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slavikrds [6]
3 years ago
8

Hoover Company purchased two identical inventory items. The item purchased first cost $33.00. The item purchased second cost $35

.00. Then Hoover sold one of the inventory items for $62.00. Based on this information, the amount of:
Business
2 answers:
s2008m [1.1K]3 years ago
8 0

Answer:

The amount of gross margin is 28 if Hoover uses the weighted average cost method

Explanation:

Based on this information, the amount of gross margin is 28 if Hoover uses the weighted average cost method.

When using the weighted average method, you divide the cost of goods available for sale by the number of units available for sale, which yields the weighted-average cost per unit.

From the scenario, the two identical inventory items purchased are:

First cost ........$33.00.

Second cost ..$35.00.

Weighted Cost = (33 x 1) + (35 x 1)] / 2 = $34

Gross profit = $62.00 (sales price) - $34 (cost) = $28

AlekseyPX3 years ago
6 0

Answer:

If Hoover Company used the LIFO method:

gross margin = sales price - purchase price of second item = $62 - $35 = $27

Inventory value = $33

If Hoover Company used the FIFO method:

gross margin = sales price - purchase price of first item = $62 - $33 = $29

inventory value = $35

If Hoover Company used the weighted average method:

gross margin = sales price - average price = $62 - [($33 + $35) / 2] = $62 - $34 = $28

inventory value = $34

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Ray Of Light [21]

Answer:

There's a list of important question to be do done:

1. A complete list of credit qualification of each member of the mortgage backed security (MBS) is needed: it is very useful because allow you to know the quality of the product, as in 2008 crisis the issuers of this kind of products put bad credit rate mortgages with good rate.

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4-is the product been traded in stock exchange or it OTC ( over the counter). If it is traded OTC is lesser regulated than any stock exchange

8 0
3 years ago
Billy has received a mediocre evaluation for the second year in a row. He knows that he has made improvements, but his superviso
Ber [7]

Answer:

He could take deep breaths and then respond nonjudgmentally

Explanation:

From the question, we are informed about Billy who has received a mediocre evaluation for the second year in a row. He knows that he has made improvements, but his supervisor just does not seem to notice or in Billy’s opinion, care. Billy likes his job and wants to keep it. He listens to what his supervisor says and then his supervisor asks Billy to prepare a written response. Before Billy leaves the room to prepare the response, In this case should he respond to his supervisor by taking deep breaths and then respond non-judgmentally when addressing is supervisor.

7 0
3 years ago
Sally is planning to sell her company and she prefers to obtain immediate liquidity, and the value of consideration to be fixed.
ella [17]

Answer: A cash sale

                                           

Explanation: In simple words, liquidity refers to the ability of an organisation to bear its short term expenses. For that a company must have cash or some assets that can be readily converted into cash in case of need.

Hence Sally should sell her company in cash sale as it will result in inflow of cash which will create liquidity and also the consideration will be certain with short timely payments.

Other option such as IPO or  stock for stock might result in increase in value but certainly won't give her liquidity.  

6 0
3 years ago
The Shaffer Auto Company has purchased a large parcel of land forâ $1 million. The company recently discovered that the land is
dolphi86 [110]

Answer:

O D $0

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

Since the land is worthless, there is no next best use of the land. Thus, its opportunity cost is zero.

I hope my answer helps you

6 0
3 years ago
In year 1, nominal GDP for the United States was $2,250 billion and in year 2 it was $2,508 billion. The GDP deflator was 72 in
leonid [27]

Answer:

c. 1.6 percent.

Explanation:

GDP Deflator = Nominal GDP / Real GDP * 100

year 1

Real GDP = $2250 billion/72*100

                = $ 3125.

year 2

Real GDP = $2508 billion/79*100

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Real GDP rose by = Real GDP (2nd year) - Real GDP (1st year)

                              = $3175 - $3125

                              = $ 50

% increase = $50/$2,250*100

                  = 1.6%

Therefore, The Real GDP rose by 1.6%.

7 0
3 years ago
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