Answer: $4,950
Explanation:
If the company is using the First In First Out method for Inventory valuation then the earlier inventory is sold off first which would mean that the inventory at year end will be the more recent inventory.
The 25 units at the end of the year will be the most recent units purchased and so will be;
20 units from the third purchase
5 units from the 2nd purchase
Inventory value = (20 * 195) + ( 5 * 210)
= $4,950
<em>The options are not for this question. </em>
Answer:
The answer is Company & Financials> Reports Center > Accountant & Taxes
Explanation:
Solution
Given:
From the given question above the steps to print the Adjusted Trial Balance is given below:
- First step is to go the Report Center and select the same
- Secondly go to accountant and taxes and select that option
- Thirdly the trial balance option
Therefore, the correct answer is Report center > Accountant and Taxes
Answer:
Food is more profitable
Explanation:
The formula for calculating the gross margin ratio is as below.
Gross margin ratio= gross profit/ net sales.
Therefore, gross profit= net sales x gross profit ratio
in this case:
The gross profit ratio is 67%
gross profits from food sales
=1200 x (67/100)
=$804
Gross profit from beverages
=$800 x ( 67 /100)
=$536
Gross profit from food sales is higher than that of beverages
Food is more profitable
A.
The cheese and crackers that are being consumed
by Carlos is not considered to be inferior goods because when there is a time
that his income may rise, he will likely consume other products aside from it.
B.
If the price of the cheese falls, what will
likely happen is that there will be a presence of substitution effect of where
the crackers will be fewer consumed and the cheese will be consumed more. When
there is a presence of income effect on the other hand, the cheese will be
consumed more as this will be considered as a good that is normal and the
crackers to be consumed fewer as this will be classified as an inferior good. The
likely outcome of it in both scenarios, Carlos will still consume fewer
crackers and the cheese to be more consumed.
Answer: 27%
Explanation:
The Average rate of return is calculated by;
= Estimated Average Annual income / Average Investment
Estimated Average annual income = Total income/ years income is accrued
= 402,300/5
= $80,460
Average Investment = (Initial cost + Residual value) / 2
= (524,500 + 71,500) / 2
= $298,000
Average rate of return = 80,460/298,000
= 0.27
= 27%
