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Olegator [25]
3 years ago
13

The following scenario applies to the next three questions. At the start of the current period, Alberich Jewelers had an invento

ry of three identical gold rings. The cost of the gold ring purchased first is $640, the gold ring purchased next had a cost of $720, and the most recent purchase had a cost of $750. During the current period one of the gold rings was sold for $1,400. Alberich expects this gold ring will be a fast seller and he is thinking about ordering more of the same model for $780 each. If Alberich elects the FIFO method of inventory, after selling one ring for $1,400, compute the gross profit he should report. Post your response without any special characters. So an answer of $1,000 would be expressed as 1000
Business
1 answer:
kolbaska11 [484]3 years ago
6 0

Answer:

Alberich Jewelers

The gross profit that Alberich should report is 760.

Explanation:

a) Data and Calculations:

Cost of gold ring purchased first = $640

Cost of gold ring purchased next = $720

Cost of gold ring purchased recently = $750

Sale of one gold ring = $1,400

Using the FIFO method of inventory, the gross profit for the gold ring sold is based on the first gold ring purchased, as follows:

= Sales Revenue - FIFO cost of inventory

= $1,400 - $640

= $760

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Janine is 25 and has a good job at a biotechnology company. She currently has $5,000 in an IRA, an important part of her retirem
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Answer:

$108,622.60

Explanation:

Calculation for the amount Janine's IRA will worth when she needs to start withdrawing money from it when she retires

Based on the information given we were told that She has the amount of $5,000 in an IRA, which is a vital part of her retirement nest egg in which She has well believes that her IRA will increase at an annual rate of 8%.

Secondly we were told that she is 25 age and plan to retire at the age of 65 which means that the number of years until her retirement will be 40 years(65 years-25 years)

Now let calculate how much she will be worth using this formula

Amount worth= Present value in IRA*(Annual rate increase)^ Numbers of years until retirement

Let plug in the formula

Amount worth=5,000 *(1 + 0.08)^40 =

Amount worth=5,000*(1.08)^40

Amount worth =5,000*21.72452

Amount worth= $108,622.60

Therefore Janine's IRA will be worth $108,622.60 when she needs to start withdrawing money from it when she retires.

7 0
3 years ago
12) A particular species of North American frog is most comfortable within a temperature range of 20 oC- 40 oC. A mating pair is
meriva

Answer:

The male frog would join the female frog in the water poodle

Explanation:

Mathematically,

Let x = temperature the 10000 joules from sun Ray would raise the temperature of the copper

So therefore:

10000 = m * (x - 33°) * Spc

Where m = mass of copper = 400g

Spc = specific heat capacity of copper = 0.387j/g/°c

So

400 * ( x - 33) * 0.387 = 10000

( x - 33 ) = 10000/ (400 * 0 387)

x = 97.6 °c

Temp for water where m = mass of water = 100g

x¹ = temperature the sun Ray of 10000 joules would raise the temp of water too.

Spw = specific heat capacity of water = 4.184j/g/°c

So therefore;

100 * ( x¹ - 33 ) * 4.184 = 10000joules

x¹ - 33 = 10000/ (100 * 4.184)

x¹ = 56.9°c

Since x for the male frog is greater than x¹ for the female frog, the male frog would be more uncomfortable because it's environmental temp is far higher than the comfort zone tem which is 20° to 40°c so it would move to join the female frog.

3 0
3 years ago
Kenya sells her 20% partnership interest having a $28,000 basis to Ebony for $50,000 cash At the time of the sale, the partnersh
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Answer:

Cash received from ebony is 50k

payment to be met is 28000

net income is

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is the net income to be recognised

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4 years ago
Indicate whether the following statements are true​ (T) or false​ (F). nothing​: When the marginal revenue is​ positive, demand
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Answer:

1) True, because MR = P[1-1/e] demand is elastic if e> 1. Thus for e>1 MR is positive.

2) False, because for elastic demand increase in price will lead to fall in revenue.

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4 years ago
Explain why market power leads to deadweight loss. Firms with market power create deadweight loss because they A. charge a price
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Answer:

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The more market power a company has, the more it will tend to act like a monopoly. For example, Microsoft is not considered a monopoly because it is the only software company in the world, but because its market power in the PC business is so large that it dominates the industry.

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