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gogolik [260]
3 years ago
15

A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $58; Sec

ond purchase $69; Third purchase $70. If the company sold two units for a total of $215 and used FIFO costing, the gross profit for the period would be
Business
1 answer:
Effectus [21]3 years ago
6 0

Answer:

like 412 or sum

Explanation:

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Bob, a restaurant and equipment business manager, believes in the economic model of social responsibility. Which of the followin
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Economic model is the answer of this question

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Select the correct answer.
valkas [14]

Answer: The answer would be C. Collective bargaining

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Many businesses find blogging a valuable tool for communicating with employees, customers, and the larger public. Knowing how to
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Hope this helps!  :)

3 0
4 years ago
EA3.
icang [17]

Answer:

3,000 units and 1,950 units

Explanation:

For computing the equivalent units of ending work in process for materials and conversion cost, first we have to determine the ending work in process units which is shown below:

Ending work in process units = Beginning inventory + units started - units completed and transferred

= 2,500 units + 18,000 units - 17,500 units

= 3,000 units

Now the equivalent units of ending work in process for materials would be

= 3,000 units × 100%

= 3,000 units

And, for conversion cost it would be

= 3,000 units × 65%

= 1,950 units

3 0
3 years ago
Franco and Giada are trying to calculate their gross income. Which of the following items should they exclude from their gross i
Helga [31]

Answer:

1 and 2

Explanation:

Gross profit is earning a business makes from its normal operation before considering operating expenses. It is calculated by subtracting direct costs from the revenues. Direct costs are the expenses incurred in acquiring the goods and services sold to customers. Revenue from normal business operations is the income from the sale of goods and services, and other business-related activities.

For Franco and Giada, they should not include items 1 and 2 in gross profits.

  • Item 1 is money inherited. It is income but not from the business operations.
  • Item 2 is a loan a bank loan. Loans are not considered in the income statement but are featured in the balance sheet.

Items 3 and 4 will be featured in the gross profit calculation. Item 3 is an income from a sale, while item 4 is a miscellaneous income from a loan issued out.

3 0
3 years ago
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