Cost of goods sold (Periodic System) = Beginning inventory + (Purchases, net of returns and allowances, and purchase discounts) + freight in − Ending inventory .
COGS = Cost of goods sold
COGS = 46200+(401100-13500-11300)+16000-57900
COGS = 380600
The total sum that your company spent on expenses directly associated with the selling of goods is known as the cost of goods sold. Depending on the nature of your firm, this could also include raw materials, packaging, direct labor involved in making or selling the product, and items bought for resale.
First In First Out (FIFO), Last In First Out (LIFO), and the Average Cost Method are the three techniques that a business might employ when tracking the amount of inventory sold over a given time period.
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Answer:
The correct answer is option E.
Explanation:
A monopoly is a market where there is only single producer or seller. There are restrictions on entry in the market. The firms in the monopoly are price makers. That is why they have a downward sloping demand curve.
There are no close substitutes for the product and there is only one seller in the monopoly.
The firm may earn profit or loss or profits in the short run based on its revenue and cost conditions.
So, all the options given are correct.
Answer:
Exclusive Agency Listing
Explanation:
For this type of listing, the broker represents the real state seller. However, the seller <u>has the right</u> to sell the property by themselves. If the property were to be sold by <em>other means</em> different that the broker's, the agency will not receive a commision from the seller.
Answer:
The answer is "Option A"
Explanation:
RE stands for retained income, In this system also requires the net income to be used in the accounting and cash flows, while the statement of money flow, which is not released as dividends of shareholder value, is used instead for new investments within the company, and other options are were wrong that can be described as follows:
- Option B and option D are similar to each other because, both used for payment on personal and consumer loans, that's why it is not correct.
- In option C, It is used in the calculation, that's why it is not correct.
