Is 1 1\2 1 2\4 and 1 3\6

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sol

Levart [38]

Answer:

Ending inventory is $424,045

Cost of goods sold is $889,955

Explanation:

Retail Inventory method is used to estimate the value of inventory using retail price of the unit of inventory.

As per given data

Cost Retail

Beginning inventory $370,000 $515,000

Net purchases $890,000 $ 1,280,000

Freight-in $54,000

Net markups $55,000

Net markdowns $25,000

Net sales $1,235,000

Cost of Purchase = 890,000 + 54,000 = $944,000

Retail Price of Purchases = Net Purchases Retail + ( Net Markup ) = $1280,000 + ( 55,000 - 25,000 ) = 1,310,000

Cost to retail Percentage = ( $944,000 / $1,310,000 ) x 100 = 72.06%

Closing Inventory = Purchases + Net Markup - Sales = $1,280,000 + ( $944,000 / $1,310,000 ) - $1,235,000 = $75,000

Retail Cost

Beginning inventory $515,000 $370,000

Net purchases $75,000 $54,045 ( $75,000 x 72.06% )

Ending Inventory $590,000 $424,045

Closing Inventory = Opening + Purchases - Closing = $370,000 + ( 890,000 + 54,000 ) - 424,045 = $889,955

7 0

3 years ago

Daphne contracts with speedy builders inc. To construct a six-foot fence around her yard. Daphne’s neighbor rando is delighted b

baherus [9]

If previously there was a letter of agreement, then Daphne can sue the builder quickly for violating the agreement. but if there is no written agreement then Daphne cannot sue the builder quickly.

An employment agreement or work contract is an agreement made by a worker with a company which is carried out orally or in writing. Usually, the employment contract is valid for a certain time or an indefinite time. The things discussed in it are, terms of work, rights and obligations.

A valid employment contract must meet the following criteria and requirements.
There are Workers and Employers
Work Implementation Information
Specific Time Information
Number of Wages Received
Mutual agreement
Authority Information
Have Objects Clearly Organized
Must be in accordance with the Law

You can learn more about employment agreement here brainly.com/question/28387425

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6 0

1 year ago

As an importer of clothing, would you rather have your products sold by a general merchandise retailer or a specialty store? Why

jok3333 [9.3K]

Answer:

Specialty store

Explanation:

6 0

2 years ago

In 2015, the city of Berkeley instituted a tax on sugar-sweetened sodas. Suppose that the tax increased the price of a typical s

DedPeter [7]

Answer:

(g) Between 0 and -S7.5k because residents can substitute to other products

Explanation:

Data given in the question

Increase in price of typical soda = 10 cents

Total consumed = 150,000 sodas [er day

Dropped quantity = 75,000 sodas

So by considering the above information, the per day compensating variation of the tax varies from 0 and - 7,500

Since the sugar sweetened sodas is treated as a normal goods. Moreover, people can substitute the other goods also if there is an increase in a price of the good

The -7,500 is come from = (-75,000 × 0.10)

The options are as follows

(a) Greater than -$15k because soda is a luxury good with income (b) -$15k because that is the old consumption level times the value of the tax (c) Between -S7.5k and -$15k because soda is a luxury good elasticity > 1 with income elasticity >1 (d) Between -$7.5k arti -$15k because residents can substitute to other products (e) -$7.5k because that is the new consumption level times the value of the tax ()-$7.5k because that is the change in consumption times the value of the tax (g) Between 0 and -S7.5k because residents can substitute to other products (h) Between 0 and -$7.5k because because beverages are typically necessity goods with 6) Nothing because there was no effect on income G) It is impossible to say without knowing consumers' marginal rate of substitution income elasticity less than 1

8 0

3 years ago

Someone may choose to own a car instead of leasing because

jonny [76]

Someone may choose to own a car instead of leasing because they may end up needing to drive it farther and longer than the set milage or wanting to own the vehicle outright instead of making lease or rental payments. If you damage the vehicle, it also becomes more expensive because you do not own it entirely. Reporting damage or mile overage to the leasing company results in fees and penalities.

6 0

3 years ago

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