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2 years ago

Olympus Climbers Company has the following inventory data:

Business

1 answer:

babymother [125]2 years ago

6 0

Answer:

The correct answer is C.

Explanation:

Giving the following information:

July 1: Beginning inventory - 30 units at $19

July 7: Purchases - 105 units at $20

July 22: Purchases - 15 units at $22

A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand.

First, we need to determine the number of units sold:

Units sold= total units - ending inventory in units

Units sold= 150 - 48= 102 units

<u>Under the FIFO (first-in, first-out) method, the cost of goods sold is calculated using the price of the firsts units incorporated into inventory.</u>

COGS= 30*19 + 72*20= $2,010

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otez555 [7]

Answer:

The first loan for $8,000 could fall under the exemption of employer-employee loan. But then after the second is taken, that exemption would no longer apply. A minimum interest of $18,000 x 4% x 6/12 = $360 should be charged.

If the loan is considered a corporation-shareholder loan, then it doesn't qualify for any type of exemption, resulting in interests = ($8,000 x 4% x 6/12) = $160 for 2020

for 2021, interest applied = [($8,000 + $160) x 4%] + ($10,000 x 4% x 6/12) = $326.40 + $360 = $686.40

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2 years ago

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jasenka [17]

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2 years ago

Why is price competition more of a factor in internet sales than other forms of retail?

Kipish [7]

Answer: I believe it's C, because it says that there are many different prices, and it makes sense because there are so many different selling sites

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2 years ago

Sandy paid 30 dollars for a blouse. Cleaning cost after each wear is about $0.50. Sandy thinks she can wear the blouse 50 times

andrezito [222]

Answer:

twice

Explanation:

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2 years ago

DYI Construction Co. is considering a new inventory system that will cost $750,000. The system is expected to generate positive

Oksanka [162]

Answer:

Year Cashflow [email protected]% PV

$ $

0 (750,000) 1 (750,000)

1 350,000 0.9259 324,065

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3 250,000 0.7938 198.450

4 180,000 0.7350 132,300

NPV 184,438

The correct answer is D. The difference in answers is due to rounding error.

Explanation:

Net present value is the diffrence between initial outlay and present value of inflow. We need to discount the cash inflows for year 1 to year 4 at 8% and then calculate the present value of cash inflows by multiplying the cash inflows by the discount factors. Finally, we will calculate NPV by deducting the initial outlay from the present value of cash inflows.

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2 years ago