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3 years ago

Clooney Department Store estimates inventory by using the retail inventory method. The following information was developed:

Business

1 answer:

Butoxors [25]3 years ago

7 0

Answer:

$420,000

Explanation:

The estimated cost of inventory is calculated as;

= (Beginning inventory at cost + purchases at cost ) ÷ (Beginning inventory at retail + Purchases at retail)

= ($360,000 + $900,000) ÷ ($750,000 + $1,350,000)

= 0.60; ($2,100,00 - $1,400,000) × 0.60

= $420,000

Therefore, the estimated cost of the ending inventory is $420,000

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nexus9112 [7]

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4 years ago

Read 2 more answers

A hospital reports the following cost and revenue data: Variable cost per inpatient day of $250 Revenue per inpatient day of $10

REY [17]

Answer:

Expected profit at a volume of 25,000 inpatient days = $3,750,000.00

Explanation:

The expected profit is calculated as follows:

Step 1

Total contribution per inpatient from 25,000 inpatients

contribution = (revenue - variable cost) per patient

= $(1000-250)

= $750 per inpatient day

Total contribution for 25,000 inpatient days

$750 × 25000 = $18,750,000.00

Step 2

Calculate Profit 

Profit = Total contribution - Fixed cost

=$18,750,000.00 -$15,000,000

= $3,750,000.00

Expected profit at a volume of 25,000 inpatient days = $3,750,000.00

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3 years ago

_____ data is defined as data that has been previously collected for any purpose other than the one at hand. select one:

bekas [8.4K]

The answer is b, Secondary data

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3 years ago

Which is not capital? the computer used by an accountant the person whose photograph is snapped by the candid photographer the p

Dmitry_Shevchenko [17]

The answer is: the person whose photograph is snapped by the candid photographer.

Capital refers to accumulation of assets that is owned by a certain individual or organization that can be used to generate more income.

Candid photographers only take picture of the environment around them naturally (without any edits or settings). This mean that the person who is being photographed is not being paid. Since that person does not generate income, it cannot be considered as a capital.

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4 years ago

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(a) Explain the quantity theory and (b) how does the theory explains the cause of inflation

Digiron [165]

Answer:

The quantity theory of money defends that the money supply has a determining influence on the price level, that is, that the quantity of circulating money will necessarily be imputed to the value of the quantity of commercial operations that are carried out.

Therefore, this theory establishes that the creation of money without increasing the commercial volume (the total amount of tradable goods) will lead to inflation, since it is not really increasing the economic value of an economy, but only the money supply of it, which is "empty" of value, and therefore is coupled with existing commercial transactions.

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3 years ago