The finished goods on account A) are made up of finished products that haven't been sold yet.
Finished goods – what are they?Products and completed goods are extensions of inventory. These goods have reached the stage in the production process where consumers can easily access them. Companies use a formula to calculate finished goods and products to help create an inventory ratio that establishes the value of the goods available for sale.
Because they are anticipated to be sold in less than a year as opposed to long-term assets, finished inventory items are typically regarded as short-term assets. A variety of distinct factors influence finished goods.
For instance, the Canadian company Niche Bakers makes baked goods. While their finished goods are the baked goods that are prepared for sale (such as cakes and cookies), their assets include the ingredients, cookware, and any direct labor required for production.
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The introduction of the dvd-by-mail business model by netflix changed the video rental business and caused the demise of blockbuster video. This is an example of ______.
The introduction of the DVD-by-mail business model by Netflix changed the video rental business and caused the demise of blockbuster videos. This is an example of disruptive innovation.
Disruptive innovation, according to business theory, is an innovation that establishes a new market and value network or enters a market from the bottom and eventually supplants long-established market-leading companies, goods, and alliances. The process by which a smaller company typically one with fewer resources moves upwards and competes with more established, larger companies is known as disruptive innovation.
Because it revolutionized how individuals receive their daily fix of entertainment, Netflix is disruptive innovation. Everyone wanted to switch from their traditional TV channels and DVD movies, so the arrival of affordable rates, HD quality, and new perspectives on TV shows made that possible.
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all of rolf co.'s employees are entitled to two weeks of paid vacation for each full year in rolf's employ. unused vacation time can be accumulated and carried forward to succeeding years and will be compensated at the salary in effect when the vacation is taken. mary beal started her employment with rolf on january 1, 2019. as of december 31, 2019, when beal's salary was $500 per week, beal had used none of her vacation time. as of december 2019, rolf expects to give its employees 10% raises in july 2020. how much should rolf report as a liability at december 31, 2019, for beal's accumulated vacation time?
At the end of 2019, Rolf must declare $1,000 as a liability for Beal's accrued vacation time.
A liability is an obligation that an individual or organization has, usually one that is financial in nature. Liabilities are eventually addressed through the transfer of economic benefits like money, goods, or services.Debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated costs vacation time are represented as liabilities on the balance sheet's right side.Liabilities and assets are comparable concepts. Liabilities are debts or other responsibilities, whereas assets are things you own or owe money to.Current liabilities are a company's short-term financial obligations that are due within a year or during its regular operational cycle (e.g. accounts payable).On the balance sheet, commitments that aren't due for more than a year are referred to as long-term (non-current) liabilities.Learn more about Liabilities, here
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rafia owns stocks of 15 different companies. together, the stocks have a value of $78,640. twelve percent of that total value is from one company, gambrell
The twelve percent figure of that total value is from one company, Gambrell & Valdez is called as portfolio weight. In economics, a portfolio weight can be described as the percentage of an investment portfolio that a particular holding.
The weight of a portfolio also can be defined as the simply the percent of an investment portfolio that is held by a single asset. To determine the portfolio weight we can divided dollar value of a security by the total dollar value of the portfolio.
Rafia owns stocks of 15 different companies. Together, the stocks have a value of $78,640. Twelve percent of that total value is from one company, Gambrell & Valdez. The twelve percent figure is called a(n):
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on december 31, 2021, the ledger of hunter company contained the following account balances: cash $ 33,000 jessica hunter, drawing $ 26,000 accounts receivable 2,900 fees income 53,750 supplies 2,100 depreciation expense 2,750 equipment 26,000 salaries expense 17,000 accumulated depreciation 2,500 supplies expense 3,000 accounts payable 3,000 telephone expense 2,600 jessica hunter, capital 60,750 utilities expense 4,650 all the accounts have normal balances.
Based on the account balances of Hunter Company, the closing entry for revenue and expenses are shown below:
Date General Journal Debit Credit
Dec. 31 2021 Fees income $53,750
Income summary $53,750
Date General Journal Debit Credit
Dec. 31 2021 Income summary $30,000
Depreciation expense $2,750
Salaries expense $17,000
Supplies expense $3,000
Telephone expense $2,600
Utilities expense $4,650
How to make the closing entries?Closing entries aim to close off temporary accounts such as revenue and expenses. To close off the revenue account, the fees income account for service companies is debited by the income summary account.
