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never [62]
3 years ago
6

country cupboard purchased inventory for $ 4 comma 800 and also paid a $ 360 freight bill. Country Cupboard returned 20​% of the

goods to the seller and later took a 2​% purchase discount. Assume Country Cupboard uses a perpetual inventory system. What is Country Cupboard​'s final cost of the inventory that it​ kept? (Round your answer to the nearest whole​ number.) A. $ 4 comma 123 B. $ 4 comma 045 C. $ 3 comma 763 D. $ 941
Business
1 answer:
Ede4ka [16]3 years ago
3 0

Answer:

A. $ 4,123

Explanation:

For accounting purposes we will consider as cost to ivnentory all the necessarycost incurred to get the merchandise ready for use. Therefore the returns and dsicount decrease the inventory as they weren't cost incurred.

The freight will count as necessary and incurred thus, added.

Invoice nominal          4,800

returns

4,800 x 20% =       <u>      (960)</u>

balance                      3,840

discount 2%           <u>        (76.8)   </u>

merchandise cost     3.763,2‬

freights-in          <u>          360     </u>

total cost                   4,123.2

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People skills are interpersonal skills like listening, communication, and building relationships.

Both types of skills are essential for success.

8 0
3 years ago
A capital projects fund for a new city courthouse recorded a receivable of $300,000 for a state grant and a $450,000 transfer fr
TiliK225 [7]

Answer:

$300,000

Explanation:

The grant of $300,000 happens not to have any restrictions mentioned alongside it in the question and as such will be declared or reported as revenue as an unrestricted grant. This is acceptable by the Governmental Accounting Standards Board, GASB.

Cheers

5 0
3 years ago
A portfolio manager plans to use a Treasury bond futures contract to hedge a bond portfolio over the next three months. The port
Butoxors [25]

Answer: 556

Explanation:

The position in futures contracts that is required will be calculated thus:

= (100,000,000 × 5.6) / (112,000 × 9)

= 560,000,000 / 1,008,000

= 555.5

= 556 approximately

Therefore, based on the calculation, the answer is 556.

6 0
2 years ago
leah is a line worker who is widely admired by virtually everyone, from peers to corporate leaders. she is able to get along wit
pshichka [43]

Answer:

The aswer is D

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5 0
1 year ago
Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units Unit Cost Total
tensa zangetsu [6.8K]

Answer:

<u>Weighted average</u>

COGS: 7176.18

Enbding Invnetory:   4192.82

<u>LIFO</u>

cogs  7,491

ending inventory  3878

<u>FIFO</u>

COGS: 6875

Ending Inventory: 4494

Explanation:

event units price subtotal

Beginning 21 71 1491

Purchase 31 77 2387

Purchase 42 81 3402

Purchase 47 87 4089

available 141  11369

Average price: 11,369 / 141 =    80.6312

COGS: (47 + 42) x 80.6312 = 7176.1773

Enbding Invnetory:

(141 - 47 - 42) x 80.6312 =4192.822695

LIFO

we sale the latest units thus, we compute for sold October 14 and August 22

42 x 81 + 47 x 87 = 7,491

Then, Ending Inventory:

good available - COGS = ending inventory

11,369 - 7,491 = 3878

FIFO we sale the first units so we take from the beginning unti l achieve the 89 units sold (42 + 47)

21 from  beginning at 71

31 from  March at 77

37 from  August at 81

Total COGS: 6875

Ending Inventory

good available - COGS = ending inventory

11,369 - 6875= 4494

4 0
3 years ago
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