had the following balances and transactions during​ 2018: Beginning Merchandise Inventory 10 units at $74 March 10 Sold 7 units June 10 Purchased 30 units at $84 October 30 Sold 25 units What is the amount of the​ company's ending Merchandise​ Inventory, as disclosed in the December​ 31, 2018 balance​ sheet, using the periodic LIFO inventory costing​ method?

Answers

Answer 1

Answer:

$592

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

the ending inventory would consist of earlier purchased goods.

total goods sold is 32. it would be taken from the purchase on June 10 and 2 units would be taken from beginning inventory.

ending inventory = 10 -2 = 8 x $74 = $592


Related Questions

Of the common core capabilities that serve to unify the mission areas, which provides a complete and integrated picture of the sequence and scope of the tasks to achieve objectives?

Answers

Answer:

Planning

Explanation:

The process that accomplishes this is known as Planning. This is the process of thinking and outlining all specific activities and materials that are required in order to achieve the desired goal, as well as the specific step by step sequence and importance level of each step. Thus, allowing the entire project/vision to be seen by everyone so that everyone knows what they are working towards.

1) You only have $10 to spend for the week. You decide to spend $8 on a movie instead of buying an $8 pizza. a. What is the scarce resource? Why is this the scarce resource? b. What are the two potential choices you had? c. What is the opportunity cost of the choice you made?

Answers

A)Money is the scarce resource because you only have enough for buying one thing.
B) movie or pizza
C)?

A Fractional Factorial experiment uses _________ of combinations from a Full Factorial experiment. They are applicable when there are too many inputs to screen practically or cost or time would be excessive.

Answers

Answer: subset

Explanation:

A fractional factorial experiment utilizes subset of combinations that are gotten from the full factorial experiment. They are applicable when there are too many inputs to screen practically or cost or time would be excessive.

Also, using the fractional factorial experiment makes running the experiments faster and cheaper.

A(n) _____ staffing approach is compatible with an international strategy but can produce resentment in the host country.

Answers

Answer:

geocentric  

Explanation:

The staffing policy which which seeks for staffing the best people for main jobs throughout the organization, regardless of their nationality is called geocentric policy. It is very much compatible to any international strategy but there can be some resentments in the host country due to cultural myopia.

There can be also lack of some management transfers from the home country  to the host countries also from the host to home. There can be lack of integration also.

On February 1, 2020, ABC Company factored receivables with a carrying amount of $700,000 to Agee Company. Agee Company assesses a finance charge of 3% of the receivables and retains 5% of the receivables. Relative to this transaction, you are to determine the amount of loss on sale to be reported in the income statement of Henson Company for February.
Assume that Herson factors the receivables on a with recourse basis. The recourse obligation has a fair value of $3,500. The loss to be reported is:_________

Answers

Answer:

$42,000

Explanation:

The computation of the loss to be reported is shown below:

As there are finance charge of 3% and retains 5% so the total percentage of loss  is 8%

And, the carrying amount os $700,000

So, the loss i.e. to be reported is

= Carrying amount ×  total percentage of loss

= $700,000 × 8%

= $42,000

hence, the loss is $42,000

According to the situational leadership theory, if employees are unwilling and unable, the appropriate leadership style in this situation would be

Answers

Answer:

directive

Explanation:

Directive leadership is a form of leadership, often employed by managers or supervisors in mostly a situation whereby the task to be carried out or done is intricate or difficult and the employees assigned to it, are unwilling and unable. This style of leadership is considered the most appropriate or effective according to situational leadership theory.

Hence, the correct answer in this situation is DIRECTIVE.

Magnira Corp., a small-scale e-learning firm, recently bought a three-year license of a cloud-based software. The software provides email services and social networking services on a secure platform. In this scenario, it is evident that Magnira Corp. has incurred _____.

Answers

Answer: Communication cost

Explanation:

All or most server companies do allocate some form of liscence to their clients to browse the internet and use some internet tools for space of a period time. This service could either provide internet service or more depending on the cost and the kind of package that was bought. The process of acquiring this could be known as communication cost.

S) Barkley and James cannot attend training during the exercise. They must attend before 4 May or after 25 May. Identify the concept used to determine the derivative classification of the new document.

Answers

Answer:

Revealed by

Explanation:

The revealed by is the concept that is applied in the case when the classification of the derivatives for the new document is inbuilt and get the authorized source for classification into a new document plus the same is to not seen in the source document

Therefore the concept i.e used to determine the classification of derivatives is revealed by concept

Activities that generate external costs will likely be carried out at levels that _____ those that would be efficient.

