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
mezya [45]
3 years ago
5

A company's beginning inventory is $2,000 and its ending inventory is $1,000. The inventory turnover is 6 times. Cost of goods s

old for the year must equal____________.
Business
1 answer:
Alekssandra [29.7K]3 years ago
5 0

Answer:

$9,000

Explanation:

The formula to compute the inventory turnover ratio is shown below:

Inventory turnover ratio = Cost of goods sold ÷ average inventory

where,  

Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2

= ($2,000 + $1,000) ÷ 2

= $1,500

So, the cost of goods sold is

6 times = Cost of goods sold ÷ $1,500

So, the cost of goods sold is $9,000

You might be interested in
as consumer demand for new cars increases, tire makers and steel and aluminum suppliers may experience an increase in demand for
Archy [21]

The increase in demand for tire makers, steel and aluminium suppliers is an example of derived demand.

Derived demand is the demand for a good or service as a result of an increase in the demand for another good or service. Labour and raw materials usually have a derived demand.

As the demand for new cars increase, car makers would want to produce more cars in order to meet the increased demand. This would lead to an increase in the raw materials and labour that is needed to make more cars. On the other hand, if there is a decrease in the demand for new cars, there would also be a decrease in the demand for the raw materials and labour that is needed to make more cars.

A similar question was answered here: brainly.com/question/14010943?referrer=searchResults

8 0
3 years ago
"Much of the information that allows decision makers to run their organizations effectively in the digital age comes to them in
Alenkasestr [34]

Answer:

The correct answer is letter "B": reports.

Explanation:

Financial reports are the accounting statements managers request to find out what the performance of the company is. Based on that information that could be digitally formatted, top executives can decide what course the firm should take. If the current strategy is not working as expected, adjustments could be made or new strategies can be adopted to run the business effectively.

3 0
3 years ago
Read 2 more answers
According to the World Banks's world development indicators, real gross domestic product (GDP) in sub-Saharan Africa in 2015 was
vovangra [49]

Answer:

0.12%

Explanation:

According to the given situation, the computation of E.U. emergency trust fund as a percentage of sub-Saharan GDP is shown below:-

E.U. emergency trust fund as a percentage of sub-Saharan GDP is

= (Amount of Plans ÷ Real gross domestic product) × 100

= (2 billion ÷ 1.65 trillion) × 100

= 0.12%

Therefore for computing the E.U. emergency trust fund as a percentage of sub-Saharan GDP we simply applied the above formula.

6 0
3 years ago
In the last two years, BMW AG, the Bavarian auto maker, has developed a car made primarily from carbon-fibers that is not only l
Elis [28]

The new manufacturing plant of BMW vehicles will be engaged in the process of mass production.        

<h3>What is mass production?</h3>

The process of production, wherein a large proportion of goods or inventories are produced by a business organization to reduce the costs of production, is known as mass production.

Hence, option B states about mass production. Complete question has been added in the image for reference.

Learn more about mass production here:

brainly.com/question/17725162

#SPJ1

5 0
2 years ago
If a borrower provides collateral and fails to repay the loan,
MakcuM [25]
The correct option is  B.
In case of non repayment of loan, the lender can sell the collateral and used the proceeds to cover his losses.  A collateral is always in form of properties which are substantial in value, it is often requested that borrowers provide collateral in order to reassure lenders that they will pay up.
6 0
3 years ago
Read 2 more answers
Other questions:
  • Dan buys a property for $260,000. he is offered a 30-year loan by the bank, at an interest rate of 6% per year. what is the annu
    12·1 answer
  • Hayes corporation has $300 million of common equity, with 6 million shares of common stock outstanding. if hayes' market value a
    12·1 answer
  • Maria and Jim have agreed on the objective to help with a canned food drive this week. They want to hang posters around local ne
    10·1 answer
  • Naomi and Matt received the following amounts from a tenant who is renting their condominium during the current year (rent is $1
    8·1 answer
  • ____ is a set of attitudes, values, and behaviors shared by a group of people?
    9·2 answers
  • Discuss how the following socio economic issues can be a challenge to social responsibility:
    6·1 answer
  • Which type of rubric contains a rating scale?
    15·2 answers
  • When the defendant's property located within a state is seized to obtain payment of a judgment from a court from another state t
    12·1 answer
  • The balance sheet indicates what an organization owns or controls and the various sources of the funds used to pay for these ass
    8·1 answer
  • In project procurement management, obtaining seller responses, selecting sellers, and awarding contracts is part of the _____ pr
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!