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Zigmanuir [339]
3 years ago
10

The following units of an inventory item were available for sale during the year: Beginning inventory 7 units at $50 First purch

ase 17 units at $53 Second purchase 20 units at $59 Third purchase 18 units at $62 The firm uses the periodic inventory system. During the year, 35 units of the item were sold. The value of ending inventory using FIFO is a. $2,548 b. $1,997 c. $1,318 d. $1,647 Chat Conversation End Type a message...
Business
1 answer:
Angelina_Jolie [31]3 years ago
5 0

Answer:

d. $1,647

Explanation:

The computation of the ending inventory using the FIFO method under the  periodic inventory system is shown below:

But before that first we have to determine the ending inventory units which is

= Beginning inventory + first purchase units + first purchase units + first purchase units - sold units

= 7 units + 17 units + 20 units + 18 units - 35 units

= 27 units

Now the ending inventory is

= 18 units × $62 + 9 units × $59

= $1,116 + $531

= $1,647

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You and a friend apply for a job and you believe that you are more qualified - Outcome Fairness

You find out that your friend's uncle is hiring a manager for the company- Procedural justice

Explanation:

Outcome Fairness is the situation where we perceive that the results for a certain situation will be based on fair judgement.

Procedural Justice is a situation where a man believes that there will be pure justice in resource allocation and decision making will be based on judgement.

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3 years ago
What is the main reason that firms eventually encounter diseconomies of scale as they keep increasing the size of their store or
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Answer:

The correct answer is option B.

Explanation:

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3 years ago
How many states have regulatory agencies to monitor state-chartered banks?
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3 years ago
Read 2 more answers
1. Will your company use advertising as a promotional strategy? If so, which types of advertising will you use? If not, why not?
Kaylis [27]

1. Will, your company use advertising as a promotional strategy? If so, which types of advertising will you use? If not, why not?  

Answer: Yes, printed strategies, social networks, events, and public relations will be used.

Explanation:

The promotion strategies are used in the marketing of the companies to be able to inform their potential clients about the products of the company. Through the promotion strategies, the advertising media are chosen with which the target population will be reached as potential customers, making known the benefits of the products and their characteristics.

For example, promotional strategies include print advertising; give out flyers to inform people about the product, stick posters or put advertising banners. Another method is social networks that are currently widely used for advertising due to the demand for use that people have in these networks, which facilitates the promotion of a product.

Likewise, events will be held where potential clients can attend to know the products that are being sold and lastly, public relations are used through which you can have new associations for the sale of products.

2. Will your company use public relations as a promotional strategy? If so, describe at least two ways you will communicate with the public.

Answer: Yes, product launch party in the main store and press releases.

Explanation:  

Public relations are part of the promotion strategies of a company, it has the function of establishing or strengthening links with potential customers, companies or magazines, through these events people are informed of the products they want to sell.  

For example, when having a product launch party, the objective is to bring together the media and customers so they know the product and potential customers, while the media make more publicity about the product. Likewise, the company can promote its products through press releases through which it explains the characteristics and benefits of the product.

3. Describe at least two things your company could do in order to try to get publicity. TIP: If this includes press releases, describe what the release or releases would be about.

1. Billboard where the product is presented with a slogan that catches the public's attention.  

2. contract a person with a lot of influence on social networks to announce the prod.  

Explanation:

Advertising aims to increase the sales statistics of a product, which is why they use different strategies to place the product on the market, to carry out an analysis to find out how to reach the desired target. For example, billboards are an advertising tool, it should be placed in a place that is heavily traveled by people so it can be seen, and if possible, several billboards are placed in strategic places, in the same way, a person with a lot of influence in the social networks can be hired to promote the product, in this way the company can transmit the product information to more people.

4.   Choose a type of advertisement (newspaper, magazine, outdoor, radio, Internet, and so on) to research, and then answer the following questions

Answer:

Advertisements with Slogan.

  a. Find the Web site for a company that sells this type of advertisement (such as newspaper, magazine, outdoor, radio, Internet, or another type of ad). What is this company's name?

Answer:

Company name: Doyle Dane Bernbach

   b. Describe at least one type of advertisement you can purchase from this company, including any details about the size, length, color, or other features of the advertisement.

Answer:

An advertisement showing the product you want to market being used by a young person, highlighting the advantages of the product and how good it would be to have it. It should be the size of a 33-inch screen, bright colors, and bold lettering and slogan.

   c. How much does this type of advertisement cost?

Answer:

The price is highly variable and these quotes are given when the company is shown what it needs and they are in negotiations for the advertisement.

    d.  Do you think this type of advertisement would be effective for your company? Why or why not?

Answer: Yes, the big and eye-catching slogan ads are the ones that resonate in people's thoughts, using each item described may make the product look very interesting.

Explanation:    

Advertisements are the support used by companies to advertise their products, these ads can be of different types for visual, auditory examples or a combination of the two, likewise, the ads can present only images or can also present a slogan.

Slogan ads are widely used because of the impact it leaves on people since the slogan can create a significant effect on potential customers.

You can find the other answer in the PDF file

Download pdf
4 0
3 years ago
Use the following information available as of December 31 to prepare an income statement for the year and a balance sheet for Go
denis-greek [22]

Answer:

Goldie Company

a) Income Statement for the year ended December 31:

Fees for services                             $123,000

Miscellaneous expenses  9,000

Interest expense               3,700

Salaries expense             71,500

Supplies expense             8,500

Rent expense                    11,100   $103,800

Net income                                        19,200

b) Balance Sheet as of December 31:

Assets:

Cash on hand                       $11,600

Accounts receivable              17,400

Supplies on hand                   3,300

Equipment                           92,700

Total assets                     $125,000

Liabilities and Equity:

Accounts payable              $17,800

Notes payable                    25,000

Common stock                  55,000

Retained earnings             27,200

Total liabilities & equity $125,000                    

Explanation:

a) Data and Calculations:

Trial balance as of December 31:

Account Titles                        Debit        Credit

Cash on hand                     $11,600

Accounts receivable            17,400

Supplies on hand                 3,300

Equipment                         92,700

Accounts payable                                $17,800

Notes payable                                      25,000

Common stock                                    55,000

Retained earnings                                 8,000

Fees for services                               123,000

Miscellaneous expenses  9,000

Interest expense               3,700

Salaries expense             71,500

Supplies expense            8,500

Rent expense                   11,100

Totals                        $228,800    $228,800

Retained Earnings at January 1 =       $8,000 (27,200 - 19,200)

Net income                                           19,200

Retained Earnings at December 31 $27,200

5 0
3 years ago
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