Jack manages an upscale French restaurant in the Washington, DC, area. His restaurant offers a few specials each evening in addi
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Answer:
The amount of tax will be $3
Tax Burden on consumer is $2
Tax burden on producer ( in case you want to know) will be $1
Check the image below.
Tax is equal to the difference between the price actually paid by the buyer and the price actually received by the seller. Tax= Price paid by buyer-Price received by seller Tax= $8-$5 Tax = $3 Thus the tax computed is $3 per case.
Answer:
The amount of tax will be $3
Tax Burden on consumer is $2
Tax burden on producer ( in case you want to know) will be $1
Check the image below.
Tax is equal to the difference between the price actually paid by the buyer and the price actually received by the seller. Tax= Price paid by buyer-Price received by seller Tax= $8-$5 Tax = $3 Thus the tax computed is $3 per case.
Answer:
Cost of Good Sold Using Fifo $40,570
Ending inventory using Fifo $3,600
Ending inventory Using Specific Identification can not be calculated as the total sales (555) exceeds the available inventory (510)
Explanation:
