Answer:
Ending inventory at cost using the conventional retail method is $46,824
Explanation:
The conventional retail inventory method is the way for retailer to track cost of purchasing and sale prices. In this calculation, it includes markups but exclude markdowns, then results in a lower inventory value.
Sheffield Inc. had beginning inventory of $12,000 at cost and $21,500 at retail, so the ratio of inventory cost and sales prices is 55.81%.
As such, the inventory cost of $184,000 at retail = 55.81% x ($184,000 + $9,600) = $108,048
The ending inventory cost of Sheffield Inc. = beginning inventory of $12,000 + net purchases of $142,872 – inventory cost for sales $108,048 = $46,824
The answer is B. “What are my current skills ?”
hope this helps !
Answer:
Correct option (5)
Explanation:
Division of labor refers to dividing each job into smaller task and assigning them to employees. These tasks are assigned to each employee based on their skills and abilities.
It helps in increasing efficiency of employees as well provides ease to production process. Division of labor also reduces production cost to a great extent.
Answer: rose
Explanation: In the given case, Halpert hardware imports from asian countries,that is, they are on the buying side of the transaction. Therefore, if the value of dollar rises in relation to the currencies of countries from which halpert buys than they will be able to purchase more quantity with the same amount of dollars.
Answer:
A. Dr Cash $100,000
Cr Notes Payable $100,000
B. Dr Interest expense $1,500
Cr Interest Payable $1,500
Explanation:
a Preparation of the entry on April 1 when the note was issued.
Dr Cash $100,000
Cr Notes Payable $100,000
(To record note issued)
B. Preparation of any adjusting entries necessary on June 30 in order to prepare the semiannual financial statements
Dr Interest expense $1,500
Cr Interest Payable $1,500
($100,000 x .06 x 3/12)
