1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lys-0071 [83]
2 years ago
8

Grouper Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $160,600, and purchases for January thro

ugh April totaled $474,000. Sales revenue for the same period were $669,900. Grouper’s normal gross profit percentage is 30% on sales. Using the gross profit method, estimate Grouper’s April 30 inventory that was destroyed by fire.
Estimated ending inventory destroyed in fire. $ _____________
Business
1 answer:
Katen [24]2 years ago
6 0

Answer:

$165,670

Explanation:

Cost of goods sold = Sales revenue (1 - Gross profit)

                                = $669,900 × (1 - 0.30)

                                = $669,900 × 0.70

                                = $468,930

Estimated ending inventory destroyed in fire:

= Beginning inventory + Purchase - cost of goods sold

= $160,600 + $474,000 - $468,930

= $165,670

You might be interested in
You see information everywhere. Sometimes it is useful and sometimes it is not. Think of a scenario in which you think informati
IRISSAK [1]

Answer:

Getting Hacked

Explanation:

Information is one of the (if not the most) powerful weapon that exists and a great asset to those that possess it. That being said if you get hacked and that information gets stolen it can easily turn from being an asset to a liability. The individual that stole this information can use it against you in many ways such as stealing money, blackmail, using your identity, etc. The possibilities are endless.

5 0
3 years ago
Tread Inc. is the market leader for sports shoes in the subcontinent of Gavon. Though the brand has not introduced any new produ
Harman [31]

Answer: The answer is b

Explanation:

The concept of advertising response function is based on the theory of marginal physical product and shows the relationship between advertising and the level of consumption of the goods by the consumers. The theory of marginal physical product states that when there is a change in total product resulting from one unit change in the quantity of the resources used per unit of time. When average product is increasing ,marginal physical product is greater than average product,when average product is maximum ,marginal physical equals average product .when average product is decreasing marginal physical product is less than average product.The theory of marginal physical product can also be called the law of diminishing return which states that if increasing quantities of one factor of production are used in conjunction with a fixed quantity of other factors then, after a certain point each successive unit of the variable factor will make smaller and smaller addition to the total output. In this case, the law tells the Trend Inc when to stop adding more input of the variable factor to a fixed factor.

Invariably, we are saying that it high time for Trend Inc, should spend proportionately less on advertising than on newer line. It should now spend more money on bringing of new product into the market than spending more on the advertisement of the sport shoes because at a certain point the demand for the old product will fall when diminishing return must have set in on the product demand.

5 0
3 years ago
In operations management, _____ means using resources to create value by providing customers with goods and services that offer
Bess [88]
<span>Operational management manages activities that are involved in creating value by producing goods and services and distributing them to customers. 
</span>Effectiveness is a term used in operational management to describe using resources to create value by providing customers with goods and services that offer a better relationship between price and perceived benefits. 
6 0
2 years ago
If there's upward pressure on price how does this affect the supply side of the market?
taurus [48]

If there's upward pressure on price, there would be an increase in the quantity supplied.

<h3>What the relationship between price and the quantity supplied?</h3>

There is a positive relationship between price and the quantity supplied. When there is an increase in price, the quantity supplied increases all things being equal.

The positive relationship between price and the quantity supplied is a result of the desires to earn more profit. So when price increases, in order to earn higher income, producers would increase the quantity supplied.  This postulation is in line with the law of supply.

To learn more about the law of supply, please check: brainly.com/question/26374465

#SPJ1

6 0
1 year ago
You are the manager of a small U.S. firm that sells nails in a competitive U.S. market (the nails you sell are a standardized co
Viktor [21]

Answer:

On the basis of given information, I'll increase my production of nails.

Explanation:

The reason for increase in production of nails are as follow:

  1. The fact that overall market supply of nails will decrease by 2 % due to exit by the foreign competitors that means my competition will decrease and it will increase the market share for me.
  2. The fact that the overall demand of nails will increase by 2 % means that now I can increase my production in order to meet the supply and demand gap.

These two facts show that it is good opportunity to increase the production as the demand has increased and competition has decreased.

7 0
3 years ago
Other questions:
  • Sylvio purchased an apartment building as an investment in January 2008 for $383,500 and sold it for $475,000 in 2014. He report
    15·1 answer
  • Groundz Coffee Shop uses 4 pounds of a specialty tea weekly; each pound costs $16. Carrying costs are $52. It costs the firm $8
    8·1 answer
  • The Laresen Company uses the machine hour method of applying factory overhead to production. The budgeted factory overhead last
    10·1 answer
  • How do large corporations benefit from the presence of small businesses?
    6·2 answers
  • Which of the following statements about minimum payments is incorrect?
    8·2 answers
  • The cost of wages paid to employees directly involved in the manufacturing process in converting materials into finished product
    6·1 answer
  • The beliefs, attitudes, and behavior associated with a person or group; a way of life.
    12·1 answer
  • What would happen to the body if the body temperature continue to decrease during the 10th hour instead of leveling off
    5·1 answer
  • An aging of a company's accounts receivable indicates that $8400 are estimated to be uncollectible. If Allowance for Doubtful Ac
    9·1 answer
  • State five methods of interview​
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!