Answer:
The cost of goods sold is $2950
Explanation:
The specific identification method requires the cost of inventory to be calculated using the actual cost at which the inventory is bought and recorded.
The cost of goods sold will be the cost of tv's that are sold during June. One tv that was sold with serial no 11534894 belonged to the TVs having cost of $1500. The other that was sold belonged to the cost group of $1450 per TV (serial no 11542631).
Thus cost of goods sold will be = 1500 + 1450 = $2950
It is known as lateral transfer.
A transfer is a horizontal or lateral movement of a person from one job, section, department, shift, plant, or position to another in the same or another location with the same wage, status, and responsibilities.
A lateral move is a job movement in which a person transfers from one position to the another with minimal change in compensation, title, or level. However, even if you do not receive a promotion, a lateral transfer does not guarantee that one will not gain the new experiences or develop new abilities.
Therefore, the answer is lateral transfer.
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Answer:
Gain= $400,600
Explanation:
<u>First, we need to calculate the book value of the building:</u>
Book value= purchase price - accumulated depreciation
Book value= 599,900 - 200,300
Book value= $399,600
<u>If the selling price is higher than the book value, the company gain from the sale.</u>
Gain/loss= selling price - book value
Gain/loss= 800,200 - 399,600
Gain= $400,600