The various expense accounts would then be sent to the income summary account. This happens why debiting those expense accounts and then crediting the income summary account.
In conclusion, expenses and revenue are closed to the income summary account.
Rest of the question is:
Record the closing entry for revenue and expenses.
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megan, the marketing manager for boot hill wants to export the company’s line of fashion boots to an eu country. however, she discovers that there is a complete restriction on the import of any form of leather into that country. this is an example of
This scenario of Megan, the marketing manager is an example of a boycott.
The required details about the marketing manager are mentioned below.
Managers of marketing oversee advertising campaigns for companies and goods. Marketing managers work to increase awareness of your product or service and bring in new clients by creating appealing stories and running strategic campaigns.
It is advantageous to have a broad variety of marketing experience for this mid-level position. Marketing managers frequently organize and handle a wide range of tasks, including product launches, advertising, email campaigns, events, and social media. Additionally, you will develop marketing initiatives and campaigns, work cross-functionally, and produce marketing metrics reports.
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an estate at will is: select one: a. a form of co-ownership. b. an inheritance of property by will. c. a tenancy of uncertain duration. d. a life estate.
An estate at will is c. a tenancy of uncertain duration.
In the field of business, an estate at will can be described as a procedure in which a person is allowed to occupy a property of someone with the permission of the owner.
The owner might be taking money or some other benefit in exchange for letting the other person use his property.
The tenancy of an estate at will is set for an uncertain duration and it can end by the mutual consent of the owner and the person occupying his property.
Both the owner, as well as the one using the occupation of the owner, benefit from an estate at will.
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bond market values are expressed as a percentage of their par (face) value. for example, a company's bonds might be trading at 103, which means that they can be bought or sold for of their par value. multiple choice question. 0.103% 103% 10.3% 100.3%
The interest rate for an auto loan is actually 8% instead of 4%. Will this increase or decrease the demand for new cars? Why?
The increase in interest rate on auto loans would decrease the demand for new cars. This is because the cost of the auto loans have increased and this would discourage people from buying new cars.
What is the impact of the change in interest rate?Auto loans and new cars can be described as complement goods. Complement goods are goods that are used together. Most people can finance the purchase of new cars by themselves so they rely on auto loans.
When the interest rate on auto loans increase, the cost of borrowing increases. This discourages people from using auto loans. This would lead to a decrease in the demand for both auto loans and new cars. If shown on a graph, the demand curve for auto loans and new cars would shift to the left.
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the highest level of management is blank and consists of the president and other key company executives who develop strategic plans and have overall responsibility for the organization.
The highest level of management is top level management: and consists of the president and other key company executives who develop strategic plans and have overall responsibility for the organization. A top-level manager is an executive-level professional who is in charge of developing and carrying out organizational strategies and policies.
They serve as the middleman in negotiations between upper- and lower-level management. The highest-ranking executive and primary decision-maker in a corporation organization is the Chief Executive Officer (CEO). The president is a senior executive who typically serves as the CEO's deputy. The CEO, chairman of the board of directors, and other top-level managers are included.
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costco, a popular retail chain in north america, recently opened three new stores in sacramento to cater to its customers. this exemplifies growth strategy
The fact that Costco opened three new stores to serve its customers exemplifies the growth strategy.
What is the growth strategy?It corresponds to an organizational plan that defines courses of action with the objective of reaching new markets and consumers. Some growth strategies are related to increasing market share, increasing investments and including benefits in the goods offered.
Therefore, a growth strategy when well implemented helps a company to create more value for the consumer, attracting and retaining them, in addition to becoming more competitive and positioned in the market.
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when allocating fixed manufacturing overhead cost to units under absorption costing, the total fixed overhead costs must be divided by the number of units
when allocating fixed manufacturing, overhead cost to units under absorption costing, the total fixed overhead costs must be divided by the number of units produced.
What is overhead cost?Overhead costs can be described as those costs that is been incurred when the company is in the process of manufacturing a a particular product.
It should be noted that this cost is very important in the process of running the company so that they remain in the business and also make the profit they all desire in the process.
In the process of creating the product, the cost do cover the expenses such as the labor as well as the materials that i needed in the production of the goods that the company is about to sell .
In conclusion, the total fixed overhead will be divided by the number of the unit of the product and this is the way that the over head cost will be created by the company.
