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miskamm [114]
3 years ago
15

A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $60; Sec

ond purchase $67; Third purchase $64. If the company sold two units for a total of $209 and used FIFO costing, the gross profit for the period would be
Business
1 answer:
lys-0071 [83]3 years ago
8 0

Answer:

$82

Explanation:

As company Uses FIFO system, it will sell first two products

The cost price =($60 + $67 = 127).

So Gross profit = Selling Price-Cost Price

Gross Profit = 209-127

= $82

The gross profit for the period is $82

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Depreciating Assets could be anything you own that is losing its value.  It could be in the form of stocks, valuables, a car, a house.
8 0
3 years ago
Read 2 more answers
Q1: In about 200 words, write an essay analyzing the below case study using the SWOT framework.
IrinaK [193]

Essay writing is given to students in order to test their writing and reading skills.

<h3>How to write an essay?</h3>

Based on the information given, the way to write the essay will be given. Firstly, it's important to decide on your topic. In this case, it is an essay analyzing the STEEPLE Module.

Research should be done on the topic and create an essay outline.  STEEPLE stands for social, technological, economic, environmental, political, legal, and ethical. Set your argument in the introduction and develop it with evidence.

Finally, check the content, grammar, formatting, and spelling of your essay.

Learn more about essays on:

brainly.com/question/24799048

5 0
2 years ago
Jolene is opening a doggy daycare named "Little Barks." She is leaving her current job where she makes $75,000 per year in order
brilliants [131]

Answer:

Accounting profit is the difference between total revenue and accounting cost in which the accounting cost is containing only the explicit cost incurred. Economic profit is the difference between total revenue and total opportunity cost, the latter containing both the explicit cost and the implicit cost incurred.

Accounting profit = revenue - explicit cost

Accounting profit = 125,000 - (10000 + 20000)

Accounting profit = 95,000

Economic profit = accounting profit - implicit cost

Economic profit = 95,000 - (75000 + 5000)

Economic profit = 15,000

This implies that while accounting profit does not undertake implicit cost of economic activity (cost for which no explicit payment is made separately), economic profit does deduct them. Now economic profit is positive, Jolene should open Little Barks.

6 0
3 years ago
Bob has saved $315 each month for the last 6 years to make a down payment on a house. The account earned an interest rate of .41
Tasya [4]

Answer:

The amount in Bob's account is $26320.516

Explanation:

The total amount saved each month for the down payment (A ) = $315

The interest rate per month (r ) = 0.41 %

Number of years (n ) = 6 years

Below is the calculation to find the total amount in Bob’s account. Here, we will take the number of compounding period as 72 because the interest rate is monthly compounded and there are 72 months in 6 years.

= A\left [ \frac{\left ( 1+r \right )^{n\times 12}-1}{r} \right ] \\= 315 \left [ \frac{\left ( 1+ 0.0041 \right )^{6\times 12}-1}{0.0041} \right ] \\= 315\left [ \frac{\left ( 1+ 0.0041 \right )^{72}-1}{0.0041} \right ] \\= $ 26320.516

6 0
3 years ago
Upton Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, ships them to its chain
Licemer1 [7]

Answer:

AFN (Additional Funds needed) is $ 11.59 Million, Growth rate is 6.87 %.

Explanation:

1) Additional Funds Needed or AFN can be calculated as below=

AFN = (Total Assets / Previous year sales) x Change in Sale -( Liabilities affected by sales / Previous year sales) x Change in Sale - (Projected net income x Retention ratio ) ----- (a)

According to given data in question

Total Assets= 122.5 million

Change in Sales = 70  

Liabilities affected by sales = 17.5

Previous year sales = 375

Projected net income = 445

Putting the above values in equation (a)

AFN = (122.5 / 375) x 70 -( 17.5 / 375) x 70 - 445 x 0.030 x 0.60

AFN = 11.59 million

2) Growth rate : Growth rate formula is given below,

Growth rate = (Total Assets x g) - (Liabilities affected by sales x g ) - Previous year sales ( 1 +g) x 0.3 x 0.60

Growth rate = 6.87 %

3) Proforma Balance Sheet for Upton Computer  is :

Cash                               4.15 Million

Accounts Receivable    30.85 Million

Inventories                      68.83 Million

Total Current Assets      103.84 Million

Net Fixed Assets             41.53 Million

Total Assets                      145.37 Million

Line of Credit-AFN           11.59 Million

Accounts Payable             18 Million

Accruals                              10.09 Million

Total Current Liabilities     50.36

Mortgage Loan                   6 Million

Common Stock                   15 Million

Retained Earning               74.01 Million

Total Current Liabilities & Equity --- 145.37 Million          

3 0
3 years ago
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