the flow of costs. The most widely used inventory valuation method is the FIFO method.
FIFO (First-In, First-Out), LIFO (Last-In, First-Out), Specific Identification, and Weighted Average Cost are the 4 major Inventory costing methods. If your inventory costs are steady or increasing, LIFO is the better option. Businesses with bigger inventories and rising costs appreciate how LIFO reduces profits and taxes while increasing cash flow. If your inventory costs are decreasing, FIFO is the better option.
Learn more on Inventory costing methods-
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Answer:
A. Debiting Cost of Goods Sold $7,000
Explanation:
The LIFO is a method used to account value for inventory. Under the method, the last item of inventory purchased is the first one sold.
At year-end, the perpetual inventory records of Anderson Co. indicate 60 units of a particular product in inventory, but a physical inventory taken at year-end indicates only 50 units of this product actually are on hand. So 10 units of the product was shrinkage.
The company should debit Cost of Goods Sold to record this inventory shrinkage.
Anderson Co. use LIFO method, the amount shrinkage product:
10 x $700 = $7,000
1. Annual percentage rate
2. Secured card
3. Cash advance
4. Balance transfer
I hope this helps!