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Check the complete question below:
when allocating fixed manufacturing overhead cost to units under absorption costing, the total fixed overhead costs must be divided by the number of units-------------
if $2000 is invested at an interest rate of 2.5% per year, compounded daily, find the value of the investment after the given number of years. (round your answers to the nearest cent.)
The value of the investment after the given number of years.
P = $2000
r = 2.5% = 0.025
n = 365 [Compounded daily]
a) t = 3 years
Therefore,
Value of the investment
= P (1 + (r/n))nt
= $2000(1 + (0.025 / 365))365 * 3
= $2000(1 + (0.025 / 365))1095
= $2155.76
b) t = 4 years
Therefore,
Value of the investment
= P (1 + (r/n))nt
= $2000(1 + (0.025 / 365))365 * 4
= $2000(1 + (0.025 / 365))1460
= $2210.33
c) t = 12 years
Therefore,
Value of the investment
= P (1 + (r/n))nt
= $2000(1 + (0.025 / 365))365 * 12
= $2000(1 + (0.025 / 365))4380
= $2699.69
To calculate each day compounding hobby, divide the once-a-year hobby fee with the aid of using 365 to calculate each day fee. Add 1 and lift the end result to the quantity of days hobby accrues. Subtract 1 from the end result and multiply with the aid of using the preliminary stability to calculate the hobby earned.
Assume that the $1,000 withinside the financial savings account withinside the preceding instance consists of a fee of 6% hobby compounded each day. This quantities to a each day hobby fee of: 6% ÷ 365 = 0.0164384%
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a financial services company recently launched an initiative to improve the security of its aws resources and it had enabled aws shield advanced across multiple aws accounts owned by the company. upon analysis, the company has found that the costs incurred are much higher than expected.
Consolidated billing isn't enabled. All AWS accounts should be subject to a single consolidated billing in order for the monthly fee to be charged only once.
What exactly is AWS consolidated billing?
Consolidated billing in AWS Organizations allows you to combine invoicing and reimbursement for multiple AWS accounts or numerous Amazon Internet Services Pvt. Ltd (AISPL) accounts. Each entity in AWS Organizations has a management account that covers all of the member accounts' charges.
The benefit is that you only have to pay one bill for all of your organization's AWS accounts. It facilitates cost tracking. Discounts that are shared across accounts. The maximum number of accounts allowed per organization is four.
Here is the complete question-
A financial services company recently launched an initiative to improve the security of its AWS resources and it had enabled AWS Shield Advanced across multiple AWS accounts owned by the company. Upon analysis, the company has found that the costs incurred are much higher than expected.
Which of the following would you attribute as the underlying reason for the unexpectedly high costs for AWS Shield Advanced service?
A. AWS Shield Advanced is being used for custom servers, that are not part of AWS Cloud, thereby resulting in increased costs
B. Consolidated billing has not been enabled. All the AWS accounts should fall under a single consolidated billing for the monthly fee to be charged only once
C. AWS Shield Advanced also covers AWS Shield Standard plan, thereby resulting in increased costs
D. Savings Plans has not been enabled for the AWS Shield Advanced service across all the AWS accounts
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As mateo considers how to share information about disaster preparedness with his audience of mostly people aged 65 and older, he needs to think about what kind of devices they use and how they consume information to help him decide on what? question 2 options: what color his logo should be what language the communications should be in if he should include information on hurricanes what type of media to use
Native American language should be used. Mateo should mail or newspaper to convince.
What is disaster preparedness?In order to better respond to and deal with the immediate aftermath of a disaster, whether it is caused by natural hazards or is human-induced, governments, organizations, communities, or individuals can take a number of precautions in advance.
What is importance of disaster preparedness?The dread, worry, and losses that come with disasters can be lessened by being prepared. Everybody in a community should be aware of what to do in the event of a fire and where to go for shelter during a severe storm.
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You have money in your wallet, but are not certain how much. When your friend asks you how much you have, you say that you have $35 plus or minus $10. Which equation could be used to determine the range of money you have in your wallet?.
The range of money you have can be expressed using inequality 25 ≤ x ≤ 45.
To express the range, the inequality is used. There are 5 signs of inequality.
≠ is not equal to
< is less than
≤ is less than or equal to
> is greater than
≥ is greater than or equal to
First, we need to translate the given word problem into an algebraic expression.
The money is $35 plus or minus $10.