Answers

Answer:

exceed

Explanation:

In simple words, External losses (also recognized of externalities) relate to the economic definition of uninsured environmental or social impacts. Of example , when people purchase gasoline for a vehicle, they charge for the manufacture of the gasoline (internal expense), though not for the expense of consuming the gasoline, like environmental pollution.

Thus, such costs usually occur when the activities are carried at a level upon their efficiency leading to exploitation and degradation of other resources of use.

The procedure that best discourages the resubmission of vendor invoices after they have been paid is

Answers

Answer:

The cancellation of vouchers by treasurer personnel

Explanation:

When a business uses vendors for some of its service needs there is the possibility of paying vendors twice for the same service of invoice is submitted twice.

The treasurer is the person that disbursed funds to vendors for services rendered. He is tasked with cross checking if payments are duplicated.

To avoid this it is best to have the treasurer personnel cancel vouchers that have been paid.

This will provide an effective check on duplicate payments.

The common stock of Flavorful Teas has an expected return of 12.00 percent. The return on the market is 8 percent and the risk-free rate of return is 3.0 percent. What is the beta of this stock?

Answers

Answer:

1.8

Explanation:

The beta of the stock can be calculated by rearranging the expected return formula. The expected return formula is given below

DATA

Risk free rate of return = 3%

Return on the market = 8%

Expected return = 12%

Beta =?

Expected return = Risk free rate of return x Beta( Return on market - Risk free rate of return)

12% = 3% x Beta(8% - 3%)

12% - 3% = Beta (5%)

9% / 5% = Beta

Beta = 1.8

In January 2017, Khors Company issued nonqualified stock options to its CEO, Jenny Svaro. Because the company did not expect Ms. Svaro to leave the company, the options vest at the time they are granted with a total value of $52,500. In December of 2018, the company experienced a surge in its stock price, and Ms. Svaro exercised the options. The total bargain element at the time of exercise was $65,000. For 2018, what is the book-tax difference due to the options exercised?

Answers

Answer: $65,000 favorable

Explanation:

From the question, we are informed that January 2017, Khors Company issued nonqualified stock options to its CEO, Jenny Svaro and that because the company did not expect Ms. Svaro to leave the company, the options vest at the time they are granted with a total value of $52,500.

We are further told that in December of 2018, the company experienced a surge in its stock price, and Ms. Svaro exercised the options and that the total bargain element at the time of exercise was $65,000.

For 2018, the book-tax difference due to the options exercised will be a favorable of $65000. It should be noted that the company will deduct $52500 as the stock option value in 2017 for financial purpose.

A mutual fund invested in bonds with medium-length maturities. As the bonds matured, the fund reinvested the proceeds and purchased long-term bonds with maturities of up to 20 years. What might have happened to the fund if the reinvestment had occurred during a period when interest rates were rising

Answers

Answer:

III and IV

Explanation:

As if the greatest the number of years for maturity, the chances of the risk is high also the long term bonds contains the high rate of interest as compared with the medium or short term bonds

Also if the fund replace with the medium to long term so the rate of interest could be highly charged that earned more income also if the rate of interest is increased the yield also increased

So based on the given option, the third and fourth option is correct

A marketing manager has discovered that relevant, internal secondary data don't exist to support a decision process. The next step the manager should take is to

Answers

Answer: Look for external sources for the relevant data

Explanation:

To get some process accomplished in some firms, you might not really have all information available to you when carrying out the task, some which you thought to help might not be capable to carrying out the task. One fo the best thing to do is to source for information outside the information you received for the project to complete the task you have at hand. As the manager, you have to source for external information to complete the task.

A special agreement between the lender and the borrower to delay a foreclosure is known as what...? Lis Pendens Postponement Forbearance Suspension

Answers

Answer:

Forbearance

Explanation:

Forbearance is a term used in mortgaging that means an agreement between two parties; borrower and lender, to delay foreclosure.

Forbearance according to the dictionary means to hold back. That is, delaying or postponing an event of debt default.

