Answer:
C) $22,727.
Explanation:
to calculate the 2019 layer, I will first determine the value of the 2019 inventory using LIFO:
(2018 inventory / 2018 price index) + (2019 inventory - 2018 inventory) = ($300,000 / 1.1) + ($350,000 - $300,000) = $272,727 + $50,000 = $322,727
to determine the LIFO layer = adjusted 2019 inventory - 2018 inventory = $322,727 - $300,000 = $22,727
The LIFO layer represents the difference in cost of goods sold from the ending of one year to the next year.
Answer:
The amount of account payable on October 31, 2015 would be $25,000.
Explanation:
Given information -
Opening account payable balance on October 1 - $40,000
Purchase made in the month of October is - $33,000
Now by adding both the opening balance and purchase , we will get the total amount to be payable for the month of October,
$40,000 + $33,000
= $73,000
Now it is given that Padilla industries have made some payments on account - $48,000
Subtracting this amount paid from total account payable , we will get how much amount is left to be paid in October ( 31 )
$73,000 - $48,000
= $25,000
Answer:
b) a market opportunity
Explanation:
Based on the information provided within the question it can be said that the creation of these departments was a result of a market opportunity. This term refers to a specific need that arises for the product or service that you are providing in a specific location or to an individual/company. Which is what happened in this situation as an increase in demand for organic food gave Webmans Inc. the opportunity to enter that market and answer that demand by creating organic food departments within their large stores.
Answer:
The effective rate of protection for Canada’s steel industry is 21%
Explanation:
The computation of the effective rate is shown below:
Steel percentage = (Production worth of steel) ÷ (Taconite worth)
= ($1,000,000) ÷ ($100,000)
= 10%
And the tariff rate for steel is 20%
And the taconite percentage is 10%
So, the effective rate would be equal to
= Tariff rate for steel + taconite percentage × steel percentage
= 20% + 10% × 10%
= 20% + 1%
= 21%
Answer:
the quick ratio is 1.4 times
Explanation:
The computation of the quick ratio is given below:
Quick ratio is
= (Cash + Accounts receivables) ÷Current liabilities
= ($120,000 + $80,000) ÷ $140,000
= 1.4 times
hence, the quick ratio is 1.4 times
The same should be considered and relevant
