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rosijanka [135]
2 years ago
8

Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date w

as $550,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Inventory at Current Date Current Prices Price Index December 31, 2014 $642,000 107 December 31, 2015 725,000 125 December 31, 2016 812,500 130 What is the cost of the ending inventory at December 31, 2014 under dollar-value LIFO
Business
1 answer:
Murrr4er [49]2 years ago
3 0

Answer: $603,500

Explanation:

Ending inventory in 2014;

= Ending inventory balance 2013 + ((\frac{Inventory current price 2014}{Price index 2014} * 100) - ending inventory 2013)) * Price index 2014/100

= 550,000 + ((\frac{642,000}{107}* 100) - 550,000)) * 107/100

= $603,500

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Suppose there are only three firms in a market. The largest firm has sales of $500 million, the second-largest has sales of $300
belka [17]

Answer:

50% share.

Explanation:

Given:

There are only three firms in a market.

The largest firm has sales of $500 million.

The second-largest has sales of $300 million.

The smallest has sales of $200 million.

Question asked:

The market share of the largest firm is ?

Solution:

As we know:

Market\ share=\frac{Total\ sales\ of\ the\ firm}{Total\ sales\ of\ the \ market} \times100

Total sales of the largest company = $500 million.

Total sales of the market = Sales of largest firm + Sales of second largest firm+ Sales of smallest firm

Total sales of the market = $500 million + $300 million + $200 million

                                          = $1000 million

Market\ share=\frac{Total\ sales\ of\ the\ firm}{Total\ sales\ of\ the \ market} \times100

                       =\frac{500}{1000} \times100\\ \\ =\frac{50000}{1000} \\ \\ =50\%

Therefore, the market share of the largest firm is 50%.

7 0
3 years ago
The Federal Trade Commission (FTC) is a government agency that issues rules, orders, and decisions. The Georgia state legislatur
fomenos

Answer:

c)

Explanation:

Administrative law is the body of law that controls all of the activities as well as the administrative agencies of a specific government. Administrative law includes the rules, orders, and decisions of the Federal Trade Commission. This branch of public law can also enforce certain regulatory agenda that has already been made.

4 0
2 years ago
You are driving your car and there is a motorcyclist ahead of you, riding in the left part of your
gregori [183]

Answer:

Lane splitting is riding a bicycle or motorcycle between lanes or rows of slow moving or stopped traffic moving in the same direction. It is sometimes called whitelining, or stripe-riding. This allows riders to save time, bypassing traffic congestion, and may also be safer than stopping behind stationary vehicles.

Explanation:

8 0
3 years ago
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True or false an important measure of a countrys ecnomic health is its standard of living
blondinia [14]

I believe its true but you should probably get a 2nd opinion

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3 years ago
Which questions about risk should someone ask before making a big purchase? Check all that apply.
ArbitrLikvidat [17]

Answer:

what problems are most likely to happen?

Explanation:

if this is asked beforehand we can know what problems the product wool have

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1 year ago
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