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valentinak56 [21]
3 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]3 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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3 years ago
If merchandise sold on account is returned to the seller, the seller may inform the customer of the details by issuing a
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The seller may inform the customer of the details by issuing a credit memo .

A credit note or credit memo is a commercial document issued by a seller to a buyer. A credit memo serves as the source document for the sales return journal. In other words, the credit is evidence of a decline in sales. A credit is a short form of term credit and is evidence of a reduction in the amount owed by the buyer to the seller on a previous invoice.

A document from the bank to the depositor may also indicate that the depositor's account balance is in a non-deposit event such as B. Collection of the depositor's exchange bill by the bank.

A credit memo lists the products, quantities, and agreed prices for products or services offered by the Seller to the Buyer but not returned or received by the Buyer. May be issued for damaged goods, errors, and repairs.

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4 0
2 years ago
Which of the following items is not a product cost?
sineoko [7]

Answer:

d. Transportation cost on goods delivered to customers.

Explanation:

Product cost is defined as the cost a business bears as a result of producing a product. This includes labor, cost of supplies, factory overhead costs, and cost of transporting supplies.

The cost of transporting product to the consumer is logistics cost.

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If the demand for steak (a normal good) shifts to the left, the most likely reason is that:______.
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The demand curve shows the relationship between price and quantity demanded. A shift to the left of the demand curve indicates that demand has decreased.

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1 year ago
Man is termed an 'economic animal' because he a) has the ability to understand economic activities b) lives a life which is gove
Vinvika [58]

Answer:

The conception of man as an economic animal is implied by the view that economic production is the determining “factor” or “sphere” of man or society. Against this conception can be put another, that of man as praxis. This takes account of man as a creative being, capable of realizing his freedom through his own activity. In this article the theory of the determining role of the “economic factor”, and the theory of factors in general have been examined. The economic interpretation of history, a variant of the theory of factors, has been acknowledged as partly true for the self‐alienated man and society, but the theory of factors in any variant has been found inadequate as a general theory of man, or society. The possibility of freedom cannot be reduced to the fact that the determining roles played by “factors”, vary, or to the hope that the economic “factor” can be subordinated to a “better” one. Man's freedom consists in his resolving the conflict of “factors”, and in realizing himself as an integral creative being, no longer split into independent and mutually opposed spheres.

Explanation:

that should help

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2 years ago
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