Are consumers only interested in making themselves as well off as possible in a material sense? consumers are

On January 1, 2021, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method. Beginning inventory at cost

yaroslaw [1]

Inventory value of Cold stone Corporation as on 31/12/2021 is $ 58,600 at cost value and $61,530 at retail value

Explanation:

In the United Kingdom, Retail price index is a measure of inflation published monthly by the Office for National Statistics. It measures the change in the cost of a representative sample of retail goods and services.

LIFO - last in first out method .,means the inventory purchased in last will be sold first.

opening inventory and closing inventory always calculated at cost price only

Cost of sales = sales- markup

= $846,000 - $11,000 = $835,000

Closing inventory value

= cost of sales - purchases - opening inventory

= $835,000 - $693,600 = $141,400 - $200,000 =$ 58,600

$= $835,000 - $693,600 = $141,400 - $200,000 =$ 58,600$

Retail value of inventory on 31/12/2021

= $ 58,600×1.05= $61,530

$= $ 58,600×1.05= $61,530$

3 0

3 years ago

Statement: In advance of severe flooding, there is a need to get generators and communications equipment to the Staging Areas to

OLga [1]

Answer:

3) Logistics Chief

Explanation:

Following NIMS guidelines, logistics in responsible for providing all the service and support needs including:

essential personnel, equipment, and supplies
communication planning and resources
food services
incident facilities
transportation
medical services to incident personnel

In a more general sense, logistics refers to providing the necessary methods for transporting resources.

4 0

3 years ago

American General Company experienced the following accounting events during 2014:

12345 [234]

Answer:

1. Operating Activities (OA)

2. Financing Activities (FA)

3. Financing Activities (FA)

4. Investing Activities (IA)

5. Operating Activities (OA)

6. Operating Activities (OA)

7. Investing Activities (IA)

8. Financing Activities (FA)

9. Not applicable (NA)

10. Financing Activities (FA)

Explanation:

Statement of cash flows is one of the three major financial statements. The statement analyses the cash generated and cash expended by an entity in a given period. The statement collates the analysis under three categories

1. Operating Activities

2.Investing Activities

3.Financing Activities

Operating activities comprise of cash generated and expended by the entity on its normal business operation during the period. Examples of this are cash received from customers, cash paid to suppliers, rent paid to landlord, cash expenses paid etc.

Investing activities consist of cash activities involving acquisition and disposal of assets and investment. Examples of such are cash receipt from sales of equipment, cash spent on purchase of investment securities.

Financing activities are cash activities involving the entity and provider of capital, equity owner and debt holder. Example of such activities are cash generated from issuance of bond, cash dividend paid to equity owner.

4 0

4 years ago

In the current period, Forward Co. started with the production of 21,000 units and completed 8,400 units, leaving 13,200 units i

____ [38]

Answer:

$2.51 per unit

Explanation:

The computation of the cost per equivalent unit is shown below:

But before that the equivalent units is to be computed

Equivalent units = units completed + equivalents units in ending inventory

= 8,400 units + (13,200 units × 42%)

= 13,944 units

Now

Cost per equivalent unit = cost incurred ÷ equivalent units

= $34,980 ÷ 13,944 units

= $2.51 per unit

4 0

4 years ago

Third State Bank wants to add a new branch office. It has determined that the cost of construction of the new facility will be $

Gnesinka [82]

Answer:

$298,206

Explanation:

The computation of the Net present value is shown below

= Present value of all yearly cash inflows after applying discount factor + salvage value - initial investment

where,

The Initial investment is $1,500,000

All yearly cash flows would be

= Annual net operating cash inflows × PVIFA for 20 years at 17%

= $319,522 × 5.6278

= $1,798,206

Refer to the PVIFA table

Now put these values to the above formula

So, the value would equal to

= $1,798,206 - $1,500,000

= $298,206

8 0

4 years ago

Are consumers only interested in making themselves as well off as possible in a material​ sense? consumers are

Are consumers only interested in making themselves as well off as possible in a material sense? consumers are