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
horrorfan [7]
3 years ago
14

At the beginning of the current accounting period Blazer Company had a $40,000 balance in its Finished Goods Inventory account.

During the period cost of goods manufactured amounted to $280,000. The ending balance in the Finished Goods Inventory account was $42,000. Based on this Information the amount of cost of goods sold is
a. $278000
b. $280000
c. $282000,
d. The answer cannot be determined from the information pro
Business
1 answer:
Salsk061 [2.6K]3 years ago
4 0

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Beginning finished goods inventory= $40,000

During the period cost of goods manufactured amounted to $280,000. The ending balance in the Finished Goods Inventory account was $42,000.

To calculate the cost of goods sold, we need to use the following formula:

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

COGS= 40,000 + 280,000 - 42,000

COGS= 278,000

You might be interested in
The value of what you owe minus what you owe is called
aliina [53]
Hey there!

I think you meant to type "value of what you <em>own</em> minus what you owe". Let me know if this assumption isn't correct, though I don't know what the value of what you owe is besides... ya know, what you owe. 

The value of what you own is called you assets. This can include anything of value that you own, particularly your pricier possessions. Think of a vintage family heirloom or a highly–priced article of clothing. Assets, though, includes the value <em>everything</em> that you own that you could possibly put a price tag on if you were certain someone would buy it. 

What you owe is called your liability. This is basically any debt that you owe anyone, whether it be your buddy who footed your lunch bill the other day when you didn't have enough cash or a student loan you used to pay for college. 

Your assets minus your liability is called your net worth. This is basically what you are worth in total. This makes sense, since any debt you owe will be taken out of the amount that you are worth or any money that you have.

Net worth will be your answer. 

Hope this helped you out! :-)
4 0
3 years ago
Below is a demand curve for DVDs for a monopoly currently producing at point
Finger [1]
The decrease is a simple 2 dollars that is easy to find out. The demand is decreasing, as is the price to keep the demand atleast a bit steady. The decrease is a 12.5% of the total cash recieved.
4 0
3 years ago
Read 2 more answers
Suppose an economist argues that it would be fairer if everyone in society had to pay the same portion of their income in taxes
nata0808 [166]

Answer:

Proportional Tax

Explanation:

A proportional tax imposes the same flat rate (in %) on income as payable tax.

Other types of taxes are Progressive and Regressive Tax. In progressive, the higher you earn, the higher tax you pay while in Regressive, the higher you earn, the lower income tax paid and vice versa.

8 0
3 years ago
Art invested $100 two years ago at 8 percent interest. The first year, he earned $8 interest on his $100 investment. He reinvest
nikitadnepr [17]

Answer:

Option 4- Interest on Interest

Explanation:

Look we earned $8 in the first year which we invested in the same business. Okay now we again earned 8% on this $100 and $8 invested in the second year. The 8% on the $8 is $0.64 which is the interest earned on the interest invested in the previous year.

4 0
3 years ago
Transactions and events during 2021 (summarized in thousands of dollars) follow:
Sholpan [36]
The anwser to this question is b. prepare the statement of the retained earnings
8 0
2 years ago
Other questions:
  • A bond will pay $80 in interest at the end of each of the next three years, plus $1,000 at the end of the third year. If it has
    12·1 answer
  • Job 593 was recently completed. The following data have been recorded on its job cost sheet:
    8·1 answer
  • Select the correct answers from the drop-down menus,
    8·1 answer
  • If an investor's holding period is longer than the term to maturity of a bond, he or she is exposed to___________ A) interest-ra
    10·1 answer
  • Determine the amount to post to the Cash T-account. Event Debit/Credit Purchase equipment by signing a note with the bank for $2
    5·1 answer
  • MacKenzie Company sold $180 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4% servic
    8·2 answers
  • Ballooshu, a large dairy cooperative, organizes its labor force into different divisions for the manufacture of butter, cheese,
    7·1 answer
  • What was a result of the Mexican-American War
    14·2 answers
  • 20. An emergency operations plan: A. Focuses on standard operating procedures for responding to one single type of incident. B.
    14·1 answer
  • Both product development strategies and diversification strategies involve ________. A. leaving the current market selling a com
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!