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7nadin3 [17]
3 years ago
14

On March​ 1, Year​ 1, LuxWear Inc. had beginning inventory and​ purchases, at​ cost, of​ $50,000 and​ $20,000, respectively. The

beginning inventory and purchases had a retail value of​ $75,000 and​ $30,000, respectively. The company had sales of​ $60,000, as well as markups of​ $6,000 and markdowns of​ $10,000. What would LuxWear report as the lower of cost or market for its ending inventory on March​ 31, Year 1 using the conventional​ (LCM) retail​ method? (Round the​ cost-to-retail ratio to two decimal​ places.)
Business
1 answer:
Tcecarenko [31]3 years ago
6 0

Answer: $25,830

Explanation:

Description

Cost

Retail

Beginning inventory

$50,000

$ 75,000

Purchases

20,000

30,000

Markups

0

6,000

Subtotal

$70,000

$111,000

Cost-to-retail ratio:

$70,000/$111,000 = 63%

Markdowns

0

(10,000)

Goods available for sale

$70,000

$101,000

Less: Sales at retail

(60,000)

Ending inventory at retail

$ 41,000

Ending inventory at lower of cost or market:

$41,000 x 63% =

$25,830

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sattari [20]

Answer:

option D - $22,000 gain

Explanation:

the gain can be calculated by using the following relation

Face Value + Unamortized Premium - Purchase Price = gain

where,

Face Value - $1,000,000

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Purchase Price - 99% x $1,000,000

putting all value to get gain or loss on the retirement

= $1,000,000 + (60% x $20,000) - (99% x $1,000,000)

=  $22,000 gain

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3 years ago
F. in late 2010 hca announced an intended dividend recapitalization in which it would pay a $2 billion dividend to shareholders
Andrews [41]

Answer:

The times interest earned ratio will reduce

Explanation:

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Therefore looking at the scenario, if HCA increases its debt level by issuing a $1.53 billion bond, this will increase its interest expense significantly and the number of times its earnings will cover its interest expense will be remarkably lower.

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4 0
3 years ago
Read 2 more answers
Wilderness Fanatic, a manufacturer of outdoor goods, is willing to supply 1000 of its Blue Thrash tandem kayaks when the price p
liraira [26]

1) let P represent Price, and since the dependency is linear, the supply equation will take the following form:

A) Y- Y_{1\\} =  (\frac{Y_{1} -Y_{2} }{P_{1} -P_{2} } ) (P_{1} -P_{2} )

⇒ Y - 1,000 = (\frac{-250}{-100} ) (P-690)

⇒ Y - 1,000 = \frac{5}{2} (P-690) = (\frac{5}{2})P - 345

⇒ Y = (\frac{5}{2})P + 1,000- 345

⇒ Y = (\frac{5}{2})P + 655, therefore,

P = (\frac{2}{5}) (Y-655)

B) When Y = 1,130, the price would be:

⇒P =   \frac{2}{5} (1,130 - 655)

⇒ P =  \frac{2}{5} (485)

Therefore:

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See the link below for more supply related questions:
brainly.com/question/2822773

 

5 0
2 years ago
A bank asks customers to evaluate the drive-thru service as good, average, or poor. Which level of measurement is this classific
Lelechka [254]

Answer:

B. Ordinal

Explanation:

Ordinal scales  of measurement is the second level of measurement that measures non numeric concepts like happiness, comfort, discomfort, etc

ordinal scale identifies rank of variables with orders like good, very good, excellent etc. An example of ordinal scale of measurement is the Likert scale with measures data with orders like strongly agreed, agreed, , disagreed, strongly disagreed .

In ordinal scale of measurement, it is the order that matters. Therefore a bank that allows  its customers to evaluates its drive - thru service  as good, average or poor is using the ordinal scale of measurement

7 0
3 years ago
An analyst following Barlow Energy has compiled the following information in preparation for additional analysis she has to incl
Vadim26 [7]

Answer:

FCFE: 99

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we calcualte the cash flwo form operation using the indirect method:

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income = 125  + 14 = 139

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depreciation expense                      50

change in working capital               (30)

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net borrowing                        40

159 -100 + 40 = 99

3 0
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