Answer:
The nominal annual percentage cost of its non-free trade credit, based on a 365-day year is 0.2795%
Explanation:
The computation of the nominal annual percentage is shown below:
= Discount rate ÷ (100 - discount rate) × ({Total number of days ÷ payable days} - discount days)
= 2% ÷ ( 100 - 2%) × (365 days ÷ 65 days - 15 days)
= 2% ÷ (98% × 7.3)
= 2% ÷ 7.154
= 0.2795%
The net purchase amount is irrelevant. hence, this part is ignored
Supply of oil at different prices of other goods.
Answer:
B. Scalping tends to be prevalent when there is a shortage of tickets.
Explanation:
Ticket scalping -
It is the method of buying the tickets of any event or show and then selling them at a much higher price to another person , is known as the process of ticket scalping .
It is an illegitimate practice .
Hence , during the shortage of ticket , the process of ticket scalping is increased .
Hence , the correct statement regarding Ticket scalping , is ( B. ) .
Answer:
Company 1 is most likely to have lost sales due to an inventory shortage.
Explanation:
Inventory turnover is the ratio that how many time a business has sold or replaced the inventory during a given period. A business is considered more profitable if it has high inventory turnover.
Company with highest Inventory turnover may lost sales due to inventory shortage. Company 1 1 has the highest inventory turnover of 46.3. Which may lead to to the shortage of stock because the inventory in stock is more likely to sold earlier than other companies. High inventory turnover will lead to low inventory days.
Cost of inventory destroyed in fire is $1,140,000
<u>Explanation:</u>
The loss from fire to inventory can be calculated by finding the cost of the inventory on the may 4 , 2021.
Cost of sales = Sales – profit on sales
= 9000000-1800000
=$7200000
The value of inventory on the may 4 = opening inventory on January 1 + purchases + freight in – cost of sales
=1980000+5880000+480000-7200000
=$1,140,000
Cost of sales is referred to the amount that is incurred in producing the goods. Cost of sales is included in the sale price of the product to earn a profit beyond the cost. So sales includes cost and profit which can be used to find the cost of sales.
