1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nata0808 [166]
3 years ago
6

Mogul Company ships merchandise to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attem

pt to sell the merchandise, and in return, Mogul will pay to Ski Outfit a 15% sales commission on any merchandise sold. During the year, Mogul ships inventory with a cost of $100,000 to Ski Outfit. By the end of the year, $76,000 of the merchandise has been sold to customers for a total of $105,800. What amount of inventory will Mogul report at year end
Business
1 answer:
Juliette [100K]3 years ago
7 0

Answer:

$24,000

Explanation:

According to the consignment accounting, it States that any inventory sent on consignment by the consignor to the consignee, belongs to the consignor until the inventory is sold by the consignee.

Regarding the above, Mogu company sent inventory costing $100,000 and out of this, only $76,000 has been sold. The remaining inventory still belongs to the consignor and the amount of this inventory is;

$100,000 - $76,000 = $24,000

Therefore, Mogul would report $24,000 worth of inventories at year end.

You might be interested in
A project initially costs $40,500 and will not produce any cash flows for the first 2 years. Starting in Year 3, it will produce
melisa1 [442]

Answer:

Net present value = $2063.1922

Explanation:

given data

initially costs = $40,500

cash flows = $34,500

final cash inflow = $12,000

required rate of return = 18.5 percent

solution

The cash flows is  

Year 0 =  $40500

Year 1 = $0

Year 2 = $0

Year 3 = $34500

Year 4 = $34500

Year 5 = $0

Year 6 = $12000

so  Net present value will be express as

Net present value = -Initial cash outflow + Present value of future cash flows ...............1

Present value of future cash flows = (cash flow in year n) ÷ (1 + required rate of return)^t   ..........................2

put here value we get

Present value = \frac{0}{(1+0.185)^1} + \frac{0}{(1+0.185)^2} + \frac{34500}{(1+0.185)^3} + \frac{34500}{(1+0.185)^4} + \frac{0}{(1+0.185)^5} + \frac{12000}{(1+0.185)^6}    

Present value = $42563.1922    

Net present value= -$40500 + $42563.1922

Net present value = $2063.1922

8 0
3 years ago
Use this with "kind."<br> True<br> False
Licemer1 [7]
That makes no since ..
3 0
2 years ago
Read 2 more answers
1. Which of the following are the primary functions of all organizations? A) Production/Operations, Marketing, and Human Resourc
katrin2010 [14]

Answer:

D) Marketing, Production/Operations, and Finance/Accounting

8 0
3 years ago
Sheridan Company just began business and made the following four inventory purchases in June: June 1 144 units $ 952 June 10 184
Anit [1.1K]

Answer:

$210,688

Explanation:

The LIFO method of accounting for inventory involves issuing the last items purchased first and those purchased first are issued last hence the acronym LIFO which means last in first out

Given that June 1 144 units $ 952 June 10 184 units 1472 June 15 184 units 1564 June 28 144 units 1296 $ 5284 A physical count of merchandise inventory on June 30 reveals that there are 194 units on hand

Total number purchased during the month

= 144 + 184 + 184 + 144

= 656 units

Using the last in first out method, the 194 units left at the end would be made up of the 144 units purchased on June 1 and 50 units purchased on 10 June hence the amount allocated to ending inventory for June is

= 144 * $952 + 50 * $1472

= $210,688

5 0
3 years ago
Suppose that the economy is depicted at the right. a. The state of the economy depicted at the right can be best described as
allsm [11]
Ihsbsbbdijdbdbfbdkjfjfndnf
5 0
3 years ago
Other questions:
  • 2. Whom would you choose as a referent on this job? What steps would your manager take to make you feel that you were being equi
    11·1 answer
  • Distinguish between responsibilities of the FTC and those of the SEC.
    7·2 answers
  • Tiffany purchased a $10,000, 13-week Treasury bill that is paying 2.25%. What is the effective rate on this T-bill?
    7·1 answer
  • Understand the general arguments made in sections 1, 2, and 7 of Kraut's "Aristotle on Becoming Good" and consider how these ide
    7·1 answer
  • What is a market segment?
    12·2 answers
  • If a cost's step-cost behavior follows very narrow steps, the costs may be approximated using:
    10·1 answer
  • Say that the hourly cost to employers per German industrial worker was $44. The hourly cost to employers per U.S. industrial wor
    14·1 answer
  • Jennifer Orgolini, the chief financial officer at New Belgium Brewery, explains that the benefits and rewards associated with th
    6·1 answer
  • Suppose Alex and Becky are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix t
    5·1 answer
  • What does the Internet hostname after the period in the URL describe?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!