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DanielleElmas [232]
4 years ago
14

Coronado Industries had the following inventory transactions occur during 2018:  Unit Cost/unit 2/1/18Purchase56$503/14/18 Purch

ase 92$415/1/18Purchase66$50The company sold 150 units at $60 each and has a tax rate of 40%. Assuming that a periodic inventory system is used, what is the company’s gross profit using LIFO?
Business
1 answer:
crimeas [40]4 years ago
3 0

Answer:

$2,256

Explanation:

Given that,

Number of units sold = 150 units

Selling price = $60

Tax rate = 40%

                            Unit       Cost/unit

2/1/18  Purchase     56          $50

3/14/18  Purchase    92          $41

5/1/18    Purchase    66          $50

Cost of goods sold:

= (66 units × $50) + [(150 units - 66 units) × $41)

= $3,300 + $3,444

= $6,744

Sales:

= Number of units sold × Selling price

= 150 ×  $60

= $9,000

Gross profit:

= Sales - Cost of goods sold

= $9,000 - $6,744

= $2,256

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Complete Question:

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Explanation:

"Revolving door" refers to the ease that former employees can move from the private sector to the public sector and vice-versa.  Several Goldman Sachs former employees have left the corporation to work in various government positions.  Many of these employers argue that they have taken advantage of their expertise rather than their connections to move from one sector to another.  Others argue that they bring in invaluable knowledge and skills to bear upon policy formations and other regulatory roles.

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3 years ago
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Answer:

Note <em>See complete and organized question as attached as picture below</em>

<em />

1. Dividend yield ratio

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A bond had a price of $1,946.61 at the beginning of the year and a price of $1,982.79 at the end of the year. The bond's par val
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Answer:

The percentage return on the bond is 8.02%

Explanation:

The return on the bond comprises of the increase or decrease in bond's price plus the coupon earned by investors on the bond in the year.

The difference in market price is considered that is the amount could be sold for in the market price at that point in time.

The return on the bond is computed thus:

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% return =total return/opening price

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