1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Oksi-84 [34.3K]
2 years ago
10

Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2019 include: beginning inven

tory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sales dur ing the first six months totaled $490,000. The estimated inventory at June 30, 2019, would be:_______.
a. $68,200.
b. $55,000.
c. $71,500
d. $63,250.
Business
1 answer:
Harman [31]2 years ago
4 0

Answer:

A. $68,200

Explanation:

Retail Cost

Beginning inventory $60,000

$120,000

Plus: Net purchases. $312,000

$480,000

Goods available for sale $372,000

$600,000

Cost to retail percentage = $372,000 ÷ $600,000 = 62%

Less : Net sales

($490,000)

Estimated ending inventory at retail

$110,000

Estimated ending inventory at cost

62% × $110,000 = $68,200

You might be interested in
In​ class, we discussed the differences between a contribution income statement versus the traditional approach​ (absorption whi
Irina-Kira [14]
B) Contribution margin
5 0
3 years ago
The power to grant or withhold budget requests of agencies may be one of ________ most potent weapon in controlling the bureaucr
skad [1K]

Answer:

_Congress's_

Explanation:

The power to grant or withhold budget requests of agencies may be one of __Congress's______ most potent weapon in controlling the bureaucracy.

It the Congress who is responsible for the the budget allocation and distribution for the agencies according to The american constitution. This how they control the bureaucracy.  

6 0
3 years ago
TB MC Qu. 6-101 Data concerning Bedwell Enterprises ... Data concerning Bedwell Enterprises Corporation's single product appear
Alexxandr [17]

Answer:

Break-even point in units= 6,547 units

Explanation:

Giving the following information:

Selling price per unit $160

Variable expense per unit $91.50

Fixed expense per month $429,490

Desired profit= $19,000

<u>To calculate the number of units to be sold, we need to use the break-even point formula:</u>

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (429,490 + 19,000) / (160 - 91.5)

Break-even point in units= 6,547 units

4 0
3 years ago
The main functions of human resource management can be categorized into ... A. Line function, management functions, and employee
babymother [125]

Answer:

C. Staff functions, line functions, and coordination functions

Explanation:

Human resource management functions may be classed into : line functions which involves the segment charged with the transition of an organization directly into its daily operational activities such as production, selling marketing and other customer service activities. The Staff functions of the human resource Management refers to advisory support on various activities of the organization which has to do with staffing, recruitment.

Coordination function involves the implementation of strategies which ensures synergy between various departments ensuring the adopting of best strategy to ensure maximum output.

5 0
3 years ago
Oriole Shoes Foot Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with
Leona [35]

Answer:

No journal entries required

Explanation:

According to attorney estimation, the chances of winning the case are certain therefore no journal entry is required for adjustments since the chances of losing the case are very uncertain.

4 0
3 years ago
Other questions:
  • You are given the following information on Parrothead Enterprises: Debt: 9,200 6.4 percent coupon bonds outstanding, with 23 yea
    13·1 answer
  • The general term employed to indicate an expense that has not been paid or revenue that has not been received and has not yet be
    14·1 answer
  • Explain briefly why the private market for public goods is typically characterized by underprovision. Under what situations will
    5·1 answer
  • Suppose that you enter into a three-month forward contract on a non-dividend-paying stock when the stock price is $60 and the ri
    8·1 answer
  • If a rooster lays a egg at the top of a tilting roof which way does the egg go ?​
    10·2 answers
  • When identifying a problem, leaders actively seek to identify its _______________, not merely the symptoms on the surface as sym
    14·1 answer
  • The firm's efficient scale is the quantity of output that minimizesa. average total cost. b. average fixed cost. c. average vari
    8·1 answer
  • Lynn wants to share parts of an essay she wrote in her slide presentation. What is the best way for her to share that text with
    8·2 answers
  • ogan Company owns equipment that cost $140,000 when purchased on January 1, 2018. It has been depreciated using the straight-lin
    10·1 answer
  • Where should a user store frequently used icons on a computer?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!