Dundiss Comparye rwentory recordt for its retal Sviskan show the folowing it Becomber 31: (c)isk the ioon io view the nocounting meatds.) A Bectither 31,9 of these units are on hand. Read the reoumementri) Requirement 1, Caureule cost of goods sald and ending inverifory, using each of the following four imvertory methods: (c) FIFO, and fonlly (d) LIFO. (Reund the avphage cost per trit to the nearest cent Found all final answers fo the nearest ahale dattar.) cords for its retail division show the following at December 31: ccounting records.) ts are on hand. Data table 1. Compute cost of goods sold and ending inventory, using each of the following g inventory using (a) methods: a. Specific identification, with three $165 units and six $175 units still on hand at the end b. Average cost c. FIFO d. LIFO 2. Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold?
Answers
a) Specific identification cost of goods sold - $27,810; Ending inventory - $12,795 b) Average cost of goods sold - $27,900; Ending inventory - $12,705c) FIFO cost of goods sold - $27,855; Ending inventory - $12,750d) LIFO cost of goods sold - $27,885; Ending inventory - $12,7202) LIFO produces the highest cost of goods sold.
Dundiss Company’s retail division records show the following on December 31: 9,000 units are on hand. Compute the cost of goods sold and ending inventory, using the following four inventory methods:
a) Specific identification, with three $165 units and six $175 units still on hand at the end
b) Average cost
c) FIFO
d) LIFO
The computation of the cost of goods sold and ending inventory by using each inventory method are as follows:
a) Specific identification: FIFO, LIFO, Average Cost are inventory valuation methods. They determine the value of inventory and the cost of goods sold (COGS). It has been observed that the LIFO method produces the highest cost of goods sold, while the FIFO method produces the lowest cost of goods sold. The difference between the two methods is caused by the fact that LIFO allocates the latest cost of inventory to COGS, while FIFO assigns the earliest cost of inventory to COGS. As a result, LIFO will use the most recent, and thus more expensive, costs in calculating COGS. Meanwhile, FIFO will use the earlier, and thus cheaper, costs to calculate COGS. This implies that the cost of goods sold will be highest under LIFO and lowest under FIFO.
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Related Questions
Journal entry for purchased goods from ABC Co. for Rs. 11,000.
Answers
Answer:
purchase A/c. Dr. Rs.11,000
To ABC CO.A/c. Rs.11,000
(being goods purchased in cash)
3. What ethical concepts inform your personal code of ethics?.
Answers
These ethical concepts include:
Fairness and Impartiality:
Privacy and Confidentiality:
Transparency and Accountability
Responsible Use of AI
Fairness and Impartiality: I strive to provide unbiased and impartial information, treating all individuals and perspectives with fairness and respect.
Privacy and Confidentiality: I respect user privacy and confidentiality. I don't store personal data unless explicitly provided during the course of the conversation.
Transparency and Accountability: I aim to provide transparent responses and clarify the limitations of my knowledge. I am accountable for the information I provide within my training data and knowledge cutoff.
Responsible Use of AI: I adhere to the principles of responsible AI use, which involve promoting beneficial and ethical applications of AI technology while minimizing potential harm or misuse.
It is important to note that while I strive to uphold these principles, the responsibility for ethical decision-making ultimately lies with the individuals and organizations utilizing AI technology.
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what is the purpose of file extensions?
A. they execute mail and merge function
b. they set up files in an organized hierarchy
c. they run the spell checker and grammar checker features
d. they tell the operating system what kind of document you are creating
Answers
Answer:
d. they tell the operating system what kind of document you are creating
Explanation:
They tell the operating system what kind of document you are creating is the purpose of file extensions. Hence, option D is correct.
What is file extensions?An operating system like Microsoft Windows uses a file extension as a suffix to the name of a computer file. It falls under the category of metadata. An operating system's understanding of a file's attributes and, to some extent, its intended usage is aided by the file extension.
The file's extension informs your computer which program created or can open the file and which icon to use. For instance, the docx extension instructs your computer to display a Word symbol when you examine the file in File Explorer and that Microsoft Word may open it.
Approximately 20 files are part of the Salt Lake City Game Music File. JPG pictures and other file types with the extension 20 are common.
Thus, option D is correct.
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The rule of law is important because it _______. In regard to governments, the rule of law _______.
