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tigry1 [53]
3 years ago
6

On January 1, 2021, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method. Beginning inventory at cost

and at retail were $120,000 and $256,200, respectively. Net purchases during the year at cost and at retail were $738,400 and $912,000, respectively. Markups during the year were $11,000. There were no markdowns. Net sales for 2021 were $877,850. The retail price index at the end of 2021 was 1.05. What is the inventory balance that Coldstone would report in its 12/31/2021 balance sheet?
Mathematics
1 answer:
Bond [772]3 years ago
3 0

Answer:

10

Step-by-step explanation:

5 watermarks

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Step-by-step explanation:

Each term of the given sequence is 2 times the previous term. (This description is the basis of the recursive formula.) That is, the terms of the given sequence have a common ratio of 2. This means the sequence is geometric, so the formulas for explicit and recursive rules for a geometric sequence apply.

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<h3>(a)</h3>

The recursive rule is ...

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__

<h3>(b)</h3>

The explicit rule is ...

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__

<h3>(c)</h3>

The 15th term is ...

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