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Darina [25.2K]
3 years ago
7

On August 31, a hurricane destroyed a retail location of Carla Vista's Clothier including the entire inventory on hand at the lo

cation. The inventory on hand as of June 30 totaled $1895000. Since June 30 until the time of the hurricane, the company made purchases of $495000 and had sales of $1480000. Assuming the rate of gross profit to selling price is 40%, what is the approximate value of the inventory that was destroyed
Business
1 answer:
IrinaK [193]3 years ago
5 0

Answer: $1,502,000

Explanation:

The destroyed stock is the closing stock on August 31.

Cost of Goods sold = Opening stock + Purchases - Closing stock

Closing stock = Opening stock + Purchases - Cost of Goods sold

Opening stock = $1,895,000

Purchases = $495,000

Gross profit is 40% of sales so Cost of Goods sold must be 60%;

= 60% * 1,480,000

= $888,000

Closing stock = 1,895,000 + 495,000 - 888,000

= $1,502,000

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from Intelligent’s point of view, this bond would be considered a current asset, because it represents a resource that can easily be converted to cash within one year.

A bond is a debt instrument. A bondholder is entitled to regular predetermined interest rate payments and at the end of the bond's tenure, the bondholder would receive the amount invested.

Current assets are assets that are expected to be sold, used, or exhausted through standard business operations with one year.

Examples of current asset are:

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To learn more, please check: brainly.com/question/14287268

5 0
2 years ago
You are confronted by an angry customer who feels they deserve special treatment outside of your normal customer service policy.
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Answer:D.

maintain a concerned expression

Explanation:

One of the main traits of a successful Custer service agent is empathy. When the customer is angry and one isaintaining a happy or pleaseant face, he will interprete it as lack of concern for his plight.

The best expression is to maintain a concerned expression that shows you sympathise with his situation and you have personalised the situation.

This sympathy is expressed as doing your best to effectively solve the customer problem.

7 0
3 years ago
Which of the following bases of power emphasizes threatening or actual punishment?
gizmo_the_mogwai [7]
<h2>Hello!</h2>

The answer is C. Coercive.

<h2>Why?</h2>

According to the bases of power, coercive power means that someone can punish someone who deserves it when it's needed, punishment can be just punishment but it can also mean serious actions as demoting, restricting privileges or in the last instance, firing people.

Coercive power can be a problem if it's applied to everyone, every time, the result of coercive actions applied in an inappropriate way could result in useful people resignations. That's why coercive tools are the last resort if corrections are needed.

Have a nice day!

6 0
3 years ago
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Solution:

The total cost for the company is the sum of its fixed cost and variable costs.

Corporate expenditures that do not depend on the amount of goods or services provided by the company are fixed costs.

Variable costs are expenses that change when changes occur in the sum of the good or service produced by a company.

C(x) = 90000 + 100x

C(110) = 90000 + 100 ( 110 )

C(110) = 90,000 + 11, 000 = 101,000

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4 0
3 years ago
Rational choice theorists would define the behavior of corporate executives who outsource many jobs to countries where the cost
STALIN [3.7K]

Answer: Instrumental

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Rational choice theory, is a school of thought which is based on the assumption that individuals will choose a course of action which goes in line with what they personally prefer.

For the instrumental rationality, it has to do with looking for the most cost effective method in order to achieve a particular objective. Therefore, the behavior of corporate executives who outsource jobs to other countries where labor cost is cheaper than in the United States is defined as being instrumental.

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3 years ago
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