Can identity theft occur through legitimate access to your personal information? Explain.

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows

IgorLugansk [536]

Answer:

$36,750

Explanation:

Calculation to estimate the ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method

LIFO retail method

($) Cost ($) Retail

Beginning inventory $33,210 $43,000

Add purchases $249,510 $470,000

Freight in $26,500 $0

Less: purchase returns ($6,300) ($22,000)

Purchase discount ($4,800) $0

Add net marks up $0 23,000

Less: net mark downs $0 ($22,000)

Goods available for sale (excluding beginning inventory) $264,910 $449,000

(298,120 -33,210=264,910)

(492,000-43,000=449,000)

Goods available for sale (Including beginning inventory) $298,120 $492,000

Cost to retail ratio 59%

[(264,910/449,000) *100]

Less: net sales

Sales $446,500 $0

Sales return $8,000 ($438,500)

($446,500-$438,500=$8,000)

Employee discount $0 ($4,500)

Estimated ending inventory at retail $0 $49,000

Estimated ending inventory at cost $36,750

[ 33,210 +(49,000 -43,000)*59%]

Therefore the Estimated ending inventory at cost is $36,750

7 0

3 years ago

Which of the following statements is NOT true? America's economy is becoming much less American. Markets are shifting slowly and

valentinak56 [21]

Answer:

<h2>The first statement in the answer choices or options given in the question is NOT true in this case or America's economy is becoming much less American.</h2>

Explanation:

In this instance, the first statement given in the answer choices or America's economy is becoming much less American seems untrue or rather meaningless or baseless statement.
First,saying that American economy is becoming less American doesn't apparently make any logical sense as American economy refers to a particular country's economy which is America. Furthermore, American economy is not any official theoretical classification or a type of economy such as a market economy,capitalist economy,mixed economy,socialist economy and so on.
Even if some people might refer to American economy as a predominantly capitalistic economic structure,the given statement appears to be untrue as there is no logical or practical evidence to suggest that the American economy is indeed becoming less capitalistic or market oriented.

4 0

3 years ago

Adel wants to get $100 immediately to pay for concert tickets. He currently has no cash or income, but he has a nice gold watch

mojhsa [17]

Adel could easily just pawn the watch from cash but might not have a 500$ even, I say its B.

3 0

3 years ago

The records of Lohse Stores included the following data:

Orlov [11]

Answer:

$9,360

Explanation:

Cost Retail Ratio

Inventory, May 1 $10,440 $14,500 .72

Purchases 31,550 42,900

Freight-in 2,000

Purchase discounts (250)

Net markups 3,400

Net markdowns (1,300)

Totals excluding

beginning inventory 33,300 45,000 .74

Goods available $43,740 59,500

Sales (46,500)

Inventory, May 31 $13,000

Estimated inventory,

May 31 ($13,000 × .72) $ 9,360

8 0

4 years ago

Your company manufactures and sells a variety of personal care products such as hair dryers and curling irons. Every hair dryer

sleet_krkn [62]

Answer:

Product Implied Warranty

According to the Uniform Commercial Code, a product warranty guarantees that a product will work when used for its intended purposes. There are two key types of implied warranties: merchantability and fitness. The implied warranty of merchantability states that a product will meet reasonable expectations of the buyer. The implied warranty of fitness means that the product will meet the buyer's intended use.

Based on the above, we can conclude that the implied warranty of merchantability actually exists for the hair dryer. However, Patrick clearly violated it in this situation through the accident of dropping it in water.

Having thus violated the warranty, he cannot reasonably recover any damages from the company.

Explanation:

a) Facts of the case:

1. Every hair dryer is properly labeled and contains safety precautions against misuse.

2. The SF9000 hair dryer that Patrick purchased functioned properly for a month.

3. Patrick accidentally drops the hair dryer in water, causing him an electric shock.

4. Patrick sues for breach of the implied warranty of merchantability.

5 0

3 years ago