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Sladkaya [172]
2 years ago
5

Dave's Duds reported cost of goods sold of $2,000,000 this year. The inventory account increased by $200,000 during the year to

an ending balance of $400,000. What was the cost of merchandise that Dave's purchased during the year? a. $2,200,000 b. $2,400,000 c. $1,800,000 d. $1,600,000
Business
1 answer:
Nookie1986 [14]2 years ago
4 0

Answer:

a. $2,200,000

Explanation:

We solve considering the inventory identity:

$$Beginning Inventory + Purchase = Ending Inventory + COGS

$$ Purchase = (Ending Inventory - Beginning Inventory) + COGS

the difference during the year means the difference between ending and beginning inventory was of 200,000

So we plug that into the formula and solve

$$ Purchase = +200,000 + 2,000,000

Purchase 2,200,000

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<u>Return on Investment</u> is the compensation companies receive for purchasing capital assets.

Capital assets are significant pieces of property like houses, automobiles, rental properties, stocks, bonds, and even antiques or works of art. A capital asset for businesses is an asset with a useful life of more than a year that is not intended for sale during normal company operations.

Your investments in the business are the time and money you devote to strengthening your company. The profit you receive from your investments is the return. The ratio of net profit to the entire cost of the investment is how ROI is often defined.

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1 year ago
What effect do challenging team goals have on social loafing?
dmitriy555 [2]
I think it’s C but I’m not quite sure about that
6 0
2 years ago
What is a modification problem? What are the three possible types of modification problems?
Oxana [17]

Answers and explanations:

1) A modification problem takes places when creating a database two different type of information is entered in the same chart row generating inaccuracy. The only form to solve this issue is creating a new row so each piece of information will be stored in one row particularly.

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4 0
3 years ago
The US agricultural sector experienced a severe drought in 2012. A drought decreases the supply of agricultural products, which
Nataliya [291]

Answer:

True

Explanation:

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This is simply because there are more products and more sellers, and this will result in more supply.

5 0
3 years ago
Claremore Company received $7,000 as payment from Tulsa Company for a sale made on account in the previous month. Which of the f
Inessa [10]

Answer:

a. Cash 7,000 Accounts Receivable 7,000

Explanation:

As for the information provided, the payment is received for a sales made in last month, and thus entry at the time of sales shall be:

Accounts Receivables A/c Dr.  $7,000

                    To Sales                               $7,000

Therefore, when the amount is collected today it will increase cash by debiting cash for the same amount.

Further, balance of accounts receivables will be decreased by crediting such account.

Therefore, correct option is

a. Cash 7,000 Accounts Receivable 7,000

7 0
3 years ago
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