BLANK 1:
protects citizens from crime and justice
helps reduce the number of Supreme Court cases
ensures that an innocent person is not accused of a crime
BLANK 2:
applies to them in only certain cases
applys to them equally
does not apply to them
Answers
Blank 2. Applies to them in only certain cases
explain how the global expansion of organizations has impacted society, citing specific examples regarding culture, transportation, employment, infrastructure, and environmental climate.]
Answers
The global expansion of organizations has had a significant impact on society. With the increased globalization of business, organizations are able to operate in multiple countries, providing employment opportunities in different cultures, expanding transportation and infrastructure, and creating environmental impacts.
Companies can now hire workers from a wider range of backgrounds and experiences since they have access to a greater talent pool. As a result, the workforce is now more inclusive and varied.
Likewise, businesses can transfer goods and services across international borders swiftly and effectively by utilizing transportation networks.
A global economy has been established as a result, giving businesses access to new markets and clients.
Last but not least, because of increased production and consumption, which has led to pollution and other environmental problems, organizations have had a huge impact on the environment.
Companies must exercise caution in order to prevent having a detrimental effect on society as a result of their worldwide expansion.
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assets are assets used in a company's operations that have a useful life of more than one accounting period..
true,false
Answers
True. Assets used in a company's operations with a useful life of more than one accounting period are known as long-term assets or non-current assets. These assets play a crucial role in the functioning and growth of a business.
Long-term assets are an essential part of a company's balance sheet and represent items that provide value over an extended period. Examples of long-term assets include property, plant, and equipment (PP&E), intangible assets such as patents and trademarks, and long-term investments. These assets are not easily convertible into cash and are expected to generate economic benefits for the company in future accounting periods.
The useful life of a long-term asset is the period during which it is expected to contribute to the company's operations. This timeframe usually extends beyond one accounting period, which typically lasts for one fiscal year. The recognition of long-term assets allows businesses to allocate the cost of these assets over their useful lives, following the matching principle in accounting. This principle ensures that expenses are recorded in the same period as the revenue they generate.
In conclusion, it is true that assets used in a company's operations with a useful life of more than one accounting period are classified as long-term or non-current assets. They provide long-term value to the business and are essential for understanding the company's financial health and growth potential.
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Explain how long-term profitability affects pricing.
Answers
Answer:
A price increase
Deals and promotions
Poor customer experiences
Innovation that delivers value
Explanation:
According to a 2019 survey of ERP users, ________ percent of ERP projects experienced cost overruns.
Answers
Considering the information released, the 2019 survey of ERP users indicated that forty-five percent of ERP projects experienced cost overruns.
This is based on the information released on the ERP website and made known to the public.
ERP is an acronym for Enterprise Resource Planning.
The ERP software is known to be utilized by various used firms to organize the main components of their business, including the likes accounting, production, sales, and marketing processes.
Hence, in this case, it is concluded that the correct answer is "Forty-five percent"
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consider the following returns and states of the economy for tz com economy probability return weak 20 7 normal 20 4 strong 60 17 what is the standard deviation of tz's returns
Answers
The standard deviation of TZ com's returns is 7.02%. This indicates that the returns are relatively volatile, with a significant level of variability in returns from year to year.
Investors should consider this when making investment decisions and diversifying their portfolio to manage risk. To calculate the standard deviation of the returns for the TZ com economy, we need to first calculate the expected return and variance of the returns.
Expected return = (probability of weak state * return in weak state) + (probability of normal state * return in normal state) + (probability of strong state * return in strong state)
= \((0.20 * 7) + (0.20 * 4) + (0.60 * 17) = 11.2%\)
Variance = (probability of weak state * (return in weak state - expected return)^2) + (probability of normal state * (return in normal state - expected return)^2) + (probability of strong state * (return in strong state - expected return)^2)
=\((0.20 * (7 - 11.2)^2) + (0.20 * (4 - 11.2)^2) + (0.60 * (17 - 11.2)^2) = 49.28%\)
Standard deviation = square root of variance
= square root of 49.28%
= 7.02%
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ABC Co. purchased merchandise on August 5 at a $1,000 invoice price with terms of 2/10, n/30 and paid for the merchandise on August 14. Determine its entry to record this purchase and the subsequent payment under both the gross method and the net method by matching the action on the left with the method on the right.
