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anzhelika [568]
3 years ago
5

Gabel Inc. is a merchandising company. Last month the company's merchandise purchases totaled $63,000. The company's beginning m

erchandise inventory was $13,000 and its ending merchandise inventory was $15,000. What was the company's cost of goods sold for the month
Business
1 answer:
pshichka [43]3 years ago
7 0

Answer:

Gabel Inc.

The company's cost of goods sold for the month is:

$61,000

Explanation:

a) Data and Calculations:

Beginning inventory =     $13,000

Purchases                         63,000

Goods available for sale  76,000

less Ending inventory      15,000

Cost of goods sold        $61,000

b) A company's cost of goods sold is the difference between the cost of goods available for sale and its ending inventory of merchandise.  This implies that the company allocates the cost of goods available for sale (which is the function of the beginning inventory and the purchases made during the period) between the cost of goods sold and the cost of the ending inventory based on the inventory valuation method in use.

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The correct option is (A) central bank prints more money.

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The health of the financial system, as well as economic and monetary policy, are all under the control of central banks. These organisations regulate a nation's money supply and set interest rates. One of the most potent central banks in the world is the U.S. Federal Reserve.

Disclaimer

When governments are borrowers in financial capital markets, which of the following is least likely to be a possible source of the funds from a macroeconomic point of view?

A. central bank prints more money

B. increase in household savings

C. decrease in borrowing by private firms

D. foreign financial investors

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2 years ago
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Do the Math 3-3 Ratio Analyses Use the following balance sheet and cash flow statement information to answer the questions below
LUCKY_DIMON [66]

Answer:

Liquidity Ratio = 3.33

Asset to Debt ratio = 1.94

Debt to Income ratio = 95.57%

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Explanation:

Liquidity Ratio = [ Liquid Assets ] ÷ [ Short Term Debt ]

= $14,000 ÷ $4,200

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Asset to Debt ratio = [ Total Assets ] ÷ [ Total debt ]

= $319,000 ÷ $164,200

= 1.94

Debt to Income ratio = [  Total Debt ] ÷ [ (Gross Income + Disposable income -expenses) ]

= $164,000 ÷ [ ($13,000 + $6800 - $5500) × 12 ]

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Question 5(Multiple Choice Worth 4 points)
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