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
guajiro [1.7K]
3 years ago
5

"if beginning inventory is $100,000, cost of goods purchased is $500,000, sales revenue is $1,000,000 and ending inventory is $1

30,000, how much is cost of goods sold under a periodic system?"
Business
1 answer:
Svet_ta [14]3 years ago
7 0

<u>Calculation of cost of goods sold under a periodic system:</u>


It is given that the beginning inventory is $100,000, cost of goods purchased is $500,000, and ending inventory is $130,000. The cost of goods sold can be calculated as follows:

Cost of Goods Sold = Beginning inventory + Cost of goods purchased- Ending inventory

= 100,000 + 500,000 – 130,000

= $470,000


Hence, the cost of goods sold is<u> $470,000</u>



You might be interested in
owns a Dell laptop computer. She uses the computer in class and her classmates can see the Dell logo when she uses her laptop. O
erastovalidia [21]

Complete question:

​Trudy owns a Dell laptop computer. She uses the computer in class and her classmates can see the Dell logo when she uses her laptop. One of her classmates is looking to purchase a new laptop and asks Trudy her opinion of Dell computers. Trudy informs her classmate that she is satisfied with her laptop and recommends that her classmate purchases one, too. For Dell, Trudy is exhibiting some of the benefits of _____.

a. brand recognition

b. brand equity

c. brand insistence

d. brand loyalty

e. brand mark

Answer:

For Dell, Trudy is exhibiting some of the benefits of brand loyalty .

Explanation:

Brand loyalty is described as favorable emotions towards the company and willingness to buy the same product or service consistently from the same company now and in the future, irrespective of the behavior of the rival or adjustments in the world.

Corporations spend large sums of money in customer support and promotions in order to create and retain brand awareness with the existing commodity.

Coca-Cola Corporation is an example of an established company that has culminated in consumers showing brand loyalty in light of Pepsi's beverages and advertisement campaigns over the years.

3 0
3 years ago
TB MC Qu. 1-150 Haack Inc. is a merchandising company ... Haack Inc. is a merchandising company. Last month the company's cost o
Sever21 [200]

Answer:

$87,200

Explanation:

The computation of the total amount of merchandise purchase is shown below:

As we know that

Cost of goods sold = Beginning merchandise inventory + purchase of merchandise - ending merchandise inventory

$69,400 = $11,600 +  purchase of merchandise - $29,400

$69,400 = -$17,800 + purchase of merchandise

So, purchase value of merchandise is

= $69,400 + $17,800

= $87,200

5 0
4 years ago
Eggs, toilet paper, and candy bars are examples of what kind of good?
lawyer [7]
Its convenience goods
6 0
4 years ago
Read 2 more answers
What is a sole proprietorship? A partnership? (essential elements) How is each entity taxed? What is a franchise? What is the "c
natita [175]

Answer:

........................

Explanation:

6 0
4 years ago
American Chemical Company manufactures a chemical compound that is sold for $52 per gallon. A new variant of the chemical has be
Leona [35]

Answer:

a. The total profit would be positively affected as it increases

Explanation:

1. We calculate the value of revenue per 8000 gallons with the initial chemical compound and processed into the new variant

Revenue Initial Chemical Compound= 8000 gallons X ($52/gallon)

Revenue Initial Chemical Compound=<em><u> $ 416.000</u></em>

Revenue Chemical compound processed into the new variant=8000 gallons X ($83/gallon)

Revenue Chemical compound  processed into the new variant= <u><em>$ 664.000</em></u>

2. If we consider that the other production costs will be the same for the two chemical compounds, then the only difference will be the processing cost to refine the basic compound into the new variant. For this reason, we substract only the value of processing the basic compound into the new variant for the revenue of this.

<u><em>$ 664.000 - $160.000= $504.000</em></u>

3. The benefit values for each case are:

Initial Chemical Compound: $416.000

Chemical compound  processed into the new variant: $504.000

In conclusion, greater benefit is obtained by processing the basic compound in the new variant than if the basic compound were sold only

3 0
3 years ago
Other questions:
  • When using the benefi t-cost ratio measure of worth, what benchmark is the calculated ratio compared to in determining if an ind
    11·1 answer
  • What does it mean when a job application asks for names previously used?
    11·2 answers
  • With a global strategy for conducting business internationally, a company competes primarily ________.
    12·1 answer
  • What is the difference between global trade and domestic trade?
    10·2 answers
  • EDGAR, the Electronic Data Gathering. Analysis, and Retreival system, performs automated collection, validation, indexing, accep
    7·1 answer
  • Luis is going to receive $20,000 six years from now. Soo Lee is going to receive $20,000 nine years from now. Which one of the f
    14·1 answer
  • In United States v. Butler, the Supreme Court overturned the Agricultural Adjustment Administration (AAA) because
    11·1 answer
  • Marriage between individuals who have similar social characteristics
    14·1 answer
  • Select all that apply Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a subsidiary led
    9·1 answer
  • On January 1, 2020, ABC Corporation had 990,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 n
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!