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3 years ago

The law of supply:

Business

1 answer:

Vlad [161]3 years ago

8 0

Answer:

The law of supply reflects the amount that producers will want to offer at each price in a series of prices.

Explanation:

The law of supply determines that the quantity offered of a good increases as its price increases, keeping the remaining variables constant. The quantity offered is directly proportional to the price.

Specifically, it determines the amount of a particular good or service that is offered by the producers taking into account its price. Usually the relationship between this quantity and the price variable will be direct or positive, unlike in the demand law.

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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 30 units at $110 Mar. 10 Purchase 60 u

vova2212 [387]

Answer:

Concept/Method W-A FIFO LIFO

Ending Inventory $ 14,280 10,240 9,300

COGS $ 21,420 25,460 26,400

Explanation:

First, we calcualte the goods available for sale through the year:

Jan. 1 Inventory 30 units at $110 = 3,300

Mar. 10 Purchase 60 units at $120 = 7,200

Aug. 30 Purchase 10 units at $124 = 12,400

Dec. 12 Purchase 100 units at $128 = 12,800

Goods Available: 200 units Cost: 35,700

Weighted average:

we divide the cost of goods available over the units :

35,700 / 200 = 178.5

Then we multiply for COGS and EI

120 units x $ 178.5 = $ 21,420 COGS

80 units x $ 178.5 = $ 14,280 Ending Inventory

FIFO

The first untis(oldest) are COGS and the last are inventory.

we determinate the ending inventory from the last row:

Dec. 12 Purchase 100 units at $128 = 12,800

On ending inventory there is 80 units so:

80 units x 128 = 10,240

Then COGS will be the diffrence between cost of good available and ending inventory:

35,700 - 10,240 = 25,460

LIFO

the last units (newest) are COGS and the first are inventory

we determinate the ending inventory from the first row:

Jan. 1 Inventory 30 units at $110 = 3,300

Ending invenotory 80 units - 30 units = 50 more units

we "grab" one more row:

Mar. 10 Purchase 60 units at $120 = 7,200

from we he need 50 units at 120

so ending inventory is:

30 units at $ 110 = 3,300

50 units at $ 120 = 6,000

Total 9,300

Then, COGS is calculated by dfference like FIFO:

35,700 availalbe goods - 9,300 ending inventory = 26,400

7 0

3 years ago

The cost of goods sold for mcpherson fashions is $360,000. the beginning inventory for the firm was $20,000. twelve months later

kiruha [24]

Inventory turnover = Cost of goods sold / Average Inventory

Average Inventory = (Beginning Inventory + Ending Inventory) / 2
= ($20,000 + $40,000) / 2
= $30,000

Inventory turnover = $360,000 / $30,000
= 12 times.

3 0

3 years ago

This is where labor and other factors of production are sold in the circular flow model of income in economic theory *it’s for e

erik [133]

Answer:

Resource Market

Explanation:

A resource market is a market from where businesses purchase inputs that can be used for production.

Resource Market is a market where labor and other factors of production are sold in the circular flow model of income in economic theory.

In Resource Market, households are the sellers and firms are the buyers.

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2 years ago

6 reasons why SWOT analysis is important to a new medical office?

Andrej [43]

It helps the business identify strengths and weaknesses. It helps to capitalize on the weaknesses and turn them into strengths. It also allows for the business to do the same with its strengths. It helps the business address and focus on goals for the future. It helps the business identify and stop threats. Finally, it allows the business identify and capitalize on the opportunities available to them.

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2 years ago

A pharmacy has determined that a healthy person should receive 70 units of proteins, 100 units of carbohydrates and 20 units of

kirill [66]

Answer: 45

Explanation: check

7 0

3 years ago