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Nat2105 [25]
3 years ago
9

Tamarisk has the following inventory data:

Business
1 answer:
DerKrebs [107]3 years ago
5 0

Answer:

Option A

Total cost of goods sold = $<u>1,007.7</u>

Explanation:

<em>Under the last -in-first-out (LIFO) method, inventory are priced using the price of the newest/latest batch in stock until a new batch is received after which the price of the new batch is used and this is continued.</em>

So we apply the principle as follows:

                                                               $                

July 14 sale of 83 units = 83× 6.90 = 572.7

July 30 sale of 58 units = 58× 7.50 = <u>435</u>

Total cost of goods sold                     <u>1,007.7</u>

Total cost of goods sold = $1,007.7

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Rhett made his annual gambling trip to uwin casino. on this trip rhett won $250 at the slots and $1,200 at poker. also this year
SIZIF [17.4K]

Answer:

Gross income=(1450-700)=$750

Explanation:

Gross income is the total earning before any taxes or deductions

In this case;

Gross income=Winnings-Losses

where;

Winnings=Slots+poker=(250+1200)=$1450

Losses=racetrack=$700

Replacing;

Gross income=(1450-700)=$750

5 0
3 years ago
Nicole owns a small organic spice company called RaisaSpice and was looking for a new product to add to her company's line. A fr
DENIUS [597]

Answer:

Market Testing Stage

Explanation:

This was a new venture for Nicole. She wanted to try something new for the first time as compared to the normal business routine she had. So, she took the advice of her friend and combined spices after which, she distributed a first batch to grocery stores in Portland Seattle. She did this to test her product, to see how well customers would take this innovation. The feedback gained from the grocery stores she supplied to will be a determinant if she should continue mass production or not. That point is what we call Market testing stage.

6 0
3 years ago
If a Starbucks tall latte cost $3.20 in the United States and 3 euros in the Euro area, then purchasing-power parity implies the
Nataliya [291]

Answer:

a. .938 If the exchange rate is less than this, it costs more dollars to buy a tall latte in the U.S. than in the Euro area.

Explanation:

We can see in the example that the Euro is cheaper than the dollar in purchasing-power parity. More specifically, the exchange rate is .938 euros per dollar.

This is why it is more expensive to buy a tall latte in the U.S. than in Europe. The Euro is cheaper.

5 0
3 years ago
You own a portfolio that has $2,800 invested in Stock A and $3,900 invested in Stock B. Assume the expected returns on these sto
Luden [163]

Answer:

12.5%

Explanation:

A portfolio has $2,800 invested in stock A

$3,900 is invested in stock B

The expected return of stock A is 9%

= 9/100

= 0.09

The expected return of stock B is 15%

= 15/100

= 0.15

The first step is to calculate the total value

= $2,800+$3,900

= $6,700

Therefore, the expected return on the portfolio can be calculated as follows

= (2,800/6,700)×0.09 + (3,900/6,700)×0.15

= 0.4179×0.09 + 0.5820×0.15

= 0.03761 + 0.0873

= 0.1249×100

= 12.5%

Hence the expected return on the portfolio is 12.5%

7 0
3 years ago
the initial valuation of purchased intangible assets requires that the intangible asset is recorded at
bixtya [17]

Answer: original cost

Explanation:

7 0
3 years ago
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