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Marizza181 [45]
3 years ago
12

Reyes Company had a gross profit of $720,000, total purchases of $840,000, and an ending inventory of $480,000 in its first year

of operations as a retailer. Reyes's sales in its first year must have been:a. $1,080,000.b. $1,320,000.c. $360,000.d. $1,200,000.
Business
1 answer:
notsponge [240]3 years ago
4 0

Answer:

The correct answer is A: $1,080,000

Explanation:

Giving the following information:

Reyes Company had a gross profit of $720,000, total purchases of $840,000, and an ending inventory of $480,000 in its first year of operations as a retailer.

Assuming there was any beginning inventory:

Sales= gross profit + (purchase - ending inventory)

Sales= 720,000 + (840,000 - 480,000)= $1,080,000

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Answer:

3.13%

Explanation:

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Answer:

B. False

Explanation:

Land held for possible plant expansion would NOT be included as an operating asset when computing return on investment (ROI).

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Return on investment can be used to determine

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6 0
3 years ago
Which of the following is an essential characteristic of enduringly great companies? They undergo continuous change. They are so
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Answer:

The answer is (A) They undergo continuous change.  

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To remain competitive in today’s world, a company must be willing to continue changing according to what the market currently needs and will need in the future. When a company remains stagnant, it would be outpaced by its competitors. Most of the household names that we commonly encounter maintains a spirit of continuous improvement – and we can encounter this from the innovative product they choose to make, better customer experience, or improvement in internal business process.  

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