<u>Solution and Explanation:</u>
<u>Cost of goods sold section :</u>
Beginning inventory, September 1, 2013 24350
Purchase 203160
Less: Purchase return and allowance -8250
Net purchase 194910
Add: Freight in 9080
Cost of goods purchased 203990
Cost of goods available for sale 228340
Less: Inventory august 31,2014 -24300
Cost of goods sold 204040
<u>Note: N</u>et purchases are calculated after deducting purchase return and allowances from the purchase. For calculating the cost of goods purchased, freight in is to be added.
propertyIsEnumerable() The propertyIsEnumerable() method returns a Boolean telling if the specific property is enumerable and is the object's own property.
Enumerable properties are those with an internal enumerable flag set to true, which is the default for properties created through simple assignment or a property initializer. Object-defined properties, such as defineProperty, are not enumerable by default.
We must use the Object. defineProperty() method to create a non-enumerable property. This is a special method for creating objects with non-enumerable properties.
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Considering the situation described above, if country A has a comparative advantage in producing good X over country B, then: <u>the domestic opportunity cost of producing X in country A is lower than in country B.</u>
<h3>What is Opportunity Cost?</h3>
Opportunity cost is often used in economics to describe the profit lost when one choice or option is taken over another.
<h3>What is Comparative Advantage?</h3>
Comparative Advantage is the term used to describe the economy's capacity to produce a specific good or service at a lower opportunity cost than its trading competitors.
Therefore, given that country A has a comparative advantage in producing good X over country B, this equates to country A having a lower opportunity cost than country B.
Hence, in this case, it is concluded that the correct answer is option C.
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Answer:
Explanation:
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Answer:
Multiple-step income statement for the year ending December 31, year 1
Sales $275,200
Cost of Goods Sold <u>($185,000)</u>
Gross Profit $90,200
Operating Expenses:
Administrative Expense ($35,000)
Selling expenses <u>($55,000)</u>
General Expense <u>($45,000)</u>
Operating Income ($44,800)
Non-Operating Revenue <u>$105,000</u>
Operating Income before tax $60,200
Income taxes <u>($25,000)</u>
Operating Income after Tax <u>$35,200</u>
Explanation:
Multi-step Income statement segregate the Operating Income and Expenses from non operating Income and Expense. It shows the gross profit and net operating income separately.