The minimum value is: $35 - $10 = $25
The maximum value is: $35 + $10 = $45
Note that the end point is included in the range, hence we will use ≤ and the equation for the range is:
25 ≤ x ≤ 45
Where x is the amount of money in your wallet.
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Imagine that you are the hiring manager at a corporation like ge, with businesses in the healthcare, renewable energy, and operations data fields. Which basic building block of structure would you use as you scale down on managerial positions and scale up on engineering positions?.
Entrepreneurship is the act of starting a business with the intention of making a profit.
An entrepreneur is a person who chooses to accept the risk of founding a new business. Entrepreneurship is the process of combining labor and capital to generate goods or services for a profit.
The risk of doing something novel is taken on by entrepreneurs. Entrepreneurship is defined as the act of starting and running a new business while taking calculated risks in the corporate world. In other words, it has to do with your ability to plan and arrange.
They encourage new employment by developing new goods and services, which eventually accelerates economic growth. As a result, it is essential to implement governmental policies that support and promote entrepreneurship.
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The demand and salary for a particular career
A. vary in different parts of the country
B. are the same for the entire world
C. are the same in every part of the country
D. depend on how much education you have
A) vary in different parts of the country
I need the answer to the question below
Answer:
Explanation:
In case a cadbury's chocolate as cadbury owns the 80 percent of the market.
In case b water as water is daily need and cost of making is low and selling is high
in case c ciggrates are more elastic as for now ciggrates are addiction for large number of people.
In case d computer is used in day to day life and its easy to carry information rather than notepad
case e heating oil in one week as massaging body per week in required
case f bread is cheap as per caviar so large number of people can have in every case
What term is used to describe the process of eliminating a dimension of a data cube, such as might be done when summarzing product sales by quarter into total annual sales?.
The term that used to describe the process of eliminating a dimension of a data cube, such as might be done when summarizing product sales by quarter into total annual sales is data reduction.
Data reduction can be described as a process of reducing the amount of capacity required to store data. Data reduction can reduce costs and increase storage efficiency. Storage vendors will often describe storage capacity in terms of effective capacity and raw capacity, which refers to data after the reduction. here are at least four types of Non-Parametric data reduction techniques, such as:
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the performance section of principles underlying an audit conducted in accordance with gaas states that the auditor is unable to obtain absolute assurance that the financials are free of material misstatements because of inherent limitations which arise from all of the following except:
The presentation of the financial statements based on GAAS.
In a broad sense, an audit is an evaluation activity of an organization, from its systems, processes, to its products. The audit is usually carried out by a competent, objective, and impartial auditor. In general, the purpose of the audit itself is to verify that the data evaluated by the audit is in accordance with applicable standards, regulations, and practices.
Meanwhile, in the business world, auditing is better known for its role as financial statements carried out by public accountants in assessing whether or not a presentation of financial statements has been made by the company with reference to legally valid accounting principles.
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technological advances: group of answer choices shift only the short run aggregate supply curve to the right. shift only the long run aggregate supp
A mix of technological advances and improved economic efficiency will shift both the short-run and long-run aggregate supply curves to the right.
What is technological advances?
Technological advancement is indeed the advancement and innovation of science's utility. Science is an epistemological methodology that seeks to understand, describe, explain, and predict natural and mathematical phenomena through observation, investigation, experimenting, and, most importantly, falsification. When technologies or science – become more accurate, accurate, efficient, powerful, or capable, this is referred to as technological advancement. Throughout history, scientific and technological breakthroughs have brought about many significant changes, some better than others. Technology is any functionality and applicability of scientific understanding; that is, science is applied for practical use and purposes. A pencil is a piece of technology because it makes use of knowledge of the physical characteristics of graphite.
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in the terminology of the barringer/ireland business model template, a key asset is a specific factor or capability that supports a firm's business model and sets it apart from its rivals.
In the terminology of the Barringer/Ireland business model template, core competency a key asset is a specific factor or capability that supports a firm's business model and sets it apart from its rivals.
This is further explained below.
What is the firm's business model?Generally, The strategy that an organization implements in order to generate revenue is referred to as its "business model."
It describes the goods or services the company intends to provide for sale, the market segment that has been chosen as its primary focus, and any expenditures that are expected.
In conclusion, It is essential for startups as well as existing companies to have solid business models.
