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laila [671]
3 years ago
12

King Costume uses a periodic inventory system. The company started the month with 6 masks in its beginning inventory that cost $

8 each. During the month, King Costume purchased 41 additional masks for $10 each. At the end of the month, King counted its inventory and found that 3 masks remained unsold. Using the LIFO method, its cost of goods sold for the month is:
Business
1 answer:
madreJ [45]3 years ago
8 0

Answer:

$464

Explanation:

Periodic Inventory method is being used. That means valuation of inventory is done at the end of a specific period.

LIFO method is also used for determining the cost of inventory sold. FIFO stands for Last In First Out.

<u>Calculation of Cost of Goods Sold :</u>

41 unit × $10   = $440

3 units × $8    =   $24

Total               = $464

The cost of goods sold for the month is: $464

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Landlord-Tenant relationships are established by lease contracts. State the Rights and Duties of the Landlord-Tenant Relationshi
Delicious77 [7]

Answer: The landlord would have to make the environment conducive for leaving and the tenant would have pay rent and refrain from causing problems

Explanation:

The landlord and tenant have rights and duties to perform. The main duty of the landlord is to meet the warranty of habitability; ensuring the premises is safe and is in livable condition.

Whereas the duty of the tenant is to pay rent, ensure the environment occupied is neat, avoid causing problems for individuals around and refrain using the property for illegal purpose.

The right transferred by lease is an agreement by the tenant (the assignor) to transfer all of his or her rights, title, and interest in the lease to another person (the assignee).

A sublease is the lease of a property by a tenant to a subtenant.

5 0
3 years ago
Pet World is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IRR c
Len [333]

Answer:

C) 2.57%

Explanation:

Pet World's net cash flows:

<u>Year  </u>                  <u>Cash flow</u>

0                           -$9,500  

1                             $2,000

2                            $2,025

3                            $2,050

4                            $2,075

5                            $2,100

In order to find the rate of return we can use an excel spreadsheet and the IRR function =IRR (values,[guess]) =IRR (-9500,2000,2025,2050,2075,2100)

=IRR = 2.57%

3 0
3 years ago
Each day you have $5 for lunch. Today, you decided to save $2
prisoha [69]

Each day you have $5 for lunch. Today, you decided to save $2  and buy the chicken salad tomorrow for $6.50-<u>In this case the money is being used </u>

<u>to save and store the purchasing power</u>

Explanation:

The term money can be defined as a thing that serves as

  • A medium of exchange which is usually financial in nature.
  • It is used by the borrower to repay back to the lender-used to repay the debt.
  • It is used as an unit of accounting to measure your income and expenditure.
  • It is used to store the value of money -in other words used to save  the  purchasing power of an individual

Thus we can say that ,

Each day you have $5 for lunch. Today, you decided to save $2  and buy the chicken salad tomorrow for $6.50-<u>In this case the money is being used </u>

<u>to save and store the purchasing power</u>

8 0
3 years ago
TRUE/FALSE if a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailme
adoni [48]

if a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailment has been formed-True

<h3>bailment</h3>

A bailment is a form of the legal relationship that focuses on the contractual transfer of assets or property from a bailor to a baile who voluntarily but temporarily gives up possession but not complete ownership. Even though no contract is formalized, a bailment is a type of contractual relationship. The person receiving the property (the "bailee") has custody and control over it for a certain amount of time, during which he or she is responsible for taking reasonable care of it.

To know more about bailment visit the link

brainly.com/question/24157554

#SPJ4

3 0
1 year ago
Eric wants to start a business. he is attracted to the idea of being his own boss, and wants to get started with a minimum of ex
Dovator [93]
The answer is true. Individuals who need to work for themselves frequently like to work their business, at any rate at first, as a sole proprietorship. Leeway of the sole proprietorship is that it is a generally simple and cheap type of business to set up. One disadvantage of a sole proprietorship is that the proprietor has boundless obligation. Notwithstanding, right now, Eric isn't stressed over hazard. The boundless risk factor does not seem, by all accounts, to be an issue for him.
4 0
3 years ago
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