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valentinak56 [21]
4 years ago
12

Dillard’s, Inc., operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2016 third-quarte

r report, the company reported Cost of Goods Sold of $880 million, ending inventory for the third quarter of $1,900 million, and ending inventory for the previous quarter of $1,500 million. Estimate merchandise purchases for the third quarter. (Enter your answer in millions.)
Business
1 answer:
SashulF [63]4 years ago
5 0

Answer:

Purchases= 1,280 million

Explanation:

Giving the following information:

the company reported Cost of Goods Sold of $880 million, ending inventory for the third quarter of $1,900 million, and ending inventory for the previous quarter of $1,500 million.

Purchases= cost of goods sold - Beginning inventory + ending inventory

Purchases= 880 - 1500 + 1900= 1,280 million

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An insured was injured as an innocent bystander when someone committed a felony. the insurer is
eduard
Liable to the insured for the loss 

There are different kinds of insurances available--health insurance, home insurance, car insurance, life insurance, etc.

Specific types of insurances relevant to the given situation (above) are health, injury and illness, and personal accident insurances to name a few. Health insurances cover certain medical costs, and personal accident insurance covers accidental death and disability. Illness and accident insurances protects a person against the economic repercussions brought about by certain mishaps and gives relief to the ill or injured person or a dependent.
8 0
4 years ago
Suppose that the pre-tax price of gasoline is $1 per gallon. A tax of $0.50 is imposed and is paid by consumers to the governmen
charle [14.2K]

Answer:

$1.25

Explanation:

Data provided in the question:

The pre-tax price of gasoline = $1 per gallon

Imposed tax per gallon = $0.50

Now,

The total tax burden on the consumer is $0.50

considering the condition that the consumer tax burden is equal to the producer tax burden

The total tax burden will be divided in equal parts to the consumer and the producer

Thus,

The equal tax burden will be = [ Total tax burden ] ÷ 2

= $0.50 ÷ 2

= $0.25

Hence,

The gross price of gasoline after the tax will be = $1 + $0.25

= $1.25

7 0
4 years ago
Crane Corporation acquires a coal mine at a cost of $404,000. Intangible development costs total $101,000. After extraction has
Svet_ta [14]

Answer:

The journal entry to record depletion is  :

Debit : Depletion Expense $74,235

Credit : Accumulated Depletion $74,235

Explanation:

<em>Depletion Expense = Depletion rate × units extracted during the year</em>

where,

<em>Depletion rate = (Cost - Salvage Value) ÷ Estimated total units</em>

Therefore,

Depletion rate = ($404,000 + $101,000 + $80,800 - $161,600) ÷ 4,040 tons

                        = $ 105 per ton

Therefore,

Depletion Expense = $ 105 per ton × 707 tons

                                = $74,235

<u>Journal Entry :</u>

Debit : Depletion Expense $74,235

Credit : Accumulated Depletion $74,235

8 0
3 years ago
Suppose that when the price of ginger ale is $2 per bottle, firms can sell 4 million bottles. When the price of ginger ale is $3
lesantik [10]

<u>Solution</u>: The correct answer is option D

<u>Explanation</u>:

The following formula is applied for calculating elasticity of demand:

\mathrm{e}=\left[\left(\mathrm{Q}_{2}-\mathrm{Q}_{1}\right) /\left\{\left(\mathrm{Q}_{1}+\mathrm{Q}_{2}\right) / 2\right\}\right] /\left[\left(\mathrm{P}_{2}-\mathrm{P}_{1}\right) /\left\{\left(\mathrm{P}_{1}+\mathrm{P}_{2}\right) / 2\right\}\right]

Here, Q2 = 2 million

Q1 = 4 million

P2 = $3

P1 = $2

\begin{array}{l}\mathrm{e}=[(2-4) /\{(4+2) / 2\}] /[(\$ 3-\$ 2) /\{(\$ 2+\$ 3) / 2\}] \\\mathrm{e}=[(-2) / 3] /[1 / 2.50]\end{array}

e = - 1.67

Thus, the absolute value is 1.67.

The ginger ale is price elastic because the absolute value is higher than 1. An increase in price will decrease its total revenue. Thus, the following statement is true:  (d) The demand for ginger ale is price elastic, so an increase in the price of ginger ale will decrease the total revenue of ginger ale producers.

5 0
4 years ago
To save at least $15,000 in 5 years, which monthly deposit is the minimum amount an eighth grader and his family should plan to
jek_recluse [69]

The family should save minimum $250 every month to save up to $15,000 at the end of 5 years.

<u>Explanation:</u>

Total savings, S = $15,000

Time period, t = 5 years

Monthly deposit, x= ?

Time period in months = 12 X 5 = 60 months

Monthly deposit = Total savings / Time period in months

x = $15000/60

x = $250

Therefore, the family should save minimum $250 every month to save up to $15,000 at the end of 5 years.

7 0
3 years ago
Read 2 more answers
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