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Neporo4naja [7]
2 years ago
8

On March 15, a fire destroyed Blossom Company's entire retail inventory. The inventory on hand as of January 1 totaled $5300000.

From January 1 through the time of the fire, the company made purchases of $1432000, incurred freight-in of $182000, and had sales of $3540000. Assuming the rate of gross profit to selling price is 20%, what is the approximate value of the inventory that was destroyed
Business
1 answer:
Svet_ta [14]2 years ago
7 0

Answer:

The value of inventory destroyed=$4,082,000

Explanation:

<em>The value of the inventory destroyed is the difference between the the cost of the total goods available for sale and the cost of goods sold</em>

The value of inventory destroyed = cost of goods available for sale - value of inventory sold

Cost of goods sold = 3540,000 - (20%×  3540,000)= 2,832,000

The cost of goods available for dale = opening inventory + purchases + freight charges

$5300000 + $1432000 +  $182000 = 6,914,000

The value of inventory destroyed = 6,914,000 - 2,832,000 = 4082000

The value of inventory destroyed=$4,082,000

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If the world's population increased exponentially from 5.937 billion in 1998 to 6.771 billion in 2008 and continued to increase
Vaselesa [24]

Answer:

The world's population would have been 7.1137 billion in 2012, and this is 0.0437 billion (i.e. 7.1137 - 7.07 = 0.0437) higher compared to the population reference bureau estimate of 7.07 billion in July 2012.

Explanation:

This can be computed using the following exponential formula:

P(t) = P(0)a^t ............................ (1)

Where;

P(t) = World population in year t.

P(0) = World population in year 0 which is 1998 = 5.937 billion

a = base = ?

t = number of years

Substituting the value into equation (1), we have:

P(t) = 5.937 * a^t .......................................... (2)

Since we have 10 years from 1998 to 2008 (i.e. 2008 - 1998 = 10), we have:

P(t) = P(10) = World population in 2008 = 6.771 billion

t = 10

Substituting the value into equation (2) and solve for a, we have:

6.771 = 5.937 * a^10

a^10 = 6.771 / 5.937

a^10 = 1.1405

a = \sqrt[10]{1.405}

a = 1.013

Since we have 14 years from 1998 to 2012 (i.e. 2012 - 1998 = 14), we now have:

P(t) = P(14) = World population in 2012 = ?

P(0) = World population in year 0 which is 1998 = 5.937 billion

a = 1.013 as already calculated above

t = 14

Substituting the value into equation (1), we have:

P(14) = 5.937 * 1.013^14

P(14) = 5.937 * 1.192

P(14) = 7.1137 billion

Therefore, the world's population would have been 7.1137 billion in 2012, and this is 0.0437 billion (i.e. 7.1137 - 7.07 = 0.0437) higher compared to the population reference bureau estimate of 7.07 billion in july 2012.

6 0
3 years ago
A person who routinely buys goods in good faith from a person who routinely sells such goods.
Mazyrski [523]
They are considered a buyer in the ordinary course of business.
4 0
3 years ago
Accounts Receivable from sales to customers amounted to $80,000 and $70,000 at the beginning and end the year, respectively. Inc
Kipish [7]

Answer:

$332,000

Explanation:

<u>Cash flow from operating activities</u>

Net Income                                                                                  $252,000

Adjust for changes in working capital items :

Decrease in Accounts Receivable ($80,000 - $70,000            $80,000

Net Cash Provided by Operating Activities                              $332,000

Conclusion

the cash flows from operating activities to be reported on the statement of cash flows is $332,000

5 0
3 years ago
An investor is given the two investment alternatives (Assets A and B) with the following characteristics: Asset Expected Return
kow [346]

Answer:

12.00%

Explanation:

As per the given question the solution of standard deviation of a portfolio is provided below:-

Standard deviation of a portfolio = √(Standard deviation of Product 1)^2 × (Weight 1)^2 + Standard deviation of Product 2)^2 × (Weight 2)^2 + 2 × Standard deviation of product 1 × Standard deviation of product 2 × Weight 1 × Weight 2 × Correlation

= √(0.165^2 × 0.6^2) + (0.068^2 × 0.4^2) + (2 × 0.6 × 0.4 × 0.165 × 0.068 × 0.7)

= √0.009801  + 0.0007398  + 0.00376992

= √0.01431076

= 0.119628592

or

= 12.00%

So, we have calculated the standard deviation of a portfolio by using the above formula.

3 0
3 years ago
Is it true that when you plug your nose and eat, an Apple, and Onion, or ginger, they all taste the same?
Mrrafil [7]

Answer:

No

Explanation:

Just why- why would you ask this?

6 0
3 years ago
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