Cheers

Because there are a variety of factors in addition to inflation that affect exchange rates, this will

Answers

Available Options Are:

A. Reduce the probability that PPP shall hold.

B. Increase the probability that PPP shall hold.

C. Increase the probability the IFE will hold.

D. B and C

Answer:

Option A. Reduce the probability that PPP shall hold

Explanation:

The reason is that Purchasing Power Parity Theory assumes:

Perfect Market Conditions, No Trade Barriers exist.No Transaction Cost exists.No technological dominance of other countriesFree Trade across the world

These are some factors that will definitely affect the reliability of the theory. Hence these assumptions are unrealistic and it is obvious that the model will not hold true because of these unrealistic assumptions and other factors like interest rate, government debt, recession, etc.

Hence the option A is correct here.

If Option A is correct then Option B is incorrect because is totally opposite.

Option C is incorrect because it assumes that their are no external factors that will be affecting the exchange rate which means that the exchange rate is not controlled by the government. This means it only holds for long term and not for short term. Hence the Option C is incorrect.

"A customer who earns $80,000 per year is 35 years old, married to a non-working spouse, has a 5-year-old child, has no retirement savings and does not have a will. This customer receives $250,000 in a single stock as an inheritance from her deceased aunt. What is the first thing that the customer should do?"

Answers

Answer:

It should diversify the stock position.

Explanation:

The first thing the customer should do is that it should diversify the stock position because it is a single stock holding and it must be diversified this stock. One thing that is the main concern for the customer that he does not have any retirement savings and he has only inheritance stock. If the market situation becomes adverse then he may face huge losses because he is a single stock holding. However, the diversification will reduce the risk of loss so he should diversify it.

If a good's production process results in pollution and the government taxes producers to pay for cleanup costs, then :______

a. consumers will purchase more of the good.
b. the price of the good will decrease.
c. supply will decrease.
d. the quantity of the good produced will increase.

Answers

Answer:

c. supply will decrease.

Explanation:

If a good's production process results in pollution and the government taxes producers to pay for cleanup costs, then supply will decrease.

Generally, when consumers of a particular product notices that the product has an adverse effect on the environment (pollution) or it is a product that causes environmental degradation, they are most likely to stop demanding or buying such products. Consequently, as the demand for such goods falls or decreases; there would be a fall in the supply of such goods. This is so because the demand for goods and services is directly proportional to the amount of quantity supplied.

Fayol suggested that workers be given more ______ in order to counteract the boredom that many workers feel arising from too much specialization.

Answers

Answer:

job duties

Explanation:

The job duties refers to the duties that have to be performed while in a job. Different specialization people has the different jobs duities that have to be performed on the daily basis

Since in the question it is mentioned that Fayol recommend that workers provided more job duties so that the boredom could be minimized

Hence, the job duties would be conisdered

Regarding a broker's commission, the California Business and Professions Code requires that in the sale of residential property (of not more than four units) the listing contain the following provision before the compensation clause: "Notice: The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker." This clause must be printed:

Answers

Answer:

The remaining part of the question is:

They are set by each broker individually and may be negotiable between the seller and broker.” This clause must be printed:

1. In not less than 8-point boldface type.

2. In not less than 10-point boldface type.

3. In not less than 11-point boldface type.

4. In not less than 12-point boldface type.

Correct Answer:

2. In not less than 10-point boldface type.

Explanation:

In-order to print the clause, the 10-point boldface type should be the minimum font on which the compensation clause is printed. It would make it easier to read.

The compensation clause must be printed: In not less than 10-point boldface type.

A compensation clause can be defined as an amount of money that is paid to property owners with respect to the legal seizure of their private (personal) property such as a land, especially for public use by the government. Thus, a private (personal) property owner is paid the fair market value for his or her property based on the compensation clause.

Additionally, the compensation clause is legally defined under the Takings Clause in the Fifth Amendment of the Constitution of the United States of America.

According to the California Business and Professions Code, the compensation clause must be printed in not less than 10-point boldface font type, so that is legible or readable for mortgage brokers, agents, borrowers, owners and other parties involved.

Read more on compensation clause here: https://brainly.com/question/4569941

California residents Kate and Jennifer decide to make a "deal": Kate will sell Jennifer her new Dell laptop for $600, a steal since she paid over $1,000 for it. They both feel they've gotten a great deal. Does this agreement need to be in writing, under California law?

Answers

Answer:

Yes, because under California law, an agreement for the sale of personal property must be in writing if the amount or value of the property exceeds $500.00

Explanation:

The "Statute of Frauds provisions require a contract written and signed  by the the parties involved in the contract for certain types of contract for such contracts to be binding and enforceable. The Statute of Frauds is applicable to contracts that are likely to be subjected to fraud such as marriage contracts, agreement that lasts over a year, repayment of another person's debt, real estate and sale of goods worth $500 and above.

