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shtirl [24]
3 years ago
6

A physical count of merchandise inventory on November 30 reveals that there are 96 units on hand. Cost of goods sold (rounded) u

nder FIFO is
Business
1 answer:
dedylja [7]3 years ago
5 0

Answer: $1,712

Explanation:

If the company uses FIFO it means that they sell their earlier inventory first. If there are 96 units on hand, it means that these 96 units would be the latest inventory.

That means that these 96 units comprise of:

  • 86 units purchased on November 25 at $6.30 each and,
  • 10 units from the November 17 purchase of 58 units at $6.05 each which means 48 units were sold from this purchase.

The units sold were therefore:

= (29 * 5.80) + (115 * 6.20) + (48 * 6.05)

= 168.20 + 713 + 290.40

= $1,171.60

= $1,712

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Which of the following factors has the LEAST influence on an individual’s core belief system? a. Physical appearance c. Religiou
loris [4]

Answer:

a. Physical appearance

Explanation:

The Physical appearance of a person is as a result of the genetic make up of the individual. This factor barely has an influence on an individual’s core belief system.

Religious background is a key element of individual’s core belief system as it forms the basis of one's belief about God, life, fate and destiny.

Family upbringing forms the basis of one's belief as the individual grows. The influence of the members of a family forms a part of the individual's core belief.

Life experiences as well forms a key part of our belief system and the same goes for personality.

3 0
3 years ago
Identify the four major requirements necessary for a free-market system to operate.
g100num [7]

The free market<span> is defined as the system in which the price of goods is agreed upon by consent between sellers and consumers, through the laws of supply and demand.  Their requirements are the existence of free competition, (which in turn requires that among the participants of a commercial transaction there is no coercion, no fraud, or more generally, that all transactions are voluntary), c</span>omplete universal information about the products and their prices, a free medium of exchange with a common currency, reasonable transaction costs,  set of sellers and a set of buyers.

7 0
3 years ago
Under what condition will a monopoly firm incur losses?
Readme [11.4K]
<span>A monopoly would have to make it so the marginal revenue is less than the marginal cost, and in return, the monopoly would end up losing money instead of gaining money. This means that they are spending more money than they are making.</span>
3 0
3 years ago
The following transactions were made by Ruby Inc. last year:
Juliette [100K]

Answer:

OPtion (C) is correct.

Explanation:

Given that,

Issuance of common stock = $100,000

Dividends paid to the company's stockholders = $2,000

Depreciation expense = $6,000

Repayment of principal on bonds = $40,000

Proceeds from the sale of the company's used equipment = $39,000

Purchase of land = $230,000

Cash flow from financing activities:

= Issuance of common stock - Dividends paid to the common stockholders - Repayment of principal on the company's own bonds

=  $100,000 - $2,000 - $40,000

= $58,000

Therefore, the net cash inflow from financing activities is $58,000.

8 0
3 years ago
Automated retailing occurs when a consumer goes into a store to learn about different brands and products and then searches the
Grace [21]

Answer:

False

Explanation:

The scenario described above is called Showrooming, where customers just go to a store to find out about various products. They do not buy and look for alternative cheap options.

On the other hand, automated retailing occurs when products are stored in a machine that can dispense to customers.

An example is a soda vending machine.

5 0
3 years ago
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