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vesna_86 [32]
3 years ago
15

Sunland Company just began business and made the following four inventory purchases in June: June 1 144 units $1000 June 10 192

units 1500 June 15 192 units 1610 June 28 144 units 1270 $5380 A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 200 units on hand. The inventory method which results in the highest gross profit for June is the average cost method. not determinable. the FIFO method. the LIFO method.
Business
1 answer:
Sergio039 [100]3 years ago
8 0

Answer:

The First-in, First-out has the lower cost of goods sold, therefore, it will provide with a higher gross profit.

Explanation:

Giving the following information:

June 1: 144 units for $1000 ($6.94 per unit)

June 10: 192 units for $1500 ($7.81 per unit)

June 15: 192 units for  $1610 ($8.38 per unit)

June 28: 144 units for  $1270 ($8.82 per unit)

Ending inventory in units= 200 units on hand.

The method that will provide a higher gross profit is the one with the lower cost of goods sold.

Inventory methods:

<u>FIFO (first-in, first-out):</u>

COGS= 144*6.94 + 192*7.81 + 136*8.38= $3,639

<u>LIFO (last-in, lsdt-out)</u>

COGS= 144*8.82 + 192*8.38 + 136*7.81= $3,941

<u>Weighted-average:</u>

Average price= (6.94 + 7.81 + 8.38 + 8.82)/4= $7.99

Now, we can calculate the cost of goods sold:

COGS= 7.99*472= $3,771.28

<u>The First-in, First-out has the lower cost of goods sold, therefore, it will provide with a higher gross profit.</u>

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<span>Joe's business is most likely a type of sole proprietorship. Sole proprietorships are usually ran by one person who accounts for all of the business expenses as part of their personal taxes so there is no difference between personal and business. This form of business also does not need to file any paperwork with the state. The owner just needs a business license.</span>
3 0
2 years ago
A company estimates that the revenue (in dollars) from the sale of x doghouses is given by R(x)=14,000ln(0.01x+1). Use the diffe
melamori03 [73]

Answer: The change in revenue for the sale of 1 more doghouse $ 66.67 dollars

Explanation: Differential is a function that can be used to approximate function value with a great degree of accuracy. This is done by the following.

Mathematical definition of derivative: f'(x) = lim f(x+Δx) - f(x)/Δx.

If Δx is very small:

f'(x) . Δx ≅ f(x+Δx) - f(x)

Knowing that Δy ≅ f(x+Δx) - f(x) and the diferential of variable x can be written by dx as the variable y can be dy:

dy = f'(x) dx

which means that the differential dy is approximately equal to the change Δy, if Δx is very small.

For the question, R(x) = y(x) = 14,000ln(0.01x+1)

f'(x) = \frac{d[14,000.ln(0.01x+1)]}{dx}

Using the chain rule, the derivative will be:

f'(x) = 14,000.\frac{0.01}{0.01x+1}

dy = 14,000.\frac{0.01}{0.01x+1}.dx

dx is the change in x. For the question, the change is 1 (1 more doghouse) and x is 110:

dy = 14,000\frac{0.01}{0.01.110+1}.1

dy = \frac{140}{2.1}

dy = 66.67

The change in revenue is $66.67 dollars.

5 0
3 years ago
a. After the magazine The Economist publishes an article indicating that analysts expect the value of Tunisian dinars to rise re
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Answer: Depreciate

Explanation:

The Economist is a widely respected financial and economic magazine which means that their articles can cause movements in the market especially when backed up by analysts.

The Economist believes that the Tunisian Dinar will rise relative to the Peruvian Sol, this means that the Peruvian Sol will depreciate against the Tunisian Diner. Some people and entities holding Peruvian Sol assets will try to offload it so that they do not suffer losses.

This increase in supply and reduction in demand for the Peruvian Sol will lead to it depreciating.

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2 years ago
Mechelle has a life estate in a property in rural Maine. Mechelle has allowed people to camp and park in the backwoods of the pr
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The scenario that's illustrated regarding the property in this case is improper dominion.

<h3>What is dominion?</h3>

It should be noted that in law, dominion simply means the right to control the ownership of a a property.

In this case, since Mechelle has allowed people to camp and park in the backwoods of the property, leaving piles of trash everywhere and thereby diminishing the value of the property, this illustrates improper dominion.

Learn more about property on:

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Which one of these values can you usually expect from persons of integrity?
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Answer:

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Explanation:

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