Answers
Answer:
Credit Cash for $980 on August 14: Both methods
Debit Merchandise lnventoty for $980 on August 5: Net method
Credit Merchandise Inventory for $20 on August 14: Gross method
Debit Discounts Lost for $20 on August 14: Neither method
Explanation:
Based on the information given the entry to record this purchase and the subsequent payment under BOTH THE GROSS METHOD and THE NET METHOD by matching the action on the left with the method on the right will be :
Credit Cash for $980 on August 14: BOTH METHODS
(100%-2%*$1,000)
Debit Merchandise lnventoty for $980 on August 5: NET METHOD
(100%-2%*$1,000)
Credit Merchandise Inventory for $20 on August 14: GROSS METHOD
(2%*$1,000)
Debit Discounts Lost for $20 on August 14: NEITHER METHOD
(2%*$1,000)
vision toys uses a fixed-quantity system to manage its inventories. the inventory includes plastic and led bulbs. it was observed that the company often faces stockout of plastic. the average weekly demand for plastic is 100 pounds, and historical data show that the standard deviation of weekly demand is about 7. the lead time from the plastic supplier is 2 weeks. if the company's acceptable service level is 95 percent and the number of standard deviations necessary to achieve the acceptable service level is 1.645, the reorder point for plastic with safety stock is:
Answers
Vision toys use a fixed-quantity system to manage its inventories. the inventory includes plastic and led bulbs. The reorder point for plastic with safety stock is more than 175 pounds but less than or equal to 225 pounds.
Force or stock refers to the goods and accouterments that a business holds for the ultimate thing of resale, product or utilization. force operation is a discipline primarily about specifying the shape and placement of grazed goods. force refers to all the particulars, goods, wares, and accouterments held by a business for dealing in the request to earn a profit. For example, If a review seller uses a vehicle to deliver journals to the guests, only the review will be considered inventory.
Inventory is the account of particulars, element corridor and raw accouterments that a company either uses in product or sells. As a business leader, you exercise force operation in order to insure that you have enough stock on hand and to identify when there is a deficit.
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Which one of the following statements about backward vertical integration is false? For backward integration to be a viable and profitable strategy, a company must be able to (1) achieve the same scale economies as outside suppliers and (2) match or beat suppliers' production efficiency with no drop-off in quality. There's potential for being able to reduce costs via a backward integration strategy in situations where a company must deal with a few suppliers that have substantial bargaining power suppliers (and may thus have outsized profit margins) and where the item being supplied is a major cost component. Potential advantages of backward integration include sparing a company the uncertainty of being dependent on suppliers for crucial components or support services and reducing exposure to supplier price increases. o Backward vertical integration can produce a differentiation-based competitive advantage when a company, by performing activities internally rather than utilizing outside suppliers, ends up with a better-quality or better performing product, improved customer service capabilities, or in other ways is able to deliver added value to customers. What makes backward vertical integration such an attractive strategic option is the opportunity to substantially lower costs, capture the profit margins of suppliers, and thereby increase the company's own profitability.
Answers
Backward vertical integration is a strategy where a company acquires suppliers, but achieving the same scale economies is not necessary. Advantages include cost reduction and differentiation-based competitive advantage.
Backward vertical integration is a strategy that a company uses to acquire businesses that supply raw materials or other inputs to the company's manufacturing processes. This strategy enables the company to have more control over its supply chain and production processes, as well as to capture the profit margins of suppliers. However, one of the statements about backward vertical integration is false. The false statement is that a company must be able to achieve the same scale economies as outside suppliers. In fact, a company does not need to achieve the same scale economies as outside suppliers to successfully implement a backward integration strategy. The other conditions that must be met are matching or beating suppliers' production efficiency with no drop-off in quality. Potential advantages of backward integration include reducing costs via a backward integration strategy in situations where a company must deal with a few suppliers that have substantial bargaining power suppliers. Potential disadvantages of backward integration include the cost of acquiring and integrating businesses that supply raw materials or other inputs, as well as the risk of overinvesting in the supply chain and production processes. Therefore, the backward vertical integration strategy can produce a differentiation-based competitive advantage when a company, by performing activities internally rather than utilizing outside suppliers, ends up with a better-quality or better-performing product, improved customer service capabilities, or in other ways is able to deliver added value to customers.For more questions on strategy
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two ways in which young entrepreneurs can benefit from the National Youth Development Agency
Answers
South Africa's National Youth Development Agency has launched the Ithubalentsha Micro Enterprise Programme, which will provide young aspirant and established entrepreneurs with training, mentorship, micro-enterprise finance, market linkages and access to business opportunities.
which of the following is not a benefit of inward fdi for a host country?
