Answer:
$35,000
Explanation:
Given that
Insurance = $700,000
Sustained cost = $40,000
Replacement cost = $1,000,000
Policy = 80%
The computation of amount eligible for payment is as shown below:-
Insurance required = Cost of building × Co insurance
=$1,000,000 × 0.80
= $800,000
The amount eligible for payment = (Insurance Carried ÷ Insurance Required) × Loss
= $700,000 ÷ ($1,000,000 × 80%) × ($40,000)
= $700,000 ÷ $800,000 × $40,000
= 0.875 × $35,000
= $35,000
Explanation:
The computation is shown below:
a. Net purchase
= Purchase - Purchase Returns and Allowances - Purchase Discounts + Freight in
= $330,000 - $8,000 - $6,000 + $12,000
= $328,000
b. The cost of goods available for sale is
= Beginning inventory + purchase
= $50,000 + $328,000
= $378,000
c. The cost of goods sold is
= The cost of goods available for sale - ending inventory
= $378,000 - $80,000
= $298,000
Answer:
Because Language is a communication tool used by everyone in their daily life as a means to convey information and arguments to others. Explanation:
Makes Sense.
Answer:
b.$77
Explanation:
beginning inventory 5 units
purchase september 4th 8 untis
sale for 6 units:
<u>inventory after first sale: (available at second sale)</u>
beginning used.
purchase september 4th 7 untis at $6
September 25th Sale of 12 units
<u>inventory used for second sale:</u>
September 4th 7 untis at $6
September 15th 5 units at $7
total COGS for the sale: $77
Answer:
A
Explanation:
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