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Dovator [93]
4 years ago
13

Sackett Corporation had a beginning inventory of 10,000 units, which were purchased in the prior year as follows: Units Unit Pri

ce September 4,000 $2.00 October 4,000 $2.10 December 2,000 $2.30 In the current year, Sackett purchases an additional 12,000 units (7,000 in June at $2.50 and 5,000 in November at $2.70) and sells 16,000 units. Using the FIFO method, what is Sackett’s ending inventory?
Business
1 answer:
Strike441 [17]4 years ago
7 0

Answer:

Sackett’s ending inventory is $16000

Explanation:

given data

                      Units              Unit Price

September    4,000            $2.00

October         4,000            $2.10

December     2,000            $2.30

to find out

FIFO method what is Sackett’s ending inventory

solution

we know here that unit sold = 16000 units

available for sale = 22000

so ending inventory = 22000 - 16000

ending inventory = $6000

so

unit included 6000 is latest purchase are

so November purchase 5000 @ 2.7 is = $13500

and June purchase 1000 @ 2.5 is = $2500

so total will be = $13500 + $2500

total = $16000

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Liono4ka [1.6K]

Answer:

$650

Explanation:

Let x be the list price of the Tvs

85% of x = 0.85x

90% of 0.85x = (0.9)(0.85)x

96% of (0.9)(0.85)x = (0.96)(0.9)(0.85)x

The net price is given by $477.36

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Hence x = $477.36 / (0.96)(0.9)(0.85)

x = $477.36 / 0.7344

x = $650

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3 years ago
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Alexandra [31]

Answer:

Internal controls.

Explanation:

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls in an organization or a company is to guarantee that losses are eliminated as there's a reliable and an accurate accounting system.

This ultimately implies that, an internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency. Internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting.

Hence, a company's plans to minimize theft and enhance the accuracy of accounting information are referred to as internal controls.

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3 years ago
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ivanzaharov [21]

Answer:

the ability to switch easily.

Explanation:

Product indicators help a company to measure the performance of its product against a defined target. The price sensitivity of product determines a company how much the demand for a certain product will change if there is change in price of that product. This enables the company to compare its product easily and measure the performance of its product as it was expected that whether it meets the criteria or goals of the business. Product indicators of sensitivity to price do not include the ability to switch easily.

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kogti [31]

Answer:

c.

Explanation:

Based on the information provided within the question it can be said that this can be analyzed by anthropologists as a form of negative reciprocity. This term refers to when an action has a negative effect on someone else and that person then undertakes another action which has the same effect on another person, and so on. As is being described in this scenario as each person takes an action in order to get the best deal they possibly can, but at the same time undercutting those around.

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3 years ago
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