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3 years ago

On the basis of the following data, what is the estimated cost of the merchandise inventory on May 31 using the retail method?

Business

1 answer:

Misha Larkins [42]3 years ago

3 0

Answer: The ending inventory is $43,500

Explanation:

Cost. Retail

$ $

Beginning inventory. 125,000 166,667

Add :Purchases 235,000 313,333

-------------------- -----------------------

Cost of good available for sale 360,000 480,000

Cost to retail ratio

360,000 ÷ 480,000

= 0.75

Cost. Retail

$ $

Cost of good available for sale 360,000 480,000

Less:Sales. 230,000 250,000

360,000. 172,500

187,500

-------------------- ----------------

(417,500) 58,000

Ending inventory × 0.75 (58,000 × 0.75) = 43,500

Cost to retail ratio.

Ending inventory. $43,500

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3 years ago

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2 years ago

an investor currently has 40,000 portfolio 40% of which is invested in bonds the investor wishes to add funds to the portfolio b

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Answer:

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Explanation:

Step 1: Determine current value of portfolio and bonds

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Final value of bonds=current value of bonds+added value of bonds

where;

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added value of bonds=X

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replacing;

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Step 3: Solve for X

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where;

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