Answer:
Income +/- inventory adjustment
2015: 138,000 - 23,000 = 115,000
2016: 254,000 + 61,000 = 315,000
2017: 168,000 + 17,000 = 185,000
Explanation:
<u>Inventory Identity:</u>
Beginning + Purchases = Ending + COGS
As the mistake is on the right side it compensates by the other component which is COGS
<u><em>When the inventory is overstated</em></u> this means COGS is understated.
We didn't record the cost of good sold thefore our gross profit is higher making the net income higher.
<u><em>When the inventory is understated</em></u> this means COGS is overstated.
We record more cost of goods sold thefore our gross profit is lower making the net income fewer as well.
Answer: The answer is given below
Explanation:
a. What is the extended list price of the order?
This will be gotten by multiplying the number of cases with the price list. From the question, we are told that Whole Foods Market ordered 12 cases of organic vegetable soup with a list price of $18.90 per case and 8 cases of organic baked beans with a list price of $33.50 per case.
Organic vegetable soup:
= 12 × $18.90
= $226.80
Organic baked beans= 8 × $33.50
= $268
Total = $226.80 + $268
= $494.80
b. What is the total amount of the trade discount on this order?
We are told that the wholesaler offered Whole Foods a 39% trade discount. This will be:
= 39% × $494.80
= 39/100 × $494.80
= 0.39 × $494.80
= $192.972
c. What is the total net amount Whole Foods owes the wholesaler for the order?
The total net amount will be the total price of the order and the discount. This will be:
= $494.80 - $192.972
= $301.828
Answer:
Letter c is correct. <u>It encourages participation from everyone.</u>
Explanation:
People are encouraged to participate in a nominal group technique because it is comprehensive to all participants.
This technique consists of creating group dynamics where each member can express their opinion about what is being proposed by voting, independently and silently, which consequently encourages the breakdown of shyness and reduces the pressure on the participant. This technique has positive effects by balancing the participation of all people and by motivating the group's sense of belonging and effectiveness.
Answer:
<u>product recalls</u>
Explanation:
Note, the Consumer Product Safety Commission is an agency that is concerned with consumer product safety in general regardless of whether they are food-related products or not.
Hence, <u>this agency among its stated primary objectives on its official website includes carrying out product recalls where necessary.</u>
