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Marrrta [24]
3 years ago
11

The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $52.00 First

purchase 19 units at $53.00 Second purchase 25 units at $28.00 Third purchase 18 units at $65.00 The firm uses the periodic system, and there are 21 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the average cost method
Business
1 answer:
ycow [4]3 years ago
6 0

Answer:

$986.39

Explanation:

Given :

Value of items in inventory :

(7 * $52) + (19 * $53) + (25 * $28) + (18 * $65) = $3241

Number of items in inventory :

(7 + 19 + 25 + 18) = 69 units

Weighted average inventory cost :

$3241 / 69 = $46.971014

Number of commodity in hand at year end = 21 units

Amount of inventory at year end using average costing method :

Number of commodity * Average inventory cost

(21 * $46.971014) = $986.39

The amount of inventory at the end of the year according to the average costing method is $986.39

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Answer: elastic

Explanation:

Elastic demand is a demand that occurs when the quantity demanded for a product or service results in a greater percentage change when there is a change in price.

For example, when there's a fall in price, this will lead to large change in quantity demanded for the good. Since there's an increase in the quantity demanded, it will lead to increase in revenue.

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4 years ago
A credit card company wants your business. If you accept their offer and use their​ card, they will deposit 11​% of your monetar
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Answer:

I will have $183536835400 in my savings after 1515 years

Explanation:

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Total amount in savings plan after 1515 years = $220002200 + $183316833200 = $183536835400

3 0
3 years ago
In one of the case studies in the textbook, Marcus Lane, a geologist for an environmental management and engineering services fi
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Answer: The internal auditor discovered it when performing a routine audit of expense reimbursements

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He used cheaper ticket for the actual flight and more expensive ticket was returned for credit. But, he submitted the expensive ticket for reimbursement.

The fraud was discovered by the internal auditor while doing a routine audit of expense reimbursements. He was terminated and he agreed to pay the money back.

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4 years ago
Yakov, Ana, and Dina want to bake a cake. They are choosing among chocolate cake (C), vanilla cake (V), and red velvet cake (R).
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Answer:

The specified preferences of Charles, Diana and Juanita. Charles and Juniata prefer chocolate over red velvet cake. Dina favors red velvet over chocolate.

So, when there is voting among red velvet and chocolate cake, the majority will select the Chocolate cake and among winner and vanilla majority will vote for Vanilla cake.

This is because Dina and Juanita favor vanilla over chocolate.

Among Chocolate and vanilla cake, the majority will elect for vanilla and among this winner and red velvet cake, the majority will choose for Red velvet cake.

This is because Diana and juanita favor vanilla over chocolate. So, vanilla cakes get majority elects. When there is voting among vanilla and red velvet , red vanilla acquire majority votes as charles and dina favor red velvet over vanilla.

The statement is False. The preferences are not transitive.

In the first situation chocolate is chosen to vanilla and red velvet is preferred to vanilla. Although, in the second situation, chocolate is favored to red velvet and vanilla is preferred to chocolate. Thus, the preferences do not exhibit transitivity.

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3 years ago
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