Answer:
$6,734
Explanation:
On December 31, there were 46 units remaining in ending inventory.
These 46 units consisted of
6 from January x $123 = 738
8 from February x $133 = 1064
10 from May x $143 = 1430
8 from September x $153 = 1224
14 from November x $163 = 2282
Using the specific identification method, the cost of the ending inventory is: 734 + 1064 + 1430 + 1224 + 2282 = $6734
Answer: See explanation
Explanation:
The missing amounts are gotten below:
Sales revenue:
May company = 90,000
Reed company = 107,000
Sales returns
May company = 300
Reed company = 5,000
Net sales
May company = 87,000
Reed company = 102,000
Cost of goods sold
May company = 56,000
Reed company = 60,500
Gross profit
May company = 31,000
Reed company = 41,500
Operating expenses
May company = 15,000
Reed company = 26,500
Net income
May company = 16,000
Reed company = 15,000
Then, the gross profit rate would be calculated as:
= Gross Profit/Net sales
For May company, this will be:
= 31,000/87,000
= 0.36
= 35.6%
For Reed company, this will be:
= 41,500/102,000
= 0.47
= 40.7%
Note that some of the formula used to solve the above question include the net sales which is the difference between the sales and sales return.
Gross profit is the difference between the net sales and the cost of the goods sold
Net income is the difference between the gross profit and the operating expenses
Answer:
The two assumptions are as <em>resources must also be heterogeneous and immobile.</em>
Explanation:
The two critical assumptions of Resource Based View are <em>that resources must also be heterogeneous and immobile.</em>
Heterogeneous. <em>The first assumption is that skills, capabilities and other resources that organizations possess differ from one company to another.</em>
Immobile. <em>The second assumption of RBV is that resources are not mobile and do not move from company to company, at least in short-run.</em>
Answer:
($35 million + $12 million) / $70 million = 0.6714
Explanation:
Answer:
skimming prices
Explanation:
Based on the scenario being described it can be said that it can be concluded that Timber Guitars has adopted the strategy of skimming prices. This is a a pricing strategy in which a company or marketer sets a relatively high starting price for their products in the beginning of introducing it into the market, then only after some time has passed do they begin to lower prices slowly. Which is what Timber Guitars has done by placing the guitar at a very high price and only lowering it after a good quantity were sold.