Answer:
Sheridan Company
The correct amount of inventory that Sheridan should report is:
= $367,100
Explanation:
a) Data and Calculations:
December 31 Inventory based on physical inventory = $320,800
Goods held on consignment by Herschel = 46,300
December 27, FOB destination goods ($22,000) 0
Correct amount of inventory that Sheridan should report $367,100
b) Goods on consignment are generally the property of the consignor (supplier) and not the consignee's (retailer's). Therefore, they must appear in the balance sheet of the consignor. Goods on FOB destination remain the property of the supplier until they reach the buyer's destination. This is why it is not included above.
Answer:
The price elasticity of supply is the percentage change in quantity supplied divided by the percentage change in price. Elasticities can be usefully divided into five broad categories: perfectly elastic, elastic, perfectly inelastic, inelastic, and unitary.
Explanation:
<span>The marginal product of the previous coach would have been negative because the removal of the last coach improved the performance of the runners which had decreased owing to negative marginal product of the coach.</span>
Answer:
Total= $77,153
Explanation:
Giving the following information:
Cullumber, Inc., management expects the company to earn cash flows of $12,900, $16,300, $18,600, and $19,800 over the next four years.
The discount rate is 10%.
To calculate the future value, we need to use the following formula for each cash flow:
FV= PV*(1+i)^n
Cf1= 12,900*1.1^3= 17,169.9
Cf2= 16,300*1.1^2= 19,723
Cf3= 18,600*1.1= 20,460
Cf4= 19,800
Total= $77,153
