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riadik2000 [5.3K]
3 years ago
10

A physical count of merchandise inventory on July 30 reveals that there are 180 units on hand. Using the FIFO inventory method,

the amount allocated to ending inventory for July is
Business
1 answer:
Nookie1986 [14]3 years ago
8 0

Answer: $3,708

Explanation:

Using FIFO means that the earlier goods are sold before the later ones so the closing inventory would have the latest goods purchased.

If there are 180 units on hand, the cost would be:

  • 54 units purchased at $22
  • (180 - 54) units purchased at $20

Closing inventory is:

= (54 * 22) + ( (180 - 54) * 20)

= (54 * 22) + ( 126 * 20)

= $3,708

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The correct answer is letter "C": People place a higher value on a good if they own it than they do if they are considering buying it.

Explanation:

The Endowment Effect reflects a situation in which people value an object more because they own it. The value they would give the object if they did not have it and were going to purchase it would be lower. This scenario takes place when people give a higher value to their objects because of emotional attachment.

4 0
3 years ago
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The Correct 1 unit and 15 units are the outputs produced by domestic and foreign producers with free trade assuming there is no tariff.

<h3>What is a free trade?</h3>

This refers to an international business policies that occurs when goods and services can be bought and sold between countries without tariffs, quotas or other restrictions being applied.

This policy tends to increase the volume of international trade among member countries and also allow them to increase their specialization in their respective comparative advantages.

Hence, in the graph given, the Correct 1 unit and 15 units are the outputs produced by domestic and foreign producers with free trade assuming there is no tariff.

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1 year ago
The firm's policy is to have finished goods inventory on hand at the end of the month that is equal to 70 percent of the next mo
Dahasolnce [82]

Answer:

\left[\begin{array}{ccccc}& &September&October&November\\&$sales&6000&6800&5600\\&$Desired ending&4760&3920&4270\\&$Total Needs&10760&10720&9870\\&$beginning&4200&4760&3920\\&$Production Requirement&6560&5960&5950\\\end{array}\right]

MISSING INFORMATION ATTACHED

Explanation:

\left[\begin{array}{ccccc}& &September&October&November\\&$sales&6000&6800&5600\\&$Desired ending&4760&3920&4270\\&$Total Needs&10760&10720&9870\\&$beginning&4200&4760&3920\\&$Production Requirement&6560&5960&5950\\\end{array}\right]

The sales forecasted plus the desired ending inventory is the complete needs the sales department expect to be fullfill

Then, as the company has a beginning invneotry each period a portion of this needs is already fullfil thus, the difference are the production requirements.

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3 years ago
In what way did the cotton gin contribute to the dramatic rise in production?
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B I believe this is the right answer
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3 years ago
When a company determines the most likely people to buy its product are 20-27 year old middle class women, it is
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When a company determines that a group of people of certain age range and gender will likely buy its product, it is finding its: <em>potential customers/market target.</em>

Every product has a specific group of people that share similar characteristics that it can meet their needs. The unique needs of that group of people is what companies and producers focus on to exploit in creating product and marketing strategy for.

Such unique group of people constitute the market target or potential customers for such product.

Therefore, when a company determines that a group of people of certain age range and gender will likely buy its product, it is finding its potential customers/market target.

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