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Naya [18.7K]
3 years ago
10

Concord has the following inventory information. July 1 Beginning Inventory 30 units at $19 $570 7 Purchases 80 units at $18 144

0 22 Purchases 10 units at $23 230 $2240 A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is ___________.
Business
1 answer:
Alla [95]3 years ago
7 0

Answer:

$1560

Explanation:

The inventory in hand is 35 units and the total number of units are 120 units which means the units sold are 85. According to First in First Out method, the total units that are sold first are 30 units at the rate $19 per unit and 55 units at the rate $18 per unit.

This means:

Inventory sold = $19*30 + $18*55 = $1560

So the amount allocated to cost of goods sold is $1560.

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In a ________, two or more companies at one level join together to follow a new marketing opportunity. franchise multichannel di
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<span>In a channel arrangement, two or more companies at one level join together to follow a new marketing opportunity. 

When a company has a channel arraignment it allows for new marketing strategies and tactics. In this situation, companies are going in together at the same level with the same power to accomplish new opportunities and goals together. </span>
6 0
3 years ago
An example of foreseeable damages from a faulty repair of your car that led to an accident would be __________. your loss of a w
OLga [1]

Answer:

the cost to repair your vehicle, as well as all damage to other vehicles involved in the accident.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.

A foreseeable damage can be defined as a any form of damage that the parties to a contract knew or took note of at the time when they were signing an agreement to the contract. Thus, it is the ability of an individual to reasonably anticipate the likelihood of damage or potential injury in a given circumstance such as an accident.

This ultimately implies that, foreseeable damages involves the ability of a reasonable individual to anticipate the potential results of his or her actions such as damage or injury to another person due to the refusal to repair a faulty car.

An example of foreseeable damages from a faulty repair of your car that led to an accident would be the cost to repair your vehicle, payment of hospital bill for the injured, including the damage to other vehicles that were involved in the car accident.

5 0
3 years ago
The Higgins Company has just purchased a piece of equipment at a cost of $120,000. This equipment will reduce operating costs by
Maru [420]

Answer:

B. 2.8 years

Explanation:

Initial investment = -120,000+ 8,000 = -112,000

Yr 1 cash inflow = 40,000, hence net CF = 40,000-112,000 = -72,000

Yr 2 cash inflow = 40,000, hence net CF = 40,000- 72,000 = -32,000

Yr 3 cash inflow = 40,000, hence net CF = 40,000-32,000 = 12,000

Payback period = last year with negative net CF + (absolute net CF that year/ total CF the following year)

= 2 + (32,000/40,000)

= 2 + 0.8

= 2.8 years

3 0
4 years ago
Suppose that the U.S. government decides to charge cola producers a tax. Before the tax, 50 billion cases of cola were sold ever
Georgia [21]

Answer:

U.S. Tax Burden on Cola:

The amount of the tax on a case of cola is $4 per case. Of this amount, the burden that falls on consumers is $1 per case, and the burden that falls on producers is ___$3______ per case.

The effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers.

a. True

b. False

Explanation:

The tax burden on consumers, which is represented by the difference in the price of cola from $5 to $6 per unit is $1 ($6 - $5).  However, the cash received by producers reduced by $3 from $5  to $2.  This shows that the total tax burden on both consumers and producers is $4 ($1 + $3).

This represents a total tax burden of $4 or about 67% based on the new selling price of cola or 80% based on the old selling price of cola.

"The effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers alone.   This because the price of cola would have increased to $9 per unit.  Since the demand for cola in this instance is elastic, this change in price would have caused a more than 80% change in the quantity demanded.

4 0
4 years ago
Stealth bank has deposits of $300 million. it holds reserves of $20 million and has purchased government bonds worth $300 millio
ryzh [129]

First let us identify if the asset is a gain or loss. An asset is a gain if it contributes to the banks overall finance while it is a loss if it is a cost directly or indirectly.

Deposits of $300 million = Gain (+)

Reserves of $20 million = Gain (+)

<span>Purchased government bonds worth $300 million = Loss (-)         ---> This entails cost</span>

Selling bank’s loans at current market value of $600 million = Gain (+)

Therefore adding up everything to get the banks net worth:

Stealth banks net worth = $300 M + $20 M - $300 M + $600 M

<span>Stealth banks net worth = $620 million</span>

7 0
3 years ago
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