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CQ
in the terminology of the Barringer/Ireland business model template,_____ a key asset is a specific factor or capability that supports a firm's business model and sets it apart from its rivals.
(a) primary capability
(b) core competency
(c) essential asset
(d) staple proficiency
(e) key aptitude
emmy owns her house. she has full ownership rights to her property, could sell it whenever she wants, and can pass the property on to her heirs. what kind of estate does emmy have?
Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
The situation can be seen as present value of an annuity and therefore, the cash price is $5262.79.
The situation can be solved using present value of annuity, given by the formula:
PV = C . [1 - (1+i)⁻ⁿ] / i
Where:
C = payment per period
i = interest rate per period
n = number of periods
Parameters from the problem:
C = $174. 80
Annual interest = 12%, hence,
i = monthly interest = 0.12/12 = 0.01
n = 12 x 3 = 36
Plug the parameters into the formula:
PV = 174.8 × [1 - (1.01i)⁻³⁶] / 0.01
PV = 5262.79
Thus, the cash price of Corrie's purchase is $5262.79
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people tend to buy more expensive wine when a restaurant offers valet parking as opposed to when does not. this is an example of consumers being influenced via .
centralized; dispersed. wine Principal persuasive strategy:
The phrase "central path to persuasion" refers to a process in psychology when a person is persuaded by the "content" of a particular communication.
A sideways path to persuasion The phrase "peripheral route to persuasion" refers to a process in psychology where a person is persuaded by anything other than the "content" of the message.
The provided statement in the aforementioned question illustrates both the central and peripheral paths to persuasion. people tend to buy more expensive wine when a restaurant offers valet parking as opposed to when does not.
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if during the year the portfolio manager sells all of the holdings of stock d and replaces it with 150,000 shares of stock e at $30 per share and 150,000 shares of stock f at $40 per share, what is the portfolio turnover rate? (round your answer to 2 decimal places.)
The rate at which portfolio managers buy and sell assets in a fund is known as the portfolio turnover ratio then the portfolio turnover rate is 30.10%.
What is meant by portfolio turnover rate?The rate at which portfolio managers buy and sell assets in a fund is known as the portfolio turnover ratio. The portfolio turnover ratio, then, is the percentage change in a fund's assets over a 12-month period.
According to the scenario, the given data exists as follows:
Stock A price = $30
Value of stock A = $30 × 210,000 = $6,300,000
Stock B price = $35
Value of stock B = $35 × 310,000 = $10,850,000
Stock C price = $10
Value of stock C = $10 × 410,000 = $4,100,000
Stock D price = $15
Value of stock D = $15 × 610,000 = $9,150,000
We can estimate the portfolio turnover rate by utilizing the following formula:
Portfolio turnover rate = Value of stocks sold or purchased / Market Value of Assets
Where, Market Value of Assets = Value of stock A + Value of stock B + Value of stock C + Value of stock D
= $6,300,000 + $10,850,000 + $4,100,000 + $9,150,000
= $30,400,000
Value of stock sold = value of stock D = $9,150,000
By putting the following values in the formula:
Turnover Rate = 9,150,000 / 30,400,000
= 30.10%
Therefore, the portfolio turnover rate is 30.10%.
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kubin company’s relevant range of production is 20,000 to 23,000 units. when it produces and sells 21,500 units, its average costs per unit are as follows: average cost per unit direct materials $ 8.00 direct labor $ 5.00 variable manufacturing overhead $ 2.50 fixed manufacturing overhead $ 6.00 fixed selling expense $ 4.50 fixed administrative expense $ 3.50 sales commissions $ 2.00 variable administrative expense $ 1.50
1 ) Variable cost per unit If 20,000 units are produced and sold is $19.00
2) Variable cost per unit If 23,000 units are produced and sold is $19.00
3) Total amount of variable cost if 20,000 units are produced and sold is
$380,000
What is variable cost?Variable and fixed costs make up the majority of any business's overall expenses. The production output or sales determine variable costs. The production's variable cost is a fixed sum for each unit made. Variable costs will rise if output & production volume do as well. In contrast, when fewer products are produced, the production's variable costs correspondingly fall.
