1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Murrr4er [49]
3 years ago
13

A company’s normal selling price for its product is $28 per unit. However, due to market competition, the selling price has fall

en to $23 per unit. This company's current FIFO inventory consists of 280 units purchased at $24 per unit. Net realizable value has fallen to $21 per unit. Calculate the value of this company's inventory at the lower of cost or market.
Business
1 answer:
Marrrta [24]3 years ago
3 0

Answer:

$5,880

Explanation:

The computation of the value of inventory at the lower of cost or market value is shown below

= Number of units purchased × lower per unit

= 280 units  $21

= $5,880

Since the lower value per unit is $21 among all given per unit value and the same is to be considered

All other information which is given is irrelevant. Hence, ignored it

You might be interested in
Determine if the people in the example have benefited (i.e., are winners) or have been harmed (i.e., are losers) by unexpected i
Over [174]

Answer:

Winners

  • The US Federal Government
  • Joy

Losers

  • Karen
  • Herb
  • 3rd National Bank

Explanation:

The US Federal Government is a Winner because Inflation in general has the effect of eroding the value of money. Generally interest rates account for this but when it is Unexpected Inflation they don't. The US government is a winner because the amount of debt they now have in real terms have decreased.

Joy is also a winner for the same reason as the US government.

Karen lost out as a result of this because her Fixed Pension does not change with inflation which means that when inflation rates go up unexpectedly she will be able to buy less goods and services.

Herb's money will lose real value as a result of inflation because like Karen, Herb will be able to buy less goods and services when inflation rises.

3rd National Bank will also lose out because they made loans that would not have accounted for Unexpected inflation. The real value that they will be owed will therefore be less and they will suffer 'real' losses.

8 0
3 years ago
Part A. Sarah has a credit card with a 21% interest rate and has a current balance of $838. What would her estimated interest be
weeeeeb [17]
I uploded the answer to answer.com
3 0
3 years ago
If Randy invests $15,000 at a 9% interest
WITCHER [35]

It will take 8.04 years for the initial investment of $15000 to become $30,000

What is the future value of an investment?

The future value of $15,000 invested now earning a rate of return of 9% per year is $30,000, it the future equivalent of an amount invested now when the invested amount has earned interest over a specific period of time.

The below future value formula of single cash flow can be used to determine the number of years it takes for the initial investment to double.

FV=PV*(1+r)^N

FV=future value=$30,000

PV=initial investment=$15,000

r=rate of return=9%

N=number of years it takes for the initial investment to double=unknown(assume it is X)

$30,000=$15000*(1+9%)^N

$30000/$15000=(1+9%)^N

2=1.09^N

take log  of both sides

ln(2)=N*ln(1.09)

N=ln(2)/ln(1.09)

N=8.04 years

Find out more about future value on:brainly.com/question/24703884

#SPJ1

8 0
2 years ago
Return to questionItem 1Item 1 Judy's Boutique just paid an annual dividend of $3.01 on its common stock. The firm increases its
lys-0071 [83]

Answer:

Cost of Equity = 11.30%

Explanation:

Computation Cost for Equity

Using Gordon Model

Market Price = [Dividend × (1 + Growth Rate )] / (Cost of Equity - Growth Rate)

41.08 = [$3.01 × (1 + 0.037)] / (Cost of Equity - 0.037)

41.08 = [$3.01 × (1.037)] / (Cost of Equity - 0.037)

Cost of Equity - 0.037 = $3.12 / 41.08

Cost of Equity - 0.037 = $0.076

Cost of Equity = 0.076 + 0.037

Cost of Equity = 0.1130

Cost of Equity = 11.30%

3 0
3 years ago
The prepaid insurance account had a beginning balance of $4,500 and was debited for $16,600 of premiums paid during the year. Jo
trasher [3.6K]

Answer:

prepaid expense 15,500 debit

prepaid insurance 15,500 credit

Explanation:

<em>The amount of unexpired insurance will be the ending balance of the account</em>

4,500 debit

+ 16,600 premium paid

+/- adjustment

5,600 ending

4,500 + 16,600 - 5,600 = 15,500

8 0
3 years ago
Read 2 more answers
Other questions:
  • Nicole is considering opening a Roth Individual Retirement Account. If she invests into the Roth IRA, determine the amount in th
    12·2 answers
  • An employee's protean career ________.
    6·1 answer
  • Bechtel Machinery stock currently sells for $65 per share. The market requires a 14 percent return on the firm's stock. The comp
    12·1 answer
  • George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s
    5·1 answer
  • The management team at Imagine Advertising is trying to land a new client. Carla, the CEO, has set targets for how much the cont
    10·1 answer
  • Relationship between peer assessment and critical thinking​
    15·1 answer
  • The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.52 per share on its stock. The dividends are expected to grow at
    11·1 answer
  • Creating your own flyer assignment
    10·1 answer
  • What do you dislike the most out of the following below?
    7·2 answers
  • in some games, one player or firm moves first and commits to a strategy to which the rival player or firm will subsequently resp
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!