Answer:
Article 2 of the UCC code states that in order for goods to be merchantable (or fit for sale) they must:
- should correspond to the contract description, e.g. a cereal box should contain cereal
- must be of fair average quality, e.g. the cereal must be edible and be of a reasonable quality, like have a decent flavor
- must be fit to serve the purpose for which an average consumer might purchase them, e.g. you should be able to eat your cereal at breakfast, and it should not require hours or preparation
- the quality of all the units included in the package must be similar, although slight variations are permitted, e.g. cornflakes should be of similar size and quality
- are properly packaged and labeled, e.g. the package should not be broken and it should include relevant information
- fulfill any promise contained in its package or labels, e.g. if the box says it contains cereal with raisins, it must contain cereal with raisins
There are lots of ways in which an implied warranty of merchantability is breached, e.g. if the cereal is spoiled, the box is broken and the contents are falling, cornflakes are all crushed and lost consistency, etc.
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Please see below
Explanation:
Given that:
Number of chairs sold = 35,000
Cost per chair $79
The cost of goods sold that must be eliminated from the consolidated
= Number of chairs sold × Cost per chair
= 35,000 × $90
= $2,765,000
Therefore, for computing the cost of goods sold to be eliminated, we simply multiply the number of chairs sold with cost per chair.
As a person becomes more educated, the person may gain more money while working or applying to jobs and will gain more knowledge of their surroundings.
