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]
3 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]3 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
Research and planning skills involve
kolezko [41]

Answer:

D.Being punctual, managing time and enforcing polices.

3 0
3 years ago
Some companies want to get their products into as many outlets as possible, understanding that the more exposure a product gets,
Rus_ich [418]

The correct answer is the intensive distribution. An intensive distribution is being defined as having to get products to many outlets as possible by which the consumers are likely to encounter and see the product everywhere that they may go to.

5 0
4 years ago
Read 2 more answers
Beats Electronics has been able to outperform Audio-Technica, Bose, JBL, Skullcandy, Sennheiser, and Sony in the high-end, premi
Tju [1.3M]

The main reason for the success of the Beats Electronics is: <u>B. it created a perception that owning its products was cool.</u>

<u>Explanation</u>:

Beats Electronics was able to outperform in the premium headphone market. They were able to out-stand from their competitive companies like JBL, Bose, Audio-Technica, Skullcandy and Sennheiser.

Beats Electronics made their customers to believe that owning their product is cool. They created a perception to the customers which made them to lead in the market.

Perception refers to the way the information is conveyed to others. Beat Electronics followed this strategy and made their customers to feel that owning their product is cool.

5 0
3 years ago
XYZ Company leased equipment to West Corporation under a lease agreement that qualifies as a finance lease to West but not as a
melomori [17]

Answer:

132,000$ will be recorded by west as amortization expense for the year.

Explanation:

Depreciation/amortization is systematic allocation of cost of asset over its useful life. In this case asset cost is not given so we assume that PV of lease payment is equal to market value (660,000 dollars) of asset.

In case of leased asset the useful life taken for calculation of depreciation is lower of 1) Useful life 2) Lease term as per applicable accounting standards.

So we have taken 5 years to charge depreciation on Straight line method.

Hence by dividing 660000 by five we get our answer.

7 0
3 years ago
If a firm needs to finance a new corporate headquarters building, then it would most likely seek the funds in the:________
Gennadij [26K]

If a firm needs to finance a new corporate headquarters building, then it would most likely seek the funds in the <u>capital market</u>.

A capital market is a place where buyers and sellers bask in the trade of economic securities like bonds, shares, and many others. The trading is undertaken by using participants which includes people and establishments. Capital marketplace trades broadly speaking in lengthy-term securities.

The capital market is wherein individuals and companies borrow price ranges using shares, bonds, debentures, debt units, and so on. The maximum common instance is a stock alternate which includes NASDAQ, trading shares from one-of-a-kind businesses among buyers.

Capital markets are crucial due to the fact they finance the economic system, allocate danger, and support economic boom and monetary balance. within the U.S., capital markets fund seventy two% of all monetary activities, in terms of equity and debt financing of non-economic organizations.

Learn more about trade here brainly.com/question/17727564

#SPJ4

5 0
2 years ago
Other questions:
  • On January 1 of Year 1, Congo Express Airways issued $3,500,000 of 7% bonds that. pay interest semiannually on January 1 and Jul
    12·1 answer
  • In the circular flow of economic​ activity, there are two kinds of markets in which firms and households interact. In the fact
    9·1 answer
  • Rural internet access, with one dominant provider that faces very little competition, is a good example of – market. it function
    6·2 answers
  • Megatron Corp. earned net income of 13 comma 000 Euros in its overseas branch at France. Its headquarters is located in the U.S.
    13·1 answer
  • Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as follows. Quarter HD
    15·1 answer
  • The economy begins in equilibrium at point E, representing the real interest rate r1 at which saving S1 equals desired investmen
    10·1 answer
  • Systems is a​ start-up company that makes connectors for​ high-speed Internet connections. The company has budgeted variable cos
    6·1 answer
  • The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop.The standard l
    7·1 answer
  • Please answer both questions in complete sentences
    6·1 answer
  • _____ means transmitting information across functional boundaries in an organization to align all functions with customer expect
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!