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Inessa05 [86]
3 years ago
6

Clover Hardware sold a range of products. A few weeks ago, orders arrived for the garden center and outdoor living areas. 500 gr

ills, purchased at a cost of $75 each, were distributed among 10 locations. 200 were sold for $175 each across all locations. The cost of goods sold totals __________.
Business
1 answer:
masya89 [10]3 years ago
7 0

Answer:

COGS= $15,000

Explanation:

Giving the following information:

Purchase= 500 grills

Unitary cost= $75

Units sold= 200

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 0 + 500*75 - 300*75

COGS= $15,000

or;

COGS= 200*75= $15,000

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What will NOT cause a shortage?
sweet-ann [11.9K]
<h3>Answer: D) increase in prices</h3>

An increase in prices will reduce demand, and not supply. You could have an increase in prices due to a shortage, but price increases could also be from a number of other factors, one of which is demand increasing.

Meanwhile, war, scarcity and extreme weather all are possible factors of a shortage. So we can cross choices A,B,C off the list.

5 0
3 years ago
Ferdinand’s employer will match 50% of his $250 monthly contributions to his 401(k). This means that Ferdinand’s employer will p
irina [24]

Answer and Explanation:

The computation of the given question is shown below:-

Total Contributions = Monthly contribution + Amount invested in Ferdinand’s 401(k)

= $250 + $125

= $375  

1. Future Value = PMT [((1 + r)n - 1) ÷ r

Future value = 375 × ((1 + 0.03 ÷ 12) × 12 × 40 - 1) ÷ (0.03 ÷ 12)

= $347,272

2. Ferdinand deposit = Given Amount × Total number of months in a year × Number of years

= $250 × 12 Months × 40 Years

= $120,000

3. The Amount put in by the employer = 50% of $250 ×Total number of months in a year × Number of years

= $125 × 12 Months × 40 Years

= $60,000

4. Interest = Future value - Ferdinand deposit - The Amount put in by the employer

= $347,272 - $120,000 - $60,000

= $167,272

We simply applied the above formulas

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3 years ago
Why do large media companies have so much control
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Answer: Big Tech companies thrive on consumer data.

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2 years ago
Hibiscus Corporation began operations on January 1, Year 1. On December 15, Year 1, the company received a payment in the amount
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Answer:

$12,000

Explanation:

The main difference between cash basis accounting and accrual accounting is that accrual accounting recognizes revenue only after the earning process is completed. On the other hand, cash basis accounting recognizes revenue and expenses when the money is received or paid, regardless of when the service is provided. This is why the US GAAP doesn't allow cash basis accounting.

The IRS allows cash basis accounting for individuals and small businesses that only deal with cash payments, but they must meet certain criteria:

  • partnerships or C corporations with less than $5 million in yearly revenue
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