Answers
Answer:
Explanation:
yes
3. ______ are defined as goods or services that are required for health and safety.
Answers
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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Stan Still Stationery Store's employees are paid every Friday for a five day work week and are paid a total of $1,900 per day. If December 31, 20X1, is on a Wednesday, the amount of the adjusting entry for accrued wages is:
Answers
According to given statement, the amount of the adjusting entry for accrued wages is will be $5,700.
What will be the accrued wages?
Last wages would have been paid on Friday. Year is ending on 31 Dec 20X1 which is Tuesday. This means that for Monday and Wednesday , the wages are accrued and are not paid, and will be paid on Friday (which will fall in January, a new accounting period).
Wages for 2 days to be accrued $ 1900 per day x 3 days = $5,700
Therefore, the adjusting entry will be:-
Wages Expenses $5,700
To Wages payable $5,700
(Being entry recorded)
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consider a project with negative cash flow in year 0, positive cash flows after year 0. if the company felt that the risk of the project was less than original estimates, what will happen to npv and irr of this project?
Answers
If the risk of a project is lower than the original estimates, the net present value (NPV) and IRR of the project will increase due to the higher probability of achieving positive cash flows after year 0.
If the company feels that the risk of the project is less than the original estimates, it means that the probability of achieving the positive cash flows after year 0 has increased. As a result, the expected future cash flows of the project will be higher than the original estimates. This will lead to an increase in the net present value (NPV) and internal rate of return (IRR) of the project.
The increase in NPV will be driven by the fact that the discounted value of the expected future cash flows will be higher than the discounted value of the original estimates. This is because a lower discount rate can be applied to the expected future cash flows due to the lower perceived risk of the project.
Similarly, the increase in IRR will be due to the fact that the expected future cash flows will be higher than the original estimates, leading to a higher rate of return on the project.
Overall, if the company feels that the risk of the project is less than the original estimates, both the NPV and IRR of the project will increase, making it a more attractive investment opportunity.
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I got a 50 the first time taking this, don’t know what I got wrong.
Answers
Answer:
Has no change
Explanation:
When sales taxes are imposed, the change is barely noticeable to the buyers and they adopt to it
Melinda kept a record of her spending for the week. She spent $25 to put gas in the car, bought a new shirt for a total of $22. 38, played putt-putt golf with some friends that cost $6. 95 and paid $38. 71 for a few groceries. What was the total of Melinda’s expenses for the week? a. $68. 24 b. $86. 09 c. $91. 94 d. $93. 04 Please select the best answer from the choices provided A B C D.
Answers
The total of Melinda's expenses for the week is$93.04, option d is the correct answer.
Melinda spent on, Gas: $25, New shirt: $22.38, Putt-putt golf: $6.95, Groceries: $38.71
Adding these amounts together:
$25 + $22.38 + $6.95 + $38.71 = $93.04
Therefore, the correct answer is option d. $93.04. This represents the total of Melinda's expenses for the week.
Options a, b, and c are not correct. Option a, $68.24, does not include the full amount of Melinda's expenses. Option b, $86.09, is also lower than the actual total. Option c, $91.94, is closer to the correct answer but still falls short of the actual total.
By adding up the individual expenses accurately, we can determine that Melinda's total expenses for the week amount to $93.04.
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Changes in the price of bus tickets in a big city have had no impact on the
number of people taking the bus. What is this an example of?
A. Structural demand
B. Efficiency demand
C. Inelastic demand
D. Budgetary demand
Answers
Answer:
A. Structural demand is the correct answer
Providing advice to a company to help with recommendations to improve performance is known as
consulting
job sharing
temporary employment
working remotely
Answers
Answer:
Job sharing maybe?
Explanation:
I'm not completely sure but it makes sense because you're "sharing" that job.
Answer:
Consulting
Explanation:
Consultants often are hired by companies to observe business practices and make recommendations to improve performance or to provide a service.
data includes information collected from national tv ratings, mystery shopper experiences, and neuromarketing techniques collected for the project at hand.
Answers
The technique used for collecting information collected is known as Primary observational. Therefore, Option 3 is the correct choice.
What is Primary observational?
