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Sholpan [36]
3 years ago
5

Millburg Corp. uses the periodic inventory method. Millburg's beginning inventory is $10,000. During the year, Millburg purchase

s $8,000 of inventory. Ending inventory is $5,000. Cost of goods sold is
Business
1 answer:
Annette [7]3 years ago
6 0

Answer:  $13,000

Explanation:

Given that,

Beginning inventory = $10,000

Inventory purchased = $8,000

Ending inventory = $5,000

Company uses the periodic inventory method,

Cost of goods sold = Beginning inventory + Inventory purchased - Ending inventory

                                = $10,000 + $8,000 - $5,000

                                = $13,000

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Answer:

Total Amount of Cash Dividend = $39,525

Explanation:

We have the following details,

Issued shares are the number of shares issued by the company, it includes treasury stock that is shares purchased back by the company.

Outstanding shares = Issued shares - Treasury stock

Treasury stock does not have any right of dividend, as the shares are held by company itself, it will not pay dividend to itself.

Thus dividend to be paid = 25,500 \times $1.55 per share = $39,525

Authorized shares just represent the number of maximum shares a company can issue.

Total Amount of Cash Dividend = $39,525

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