1 ) Variable cost per unit If 20,000 units are produced and sold
Variable cost per unit = Direct materials + Direct labor + Variable manufacturing overhead + Sales commissions + Variable administrative expense
Variable cost per unit = $ 8.00 + $ 5.00 + $ 2.50 + $ 2.00 + $ 1.50
Variable cost per unit = $19.00
2 ) Variable cost per unit If 23,000 units are produced and sold
Variable cost per unit = Direct materials + Direct labor + Variable manufacturing overhead + Sales commissions + Variable administrative expense
Variable cost per unit = $ 8.00 + $ 5.00 + $ 2.50 + $ 2.00 + $ 1.50
Variable cost per unit = $19.00
3 ) Total amount of variable cost if 20,000 units are produced
Total amount of variable cost = No. of units produced and sold * Variable cost per unit
Total amount of variable cost = 20,000 × $19.00
Total amount of variable cost = $380,000
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Full question
Kubin Company's relevant range of production is 20,000 to 23,000 units.
When it produces and sells 21,500 units, its average costs per unit are as follows:
Amount per Unit
Direct materials $ 8.00
Direct labor $ 5.00
Variable manufacturing overhead $ 2.50
Fixed manufacturing overhead $ 4.00
Fixed selling expense $ 4.50
Fixed administrative expense $ 3.50
Sales commissions $ 2.00
Variable administrative expense $ 1.50
Required:
1. If 20,000 units are produced and sold, what is the variable cost per unit produced and sold? 2. If 23,000 units are produced and sold, what is the variable cost per unit produced and sold? 3. If 20,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold?
if all units are purchased at the same unit cost, cost of goods sold will ? multiple choice differ under fifo and lifo and be the same under weighted-average and specific identification. differ under specific identification and fifo, but lifo and weighted-average methods will be the same. be the same for all four methods. be different for all four methods.
If all units are purchased at the same unit cost, cost of goods sold will be the same for all four methods.
The cost of goods sold (COGS) refers to the direct costs of manufacturing the commodities sold by a corporation. The cost of the materials and labour used directly to make the good are included in this sum. Indirect costs like those associated with the sales force and distribution are not included.
The cost of goods sold (COGS) is the cost of obtaining or manufacturing the products that a company sells during a certain period, hence the only costs included in the metric are those directly related to product creation, such as labour, materials, and factory overhead. Only expenses used directly in generating that income, like the company's inventory or labour costs that can be linked to specific sales, are used to calculate COGS.
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in the past, peter kelle's tire dealership in baton rouge sold an average of radials each year. in the past 2 years, and , respectively were sold in fall, and in winter, and in spring, and and in summer. with a major expansion planned, kelle projects sales next year to increase to radials.
Demand will be 336 for the upcoming summer.
By sales, what do you mean?Any exchange of goods or services for money or other assets, between two or more parties, is referred to as a sale. A sale in the financial markets is an agreement between a buyer and a seller that covers the cost of a security and its delivery for predetermined payment.
To determine the demand for each sale, we must first determine the average sale for each season, which is displayed below:
Fall average sale= (240 + 260) ÷ 2 = 250
Winter sales on average = (340 + 300) ÷ 2 = 320
Springtime average sale= (140 + 160) ÷ 2 = 150
Average summer sales = (320 + 240) ÷ 2 = 280
Demand for the upcoming fall = (250 ÷ 1,000) × 1,200 = 300
Demand for the upcoming winter = (320 ÷ 1,000) × 1,200 = 384
Demand for the spring = (150 ÷ 1,000) × 1,200 = 180
Demand for the upcoming summer = 1,200 - (300+384+180) = 336
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The correct question is:
In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1 comma 000 radials each year. In the past 2 years, 240 and 260, respectively were sold in fall, 340 and 300 in winter, 140 and 160 in spring, and 320 and 240 in summer. With a major expansion planned, Kelle projects sales next year to increase to 1 comma 200 radials. Based on next year's projected sales, the demand for each season is going to be (enter your responses as whole numbers):
Nestor company uses the periodic inventory system. Its purchases for the most recent year were $72,000, ending inventory was $18,000, and the cost of goods sold was $112,000. How much inventory was in stock at the beginning of the year?.
To find out opening inventory first deduct purchases from ending inventory, and then deduct this sum from cost of goods sold. $112,000 - ($72,000 - 18,000) = $58,000
A crucial and frequently used phrase for organisations dealing with commodities and products is inventory or stock. All products, commodities, and supplies that a business has on hand for sale are included in its inventory.
Inventory at a production plant consists of raw materials on hand, semi-finished commodities in the plant and warehouse, and finished goods that are ready for sale.
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