1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MakcuM [25]
3 years ago
15

Baxter Company's merchandise inventory at the start of 2014 was $85,000. The company purchased inventory during 2014 in the amou

nt of $323,000, and its inventory at the end of the year was $102,000. What was Baxter's Cost of Goods Sold for 2014?
Business
1 answer:
11Alexandr11 [23.1K]3 years ago
7 0

Answer:

$306,000

Explanation:

The formula and the computation of the cost of good sold is shown below:

Cost of goods sold = Opening balance of merchandise inventory + Purchase made  - ending balance of merchandise inventory

= $85,000 + $323,000 - $102,000

= $306,000

Basically we have applied the above formula to find out the cost of goods sold

You might be interested in
Your job is on the cash register at the check-out counter. an impatient customer jumps ahead of several customers already waitin
a_sh-v [17]
The best thing to do in this situation is to ask the customer who is impatient to wait in line, it is best to inform the customer in a calm and professional manner to prevent conflict or misunderstandings to arise. It is also best to explain why the customer should wait in line for all other customers are waiting patiently to get their turn. It is only appropriate to follow the rules in order to prevent misunderstandings from happening.
5 0
3 years ago
Fishwick Enterprises has 200,000 shares outstanding, half of which are owned by Jennifer Fishwick and half by her cousin. The tw
Ivahew [28]

Answer:

A. 20%

B.$4,000000

C. 62,500

D. $6,500,000

E $1,500,000

Explanation:

3 0
3 years ago
Crane Company purchased land as a factory site for $1300000. Crane paid $110000 to tear down two buildings on the land. Salvage
Marizza181 [45]

Answer:

a. $‭1,420,000‬

b.  $‭4,514,800‬

Explanation:

When it comes to fixed assets, all costs that directly helped make the asset available for use are to be capitalized.

Cost of Land

= Purchase Value + Cost Incurred to Tear Down 2 Buildings + Legal Fees + Title Insurance Cost + Assessment Cost - Salvage

= 1,300,000 + 110,000 + 5,000 + 3,500 + 9,500 - 8,000

= $‭1,420,000‬

Cost of Building

= Architect's Fees + Liability Insurance Cost + Excavation Cost + Contractor's Payment + Interest Cost

= 46,000 + 3,800 + 15,000 + 4,200,000 + 250,000

= $‭4,514,800‬

4 0
3 years ago
Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information f
dmitriy555 [2]
The answer is a , make sure you pick that oneb
7 0
3 years ago
You want to have $18,000 in 9 years for a dream vacation. If you can earn an interest rate of .5 percent per month, how much wil
stiks02 [169]

Answer:

$10,503.59

Explanation:

This question requires us to find how much you have to deposit today if:

Fv = 18,000

Time = 9 years

PV= fv/(1 + i)^n

N = 9 X 12 = 108

I/y = 0.5%

PV = $18,000 / 1.005^108

= $10,503.59

Therefore what you have to deposit today is $10,503.59

5 0
3 years ago
Other questions:
  • After making a sale, a seller may have customers that return goods. The seller uses the perpetual inventory system. This require
    7·1 answer
  • Diego is in the Strange Situation with his caregiver; he explores the room and examines the toys that have been placed in it. He
    7·1 answer
  • When XYZ firm entered the market for good A two years​ back, it kept the price of its product low to attract customers away from
    13·1 answer
  • How is it possible to have a large amount of assets but only modest net worth?
    14·1 answer
  • On june 8, smith technologies issued a $75,000, 6%, 140-day note payable to johnson company. what is the due date of the note?
    8·2 answers
  • Refer to the data for Best Bagels, Inc. (BB). BB is considering moving to a capital structure that is comprised of 20% debt and
    11·1 answer
  • The following inventory information was taken from the records of Kleinfeld Inc.: Historical cost $12,000 Replacement cost $7,00
    12·1 answer
  • During the maturity stage of the product life cycle, the: a.number of new firms producing the current product increases. b.produ
    6·2 answers
  • ____ is not a physical work environment characteristic.
    6·1 answer
  • What are cost drivers for airlines?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!