This approach of Primary observational entails going outside and observing while gathering information using your five senses. Anywhere a person establishes a particular set of criteria, features, or characteristics and then examines something for those features or characteristics is where observation is used as a primary research method.
Therefore, The technique used for collecting information collected is known as Primary observational. Option 3 is the correct choice.
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"Your question is incomplete, probably the complete question/missing part is:"
A) Secondary external
B) Secondary internal
C) Primary observational
D) Primary questionnaire
_____ or short saying of wisdom or truth were used to teach lessons to the people
Answers
Answer:
ygyvuyvuhuvhuh
Explanation:
What is the standard portion cost for a 1-ounce portion of sundried tomatoes purchased by the pound for $7. 69 per pound?.
Answers
Answer:
0.48 $
Explanation:
there are 16 ounces in 1 pound, so 7.69/ 16= .48
Note that common skills are listed toward the top and less common skills are listed toward the bottom. According to O*NET, what are some common skills needed by Lawyers? Select four options.
installation
active listening
speaking
critical thinking
reading comprehension
equipment maintenance
Answers
The common skills needed by lawyers are active listening, speaking, critical thinking and reading comprehension.
The skills can be noted as -
Active Listening - To completely comprehend their viewpoints and obtain all pertinent facts, attorneys need to listen intently to their clients, witnesses, and other parties involved in a case.Speaking - Lawyers need to be able to communicate clearly both orally and in writing with their clients, juries, judges, and other lawyers.Critical Thinking - Lawyers must be able to evaluate intricate legal issues and create plans for resolving conflicts and attaining their clients' objectives.Reading comprehension - Complex legal papers, court rulings, and other important items must be read and understood by lawyers.Read more about lawyers on:
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Which of the following is not one of the key characteristics of good market research?
ethical
accuracy
timeliness
reliability
Answers
Answer:
Ethical
Explanation:
I wanna say Ethical but I feel like there's a possibility that its wrong.
simone just received a letter from her health care provider telling her she can create an account online that will give her access to all her health records. how would you describe what her provider is encouraging his patients to engage with?a. a learning management system (lms)b. an intelligent workplacec. a byod (bring your own device)d. a mobile health app (mhealth)
Answers
Simone's healthcare provider is encouraging her to engage with a mobile health app (mHealth). Option D is the correct answer.
By creating an account online, she will gain access to all her health records through the app. This mobile health app allows patients to conveniently manage and view their health information, such as medical records, test results, and appointment schedules, from their own devices. It provides a user-friendly interface and facilitates efficient communication between patients and healthcare providers. The app enhances accessibility, convenience, and empowers patients to take a more active role in managing their healthcare. Option D, a mobile health app (mHealth), is the correct answer.
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provide some of your thoughts on what “dress for success” means to you, and give some examples
i’ll give brainliest to best answer pls help!
Answers
write about the necessary ports and instruments for preparing donat
Answers
Many necessary instruments and ports are required to prepare donuts. A mixing bowl is first and foremost required for mixing the contents. For rolling out the dough, you also need a flat surface and a rolling pin.
What are donuts?Donuts, sometimes known as doughnuts, are a type of fried pastry that are normally created with a combination of flour, sugar, yeast, milk, or water. The dough is shaped into a ring, which is deep-fried until the outside is crispy and golden brown.
The donut forms must be cut out with a circular cutter, and the donuts must be fried in a deep fryer or a sizable pot. The fried donuts must also be removed from the oil using a slotted spoon, and any leftover oil must be drained using a dish lined with paper towels. Next, you can decorate and flavor the doughnuts by adding toppings like icing, sprinkles, or powdered sugar.
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Karen is the next employee scheduled to attend 3 weeks of training in another state. Her employer knows the training will disrupt Karen's family life. The employer arranges cell phone service and Internet access for Karen to communicate daily with her family while she is away. Other coworkers tell Karen how useful the training has been, and that the time away goes quickly. By supporting Karen, the coworkers and the employer are improving Karen's _______ to learn.
Answers
By supporting Karen, co-workers and the employer are improving Karem's willingness to learn during her training, which is positive behavior that encourages and motivates the employee.
Training helps in the development of employees, makes them more motivated, creative and consequently productive, which is an essential advantage for companies to remain competitive and profitable.
Team behaviors also demonstrate an organizational culture favorable to collaboration, understanding and the development of employee skills and competencies.
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