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spin [16.1K]
3 years ago
15

Using the information below, calculate cost of goods sold for the period: Sales revenues for the period$1,312,000 Operating expe

nses for the period 247,000 Finished Goods Inventory, January 1 44,000 Finished Goods Inventory, December 31 49,000 Cost of goods manufactured for the period 548,000
Business
1 answer:
nikitadnepr [17]3 years ago
5 0

Answer:

COGS= $543,000

Explanation:

Giving the following information:

Cost of goods manufactured for the period 548,000

Finished Goods Inventory, January 1 44,000

Finished Goods Inventory, December 31 49,000

<u>To calculate the cost of goods sold (COGS), we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 44,000 + 548,000 - 49,000

COGS= $543,000

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Answer:

How does the price range affect the elasticity of demand for a product?

Demand for all goods is elastic if the price is low enough.

Price range has little or no effect on elasticity of demand for a good.

Demand for a good can be inelastic at a low price, but elastic at a high price.

Demand for a good can be elastic at a low price but inelastic at a high price.

Explanation:

How does the price range affect the elasticity of demand for a product?

Demand for all goods is elastic if the price is low enough.

Price range has little or no effect on elasticity of demand for a good.

Demand for a good can be inelastic at a low price, but elastic at a high price.

Demand for a good can be elastic at a low price but inelastic at a high price.

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A thearter is kept open for an advertisement to allow people to view or have an idea of the movies to be shown in the evening.

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Business strategy is a list of actions and decisions made by a company or organization to reach its goals and objectives.

Opening theater in the afternoon is a business strategy and it is an approach to create awareness of what their programs will be.

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The figure shows the supply and demand for online music. Suppose that an economic downturn decreases household wealth and erodes
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