Answer:
$113,700
Explanation:
Last in first out (LIFO) is an inventory management method, in which the cost of the most recent product bought are the first to be charged to expenses.
With regards to the above question, we'll have;
Inventory sold = (12,000 × $13.5) + (900 × $13) = $173,700
Ending inventory = [7,200 × $12] + [(3,000 - 900) × $13]
Ending inventory = $86,400 + $27,300
Ending inventory = $113,700
Therefore, the ending inventory using LIFO is $113,700
Answer:
$ 75131
Explanation:
Given:
Amount inherited = $ 300000
Present amount of annuity = $ 300000
Interest rate, i = 8% = 0.08
number of years, n = 5
Now,
the formula for the present amount of annuity is given as:
Present amount of annuity = ![P[\frac{1-(1+i)^{-n}}{i}]](https://tex.z-dn.net/?f=P%5B%5Cfrac%7B1-%281%2Bi%29%5E%7B-n%7D%7D%7Bi%7D%5D)
where,
P is the periodic payment
n is the number of years
now, on substituting the values, we get
$ 300000 = ![P[\frac{1-(1+0.08)^{-5}}{0.08}]](https://tex.z-dn.net/?f=P%5B%5Cfrac%7B1-%281%2B0.08%29%5E%7B-5%7D%7D%7B0.08%7D%5D)
or
$ 300000 = P × 3.993
or
P = $ 75131.48 ≈ $ 75131
hence, the amount he can withdraw is $ 75131
Answer:
the total cost of the new equipment is $105,500
Explanation:
The computation of the total cost of the new equipment is given below:
Total cost of the new equipment is
= Net price + Sales tax + Installation charges + Payment for concrete slab
= [$100,000 - ($100,000 × 2%)] + $3,000 + $1,500 + $3,000
= $105,500
Hence, the total cost of the new equipment is $105,500
Answer:
The correct answer is letter "B": magnitude of the response in quantity demanded to a change in price.
Explanation:
Price elasticity of demand is the measure of how quantity demanded for a good or service changes as a result of changes in price. <em>Price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price</em>. If the result is equal or greater than one (1) the good or service is elastic. If the result is lower than one (1), the product is inelastic.
