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Reil [10]
3 years ago
7

Blake Company purchased two identical inventory items. The item purchased first cost $17.00, and the item purchased second cost

$18.00. Blake sold one of the items for $30.00. Which of the following statements is true? Ending inventory will be lower if Blake uses the weighted-average rather than the FIFO inventory cost flow method. Cost of goods sold will be higher if Blake uses the FIFO rather than the weighted-average inventory cost flow method. Gross margin will be higher if Blake uses LIFO rather than the FIFO inventory cost flow method. The dollar amount assigned to ending inventory will be the same no matter which inventory cost flow method is used.
Business
1 answer:
BaLLatris [955]3 years ago
7 0

Answer:

Ending inventory will be lower if Blake uses the weighted-average rather than the FIFO inventory cost flow method.

Explanation:

Ending inventory will be lower if Blake uses the weighted-average rather than the FIFO inventory cost flow method.

True as under weighted average:

(17 + 18) / 2 = 17.50

the ending inventory will be one unit valued at $17.50

while under FIFO the 17 dollar unit was sold and declare cost

while the second is keep under ending invenotry at $18.00

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Silver Mining is opening a new mineral extraction facility in the local town and will employ several thousand people. They have
TEA [102]

Answer:

Corporate Social Responsibility or CSR.

Explanation:

To put it simply, Corporate Social Responsibility means that a company is concerned and responsible about how their actions affect People, Planet and their Profits (3 P's)

Following are the generally accepted principles of CSR.

  1. Compliance with international commitments
  2. Compliance with international and national laws and regulations
  3. Maintenance of good corporate governance
  4. Communication and dialog with all stakeholders
  5. Commitment to Transparency
  6. Conservation and the promotion of the Environment
  7. Fiscal responsibility
  8. Protecting Human Rights
  9. Promotion of Social responsibility

5 0
4 years ago
Materials used by Square Yard Products Inc. in producing Division 3's product are currently purchased from outside suppliers at
sammy [17]

Answer:

Increase in income from Operations = $72,000

Explanation:

Current cost of purchasing the inventory = $5 per unit.

Purchase price if bought from Division 6 = $3.20

Net benefit on each unit = $5 - $3.20 = $1.80

Number of units purchased = 40,000

Net savings in Expense of purchase of raw material, which will result in increase in income from operation's by = 40,000 \times $1.80

= $72,000.00

4 0
4 years ago
Suppose the actual price for good a is $20. john is willing to pay $30, susie is willing to pay $28, joseph is willing to pay $2
victus00 [196]

Answer: Total consumer surplus is $27

We calculate Consumer Surplus as follows:

Consumer Surplus = Amount consumer is willing to pay - Price of the product

We calculate Consumer Surplus for each person

Person                 Price Willing      Actual Price               Consumer Surplus

John                          30                      20                      30 - 20 = 10        

Susie                         28                      20                      28 - 20 = 08

Joseph                      25                      20                      25 - 20 = 05

Jessica                      23                     20                        23 - 20 = 03

<u>Jeremy                      21                      20                        21 - 20 = 01 </u>

<u>Total   Consumer Surplus                                                                27         </u>

7 0
4 years ago
Titanic Corporation leased executive limousines under terms of $20,000 to be paid at the inception of the lease, and four equal
NeTakaya

Answer:

the interest expense for the first year is $10,238

Explanation:

The computation of the first year interest expense is shown below:

= Four equal annual payment × PVA factor of 4 years at 11% × interest rate implicit in the lease

= $30,000 ×3.10245 × 11%

= $10,238

Hence, the interest expense for the first year is $10,238

We simply applied the above formula so that the correct value could come

And, the same is to be considered

6 0
3 years ago
When monopolistically competitive firms advertise, in the long run they will still earn zero economic profit. they can earn posi
Daniel [21]

Answer:

When monopolistically competitive firms advertise, in the long run they will still earn zero economic profit.

Explanation:

Monopolistic competition happens when many producers sell products that are differentiated from one another and hence are not perfect substitutes

Based on this, the demand curve of a firm in a monopolistic competitive market will shift so that it is tangent to the firm's average total cost curve and this will make it impossible for the firm to make economic profit. The best that can be expected is to be able to break even

This means in the long run, a monopolistically competitive firm will make zero economic profit.  

A good example is Hotel which can only raise its prices without losing all of its customers based on brand loyalty and distinct quality differentiation.  

8 0
4 years ago
Read 2 more answers
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