Explanation:
Challenge 1: Changes in how buyers buy.
Challenge 2: Competition.
Challenge 3: Need for top talent.
Challenge 4: Competing on price only.
Answer:
73,450 COGS
Explanation:
From the beginning inventory we add up purchase and freight cost and subtract the return made to the suplier and discount and allowance granted.
This will be the total cost available for sale.
Then we subtract the ending inventory to get the COGS
27,000 beginning inventory
+ 78,000 purchases
+ 350 freight-in
- 3,900 return and allowance
<u>- 6,000 </u>discount
95,450 good available for sale
<u>- 22,000 </u>ending inventory
73,450 COGS
The sales return impact the sales revenue not the COGS
1.) Watch the news and find out a problem that everyone needs the solution to like a geologist national research business. Or something people don't have a specific catagory for or is in the random stuff cabinet
2.) Think about it and see what you can do to make it spectacular.
3.) Think of a name for it.
4.) Get it pattened (I don't know how to spell it sorry)
5.) Make a card for it and tell people about it. For the child abuse example. (Sprinkle a little dramatic facts then tell them what you do to help stop that just to get people intrested and wanting to help.)
6.) Then you can take it from there to get more and more people into your business.
To number 5, I forgot what that trick is but it is when you scare someone by something you told them then dis alarming them by telling the good side. You can basically get anyone to do or say yes to anything you want.
And you can use my geologist catagory idea because these days they really need them. Also my mom said that if your in college and you study for the geologist requirments thing ( I don't know what they call them I think coarses)
They pay you even when your not finished college just to work for them and she also stated why else would they randomly add geology in schools now and they make pretty good money!
Sorry for it being so long but I get excited over the smallest thing and I hope I helped you lots!! And Gooood Luck!!!
When solving for the gross profit on a product use:
Gross profit = Sales - Cost of goods sold
Sales = $814,000
Cost of goods sold = $386,650
Gross profit = $814,000 - $386,650
Gross profit = $445,350
