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
Sidana [21]
3 years ago
14

At the beginning of the year, Uptown Athletic had an inventory of $400,000. During the year, the company purchased goods costing

$1,500,000. If Uptown Athletic reported ending inventory of $500,000 and sales of $2,000,000, their cost of goods sold and gross profit rate would be a. $1,000,000 and 70%. b. $1,400,000 and 30%. c. $1,000,000 and 30%. d. $1,400,000 and 70%.
Business
1 answer:
Zanzabum3 years ago
5 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Uptown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,500,000. If Uptown Athletic reported ending inventory of $500,000 and sales of $2,000,000.

Cost of goods sold= beginning inventory + purchase - ending inventory

COGS= 400,000 + 1,500,000 - 500,000= 1,400,000

Sales= 2,000,000

COGS= 1,400,000

Gross profit= 600,000 30%

You might be interested in
The purchase of new car is included in: investment expenditure consumption expenditure on services consumption expenditure on no
dimaraw [331]

Answer:

Consumption expenditure on durable goods

Explanation:

Consumption expenditure includes expenditure on goods which are used for final consumption by households. This can be further classified into,

i) Expenditure on durable goods that is goods that can be used over a longer life span such as cars, furniture, refrigerator, etc

ii) Expenditure on non-durable goods that are goods that have a short-life span and thus must be stored for a longer time such as food, clothing, etc

iii) Expenditure on services  such as banking, insurance, traveling, etc

Thus, purchase of a new car is included in consumption expenditure on durable goods.  

3 0
2 years ago
The government's too-big-to-fail policy applies to: Group of answer choices large corporate payroll accounts held by some banks
gtnhenbr [62]

Answer:

large banks whose failure would start a widespread panic in the financial system.

Explanation:

A bank run can be defined as a situation where bank clients or depositors make withdrawals of their money simultaneously from banks as a result of being scared or afraid the depository institution will run out of cash (bankruptcy) and become insolvent.

In order to counter the problem with bank runs, the Federal Deposit Insurance Corporation (FDIC) was established on the 16th of June, 1933.

Furthermore, to avoid bank runs or other financial institutions from being insolvent, the Federal Reserve (Fed) and Central banks (lender of last resort) are readily accessible and available to give monetary funds to these institutions when they're running out of money and as well as regulate their activities.

Hence, the government's too-big-to-fail policy applies to large banks whose failure would start a widespread panic in the financial system.

3 0
3 years ago
Neighbors Bicycles needed more bicycle seats. It decided to order gel seats in addition to the traditional seats it had always o
Eva8 [605]

Answer:

The answer is: Modified rebuy

Explanation:

A modified rebuy happens when a company (or an individual consumer) will buy a product or service which it has already purchased in the past. But now the company wants to change either the supplier, the product's specifications (e.g. gel seats) or the terms of the sale.

7 0
3 years ago
The Sales Operations team notices an increase in Opportunities without Products. Which configuration change should the System Ad
natita [175]

The configuration change will enable the System Administrator to help the Sales Reps remember is to enable the opportunity setting to prompt users to add products to opportunities.

<h3>What is a configuration change?</h3>

In a system, a configuration change is said to occur when one modify a component information that is subject to change control.

In conclusuin, the configuration change will enable the System Administrator to help the Sales Reps remember is to enable the opportunity setting to prompt users to add products to opportunities.

Read more about System Administrator

<em>brainly.com/question/14364696</em>

7 0
2 years ago
A company forecasts free cash flow in next year to be $20 million, $25 million in second year, and 30 million in third year. Aft
Norma-Jean [14]

Answer:

Current value from operations is $534.71 million.

Explanation:

The value from operations can be calculated by discounting back the free cash flow of the firm. The first three year's FCF will be discounted back using the WACC and when the growth rate o FCF becomes constant after Year 3, the terminal value will be calculated and discounted back too.

The current value from operations = FCF1 / (1+WACC) + FCF2 / (1+WACC)² + FCF3 / (1+WACC)³  +  [FCF3 * (1+g)  /  WACC - g] / (1+WACC)³

Current value from operations = 20 / (1+0.1)  +  25 / (1+0.1)²  +  30 / (1+0.1)³  +  [30 * (1+0.05) / (0.1 - 0.05)] / (1+0.1)³

Current value from operations = $534.71 million

8 0
3 years ago
Read 2 more answers
Other questions:
  • Which potential stakeholders are a list in Proctor and Gamble’s purpose statement
    13·1 answer
  • N article published in the washington post claims that 45 percent of all americans have brown eyes. a random sample of n=78 coll
    15·1 answer
  • Which of the following items should be included in a company's inventory at the balance sheet date? A) Goods sold to a customer
    6·2 answers
  • Vertical integration is a strategy in which a company expands backwards into an industry that provides outputs for its products.
    11·1 answer
  • If bonds are issued at 101.25, this means that ____________________
    15·1 answer
  • The rapid growth of the Chinese economy should benefit U.S. consumers as they have access to less-expensive consumer goods. make
    15·1 answer
  • The following is a December 31, 2021, post-closing trial balance for Almway Corporation.
    7·1 answer
  • Without the Gramm-Leach-Bliley Act, Bank of America would more than likely _____.
    5·1 answer
  • Help me please i need it​
    7·2 answers
  • What is the term for the level of output at which the sales revenue of the firm just covers the fixed and variable costs includi
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!