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Firlakuza [10]
3 years ago
10

At the beginning of the year, Uptown Athletic had an inventory of $640000. During the year, the company purchased goods costing

$2020000. If Uptown Athletic reported ending inventory of $960000 and sales of $3440000, their cost of goods sold and gross profit rate would be:
Business
1 answer:
Nataly_w [17]3 years ago
8 0

Answer:

Cost of Goods Sold = $1,700,000

Gross Proft = $1,740,000

Explanation:

We solve this assingemtn using the inventory identity:

$$Beginning Inventory + Purchase = Ending Inventory + COGS

We post the given and solve for the missing part:

640,000 + 2,020,000 = 960,000 + COGS

COGS = 640,000 + 2,020,000 - 960,000 = 1,700,000

Next we use the COGS value to calculate the gross profit.

Sales \: Revenues- \: COGS = \: Gross \: Profit

3,440,000 - 1,700,000 = 1,740,000

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A rightward shift of the supply of loans curve would
Minchanka [31]

C. increase in the interest rate

3 0
2 years ago
An engineer wishes to have $3 million by the time he retires in 35 years. Assuming 8% nominal interest, compounded continuously,
Genrish500 [490]

Answer:

annual sum must he set aside $16209.42

Explanation:

given data

engineer wishes = $3 million

retires time = 35 years

nominal interest = 8%

solution

we get here effective annual rate that is

interest rate  = e^{r} - 1  ...........1

interest rate  = e^{0.08} - 1

interest rate  = 0.08328 = 8.33%

and

now we get annual sum must he set aside that is

amount = $3 million × \frac{rate}{(1+rate)^{t}-1}

amount = $3000000 × \frac{0.0832}{(1+0.0832)^{35}-1}

amount = $16209.42

5 0
3 years ago
A reason why marketing intermediaries such as transport companies and wholesalers have survived is that they
ziro4ka [17]

A reason why marketing intermediaries such as transport companies and wholesalers have survived is that they :Add enough value to products to outweigh the added costs.

<h3>What is  marketing intermediaries?</h3>

Marketing intermediaries can be defined as the people that acts as a link between a manufacturer and consumer.

This Marketing Intermediaries perform important functions as they assist companies or organization to market and sell their product and to as well distribute products from the manufacturer to  end user.

Therefore a reason why marketing intermediaries such as transport companies and wholesalers have survived is that they :Add enough value to products to outweigh the added costs.

Learn more about  Marketing intermediaries here:brainly.com/question/25339343

#SPJ1

4 0
2 years ago
Setsuko wants to start a business of her own. She does not have enough savings, so she approaches her bank to obtain short-term
Arisa [49]

The type of funding obtained by Setsuko is the line of credit.

The following information should be relevant for the line of credit:

  • It is treated as a flexible loan.
  • It is an amount of money i.e. defined and can be accessed whenever it is needed and after that, it could be repaid instant or over a period of time.
  • It is for a short period of time.

Since in the given situation, it is mentioned that:

  • Setsuko obtained the funds for the short term.
  • Bank lent her $10,000.

Therefore we can conclude that the type of funding obtained by Setsuko is the line of credit.

Learn more about the line of credit here: brainly.com/question/17937007

3 0
2 years ago
Luther is a successful logistical services firm that currently has $5 billion in cash. Luther has decided to use this cash to re
inysia [295]

Answer:

Total market value of shares = 1.25 billion x $20 = $25 billion

Market value of shares after share repurchase = $25 billion - $5 billion

                                                                                 = $20 billion

No of shares after repurchase = <u>Market value after repurchase</u>

                                                       Market price per share

                                                    = <u>$20 billion</u>

                                                       $20

                                                    = 1 billion shares

The correct answer is B

Explanation:

The total market value of shares is obtained by multiplying the number of shares outstanding by the market price per share. The market value after repurchase is total market value of shares less value of shares repurchased. The number of shares outstanding after repurchase is the market value after repurchase divided by the market price per share.

7 0
3 years ago
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