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Elis [28]
3 years ago
6

Turturro Department Store utilizes the retail inventory method to estimate its inventories. It calculated its cost to retail rat

io during the period at 75%. Goods available for sale at retail amounted to $400,000 and goods were sold during the period for $280,000. The estimated cost of the ending inventory is?
Business
1 answer:
iogann1982 [59]3 years ago
8 0

Answer:

The estimated cost of the ending inventory is $120,000

Explanation:

Retail Inventory method is used to estimate the value of inventory using retail price of the inventory.

Ending inventory is the value of Inventory in store at the end of accounting period. It is calculated as follow

Closing Inventory value = Goods available for sales - Goods sold during the period

As the Inventory is already given in the retail value

Closing Inventory value = $400,000 - $280,000 = $120,000

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A manager with _______ skills has the ability to deal effectively with people inside and outside the organization.
dezoksy [38]
I whould say cumunication skills hope this helps
8 0
4 years ago
Read 2 more answers
Brown Corporation earns $600,000 and pays cash dividends of $200,000 during 2012. Dexter Corporation owns 3,000 of the 10,000 ou
fomenos

Answer: $920,000

Explanation:

Given the following :

Beginning balance = $800,000

Brown's earning = $600,000

Casg Dividend = $200,000

Dexter's portion of brown's outstanding shares = 3000/ 10000 = 0.3

Therefore, Dexter's investment account is as follows :

Beginning balance + (earning × 0.3) - (Dividend × 0.3)

$800,000 + ($600,000 × 0.3) - ($200,000 × 0.3)

$800,000 + $180,000 - $60,000

$980000 - $60000 = 920000

4 0
3 years ago
Enrico is having trouble telling the difference between the sound of a tuba and the sound of a piccolo. Even though a piccolo pr
Serggg [28]

Answer:

Pitch

Explanation:

Enrico has trouble differentiating between a tuba's sound and a piccolo's sound. Although a piccolo generates sound waves that are much briefer, quicker than a tuba, he has trouble tracking the variations in the pitch of such sounds.

For music, a note's pitch indicates the note's high or low. It is measured for physics in a Hertz unit. A note that vibrates at 261 Hz is induced by pulsing sound waves at 261 times per second.

3 0
3 years ago
Roland Richard, a baker, purchased 200 ounces off of an expensive spice for $400 on 3/1/09. The journal entry to record the purc
kirill [66]

Answer:

The correct adjusting journal entry for 12/31/09:

D. debit Spice Expense and credit Spice Inventory 240

Explanation:

Roland Richard purchased 200 ounces off of an expensive spice for $400.

Cost per ounce = $400/200 = $2

By December, 12/31/09, there were 80 ounces on hand. Roland Richard used 120 ounces of expensive spice with the amount of expense: $2 x 120 = $240

The adjusting journal entry for 12/31/09:

Debit Spice Expense $240

Credit Spice Inventory $240

6 0
3 years ago
CompuTronics, a manufacturer of computer peripherals, has excess capacity. The company's Utah plant has the following per-unit c
zavuch27 [327]

Answer:

a. $60.

Explanation:

While computing the relevant cost in case of special order only the variable manufacturing cost is to be considered as it will be changed in special order case.

And the other cot like - fixed manufacturing, variable & fixed selling, traceable fixed administrative cost, etc are not relevant as it remains constant

These costs are not useful for decision making. Hence, it is to be ignored

3 0
3 years ago
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