The _____ of the United States is the Federal Reserve.

The following information applies to the questions displayed below] A local Chevrolet dealership carries the following types of

myrzilka [38]

Answer:

Chevrolet Dealership

A) The total cost of the entire inventory is:

= $575,000

B) Each inventory would be reported at the LCNRV:

Inventory Items Quantity Reporting Cost/Value

Vans 4 NRV

Trucks 7 NRV

2-door sedans 3 Cost

4-door sedans 5 Cost

Sports cars 1 Cost

SUVs 6 NRV

C) Journal Entry:

Debit Cost of goods sold $27,000

Credit Inventory $27,000

To write-down costs to net realizable values.

D) TRUE.

Explanation:

a) Data and Calculations:

Inventory Items Quantity Cost per unit NRV per Unit LCNRV

Vans 4 27000 $108,000 25000 $100,000

Trucks 7 18000 126,000 17000 119,000

2-door sedans 3 13000 39,000 15000 39,000

4-door sedans 5 17000 85,000 20000 85,000

Sports cars 1 37000 37,000 40000 37,000

SUVs 6 30000 180,000 28000 168,000

Total Cost $575,000 $548,000

3 0

3 years ago

Give one word for the following.

Lyrx [107]

Answer:

a fired

b quit

Explanation:

involuntary is not by choice

voluntary is by choice

4 0

2 years ago

A strictly dominant action produces: a higher payoff than any other action the player can use for every possible action of the o

Novosadov [1.4K]

Answer:

A strictly dominant action produces: a higher payoff than any other action the player can use for every possible action of the other players.

Explanation:

A strictly dominant action does not play fair. Here, there is no equality because strict dominance requires all payoffs to be strictly greater.

A strictly dominant strategy is that strategy that always provides greater utility to a the player, no matter what the other player's strategy is.

A rational player will avoid a strictly dominated counterpart because if his opponent uses strictly dominated action he will be come out worse off regardless of which moves other players make.

4 0

3 years ago

Let’s see how fees can hurt your investment strategy. Let’s assume that your mutual fund grows at an average rate of 5% per year

elena-14-01-66 [18.8K]

Answer:

We notice that the more the fees increase for a constant rate of return, the number of years it takes to double on the investment also increases. For example;

a). 15.6 years

b). 20 years

c). 28 years

Explanation:

The rule of 70 is a formula that can be used to estimate the number of years it will take an investment to double up.The formula is expressed as;

Number of years to double=70/Annual rate of return

a). Given;

Annual rate of return per unit of investment=5%

Annual fees per unit of investment=0.5%

Net rate of return=Annual rate of return-Annual fees=(5%-0.5%)=4.5%

Replacing;

Number of years to double=70/Net rate of return

=70/4.5=15.555 to nearest tenth=15.6 years

b). Given;

Annual rate of return per unit of investment=5%

Annual fees per unit of investment=1.5%

Net rate of return=Annual rate of return-Annual fees=(5%-1.5%)=3.5%

Replacing;

Number of years to double=70/Net rate of return

=70/3.5=20.0 to nearest tenth=20 years

c). Given

Annual rate of return per unit of investment=5%

Annual fees per unit of investment=2.5%

Net rate of return=Annual rate of return-Annual fees=(5%-2.5%)=2.5%

Replacing;

Number of years to double=70/Net rate of return

=70/2.5=28.0 to nearest tenth=28 years

We notice that the more the fees increase for a constant rate of return, the number of years it takes to double on the investment also increases

6 0

3 years ago

Marigold Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is avai

Mars2501 [29]

Answer:

Marigold Company

Cost of goods sold = $9,119

Ending inventory = $7,461

Explanation:

a) Data and Calculations:

Units Unit Cost Total Cost

April 1 inventory 250 $14 $ 3,500

April 15 purchase 420 17 7,140

April 23 purchase 330 18 5,940

Total 1,000 $16,580

Weighted-average costs $16.58

Sales 550

Cost of goods sold = 550 * $16.58 = $9,119

Ending inventory = 450 * $16.58 = $7,461

b) The first computation is for the total cost of goods available, which is then divided by the total units available for sale. This gives the weighted-average cost per unit. This unit cost is then multiplied with the units of ending inventory and sales to obtain the cost of the ending inventory and the cost of goods sold, respectively.

8 0

3 years ago