Solution :
The answer is in the chart provided below.
The record of the cost of the goods sold, purchase, inventories and ending inventory that uses LIFO for the three months that ended on 31st of March month ---
The total cost of goods sold is $ 1,021,250.00 and total inventory cost is $ 881,250.00
Answer:
$38,000
Explanation:
Opportunity cost is the benefit forgone for choosing another alternative by the individual.
In this case, the total opportunity cost incurred by Ed in running his own business is the cost that is needed to maintain the business and the opportunity to attain a salary of $25,000 for working for a newspaper. Calculation is as follows:
Business Expenses + Rent + Salary (not availed) = Opportunity cost
1,000 + 12,000 + 25,000 = $38,000
Hence, the opportunity cost for running his own business is $38,000.
Answer: $80,242
Explanation:
Common stock = Assets - Liabilities - Retained earnings
Assets next year = 256,555 + 55,000
= $311,555
Liabilities remain unchanged.
Retained earnings
= Opening retained earnings + Net income - dividends
= 49,793 + 44,200 - 12,000
= $81,993
Common stock next year;
= 311,555 - 149,320 - 81,993
= $80,242
Here are the answers that would best complete the given statement above. A firm's market offering might include a range of options from PURE TANGIBLE PRODUCTS such as gasoline or toasters at one end to PURE SERVICES <span>such as a haircut or a trip to the dentist. Hope this helps.</span>
Answer:
$8,566
Explanation:
The computation of the gross margin is shown below:
Purchase of inventory $9,800
Less: Purchase discount ($9,800 × 2%) ($196)
Add: Freight paid $430
Total purchase made $10,034
Sales $18,600
Gross margin ($18,600 - $10,034) $8,566
We simply deduct the sales from the total purchase so that the gross margin amount could come
