To find the value of the inventory to the nearest cent:
Estimated costs are: $18,750
Storage costs: 12%
Interest costs: 12%
Transportation costs: 5%
Let's add the costs up: 12% + 12% + 5% = 29%
We are solving for the value of inventory so in this case we will make that X.
X = estimated costs/interest amounts
X = $18,750/29%
X = $18,750/0.29
X = $64,655.17
The value of the inventory is $64,655.17
To check your work you can take $64,655.17 and multiply it by 29%
= $18,750
Answer:
Jury of Executive Opinion
Explanation:
Jury of Executive Opinion method of sales forecasting employs the views of to management in various section. They are are experienced and have good knowledge of the market factors and are able to predict the expected sales. They are able to forecast sales figures through estimates and previous experiences. All internal and external factors are taken into account. Their judgements are pooled together and averaged in drawing the sales forecast of Kryptos Inc.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
The following two errors were made in the physical inventory counts: 1. 2018 ending inventory was understated by $8,000. 2. 2019 ending inventory was overstated by $4,000.
We were not provided with the relevant information to recalculate the cost of goods sold, but, I can provide the formula to solve the problem.
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
1- COGS= beginning finished inventory + cost of goods manufactured - (ending finished inventory + 8,000)
2- COGS= beginning finished inventory + cost of goods manufactured - (ending finished inventory - 4,000)
Answer:
product contamination.
Explanation:
Product contamination is when the product is considered not to be in its original state of not properly produced to meet customer needs. The main considerations in product contamination are malicious product tampering, accidental product contamination, adverse publicity, and government recall.
In this instance Lily feels that clothes that have been tried on by other people has been contaminated. So she goes for clothes that are at the back of the racks.
