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Andre45 [30]
3 years ago
8

On July 1, the inventory of at Barnett Shoes was $60,000. Because of anticipated back-to-school sales, the owner wants to have a

n inventory of $105,000 on hand at the beginning of August. Net sales during July are expected to total $70,000, with a gross profit rate of 45%. During July, the company should purchase merchandise costing:
Business
1 answer:
AVprozaik [17]3 years ago
4 0

Answer:

required purchase             83,500

Explanation:

The cost of inventory in july sales and our desired ending invenory is the amount we need. the beginning inventory is a portion of this demand already fullfil, we need to purchase for the difference.

cost of inventory sales for July:

           70,000 x (1 - 45%) =  38,500

desired ending inventory   105,000

beginning inventory        <u>    (60,000)   </u>

  required purchase             83,500

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If an investment of $35,000 is earning an interest rate of 8.00%, compounded annually, then it will take for this investment to
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Answer:

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Substituting the values in the formula

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6 0
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Your savings account is currently worth $1,200. The account pays 5 percent interest compounded annually. How much will your acco
Flura [38]

Answer:

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Explanation:

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FV=$2,010  

7 0
3 years ago
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