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alexandr402 [8]
3 years ago
9

The accounting records of Whispering Winds Corp. show the following data. Beginning inventory 3,010 units at $6 Purchases 8,130

units at $8 Sales 9,090 units at $11. Determine cost of goods sold during the period under a periodic inventory system using the FIFO method, the LIFO method, and the average-cost method.
Business
1 answer:
Sindrei [870]3 years ago
7 0

Answer:

$66,700

b. LIFO = $70800

67807.81

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

(8130 x 8) + [(9090 - 8130) x 6) = 70800

FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold

(3010 x 6) + [(9090 - 3010) x $8] = 66,700

Average cost = [(3010 x 6) + (8130 x 8)] /

18060

48640

b 65040

5760

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Answer:

C) marginal revenue in the price-elastic market exceeds marginal revenue in the price-inelastic market

Explanation:

Marginal revenue will increase as the price elasticity of demand increases. When marginal revenue is positive, the demand is elastic, when marginal revenue is negative, the demand is inelastic.

Therefore if the company sets the same price for different markets, the marginal revenue will be higher where the price elasticity of demand is higher (more elastic). But it will be lower where the price elasticity of demand is lower (more inelastic).

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3 years ago
Provide an example of two companies that have built in effective co-opetition. Briefly explain the benefit of the relationship d
DanielleElmas [232]

Answer:

Microsoft and Apple, Samsung and sony.

Explanation:

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5 0
3 years ago
Matthias Corp. had the following foreign currency transactions during 2017:
Ronch [10]

Answer:

$7,300 loss

Explanation:

The computation of the net foreign exchange gain or loss included in the income statement is shown below:

Since the merchandise purchased value is $62,900

And, the paid amount is $53,200

So, the gain on transaction is

= $62,900 - $53,200

= $9,700

The borrowed amount is $305,000

And, the principal amount is $322,000

So, the loss is

= $305,000 - $322,000

= $17,000 loss

So in this case $7,300 loss is included which is a difference of $9,700 and $17,000

4 0
3 years ago
On August 1, 2022, Burdick Co. issued bonds with a face value of $600,000. The bonds carry a stated interest rate of 8%; interes
xz_007 [3.2K]

Answer:

$620,000

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the clean price of a bond refers to the price of the bond without any type of accrued interest, i.e. the price that the issuer would receive if it sold them at the same date that they were issued.

The dirty price includes both the clean price plus any accrued interest

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3 years ago
An indifference curve shows the various bundles of goods that:_________ A. all cost the same amount of money. B. make the consum
erica [24]

Answer:

B. make the consumer equally happy.

Explanation:

An indifference curve can be defined as the graphical representation of two products (commodities) that gives a customer equal utility and satisfaction and as such making him or her indifferent about them as they are equally happy.

Hence, an indifference curve shows the various bundles of goods that make the consumer equally happy.

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3 years ago
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