Concord Corporation produces several products that can be sold at the split-off point or processed further and then sold. The following results are from a recent period: Product Sales Value at Split-off Additional Variable Costs Sales Value after Further Processing Green lumber $159600 $24000 $178000 Rough lumber 126000 28500 176400 Sawdust 106000 20300 134400 What is the increase in profit if the appropriate products are processed further?

Answers

Answer:

only two products should be processed further because they will generate additional profit:

further processing rough lumber generates $21,900 in additional profitsfurther processing sawdust generates $8,100 in additional profitstotal additional profits = $30,000

Explanation:

Product              Sales value        Additional var.       Sales value after

                          at split-off          costs                       further processing

Green lumber    $159,600          $24,000                 $178,000

Rough lumber    $126,000          $28,500                $176,400

Sawdust             $106,000          $20,300                 $134,400

the additional profits generated by further processing are:

green lumber = ($178,000 - $159,600) - $24,000 = -$5,600

rough lumber = ($176,400 - $126,000) - $28,500 = $21,900

sawdust = ($134,400 - $106,000) - $20,300 = $8,100

One reason given for the decline in the number of U.S. Workers employed in manufacturing is that manufacturing firms in the U.S. Have become more efficient.

Answers

Answer: True

Explanation:

The reason There have been a high decline in numbers of workers employed in the manufacturing industries is as a result of advancement in Technology, this technology had made work more efficient, faster, reliable and more productive. Which has result in the need of fewer workers to man this machines.

Mr. Squarepants deposited $10,000 cash into his account at Bank A. If the required reserve ratio is 10%, Bank A has to keep _____ in the form of required reserves and can make a loan equal to _____. Group of answer choices

Answers

Answer:

Keep $1000

Loan $9000

Explanation:

Reserve ratio is the requirement of the central bank that commercial banks must hold unto a certain portion of deposits at all time rather than investing or lending out in order to meet any large and unexpected demand for withdrawal. It is used to control the money supply in the society and influence interest rate.

If the reserve ratio is 10% . This means that 10% of the deposit must be kept as reserve in the bank and the maximum amount available to be given out is 90%

Workings

10% of 10000 = 1000

90% of 10,000 = 9000

A seller sold a house to a buyer allowing the buyer to take over the loan on a "subject to" basis. After 2 years, the buyer defaulted on the loan. Who would be liable to the lender for the note?

Answers

Answer:

The Seller would be primarily liable

Explanation:

Since in the question, it is mentioned that the seller had sold a house to a buyer for taking up the loan i.e. based on a subject. But after two years the buyer does the default and does not pay the money.

Therefore for lending the note, the seller is primarily liable as the seller permit the buyer for taking the loan

In an open​ economy, a contractionary fiscal policy will have a​ ________ impact on aggregate demand​ and, therefore, will be​ ________ effective in slowing down an economy.

Answers

Answer:

The answer is smaller, less

Explanation:

Definition of terms:

Open economy is an economy that does not restrict itself to only domestic economy but rather trade freely with other economies of the world.

Contractionary fiscal policy is used by the government of a country to slow down the economy. Here, government either increases tax or cut its spending.

So a contractionary fiscal policy in an open economy will have a SMALLER impact on aggregate demand because increase in trade with other economies will neutralize this policy and will be LESS effective in slowing down the economy.

Under the Uniform Securities Act, the threshold where a State-registered adviser is considered to have taken custody of client funds if it charges prepaid advisory fees, is:

Answers

Answer:

The advisory fees will be "$500, 6 months or more in advance of rendering services".

Explanation:

Whenever a nation-registered investment manager recognizes $500 (and sometimes more) of advanced consulting fees, 6 months more than before anticipation of providing services, then perhaps the consultant is deemed to have obtained ownership of customer funds being defined by NASAA.(In comparison, it should also be noted that perhaps the Advisers (investment) Act of year 1940 established the cap at $1,200 among Federal Covered consultants, although that wasn't the law for govt-registered consultants).

Many economists believe that the market for wheat in the United States is an almost perfectly competitive market. If one firm discovers a technology that makes its wheat taste better and have fewer calories than all other wheat offered in the market, the wheat market would become less competitive because

Answers

Answer:

the products would no longer be similar in the wheat market.

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

the products would be different because the wheat of the firm that made the discovery would taste better and have less calories. this would make the wheat market would become less competitive because a key characteristic  of perfect competition is homogeneity of products.

An IAR (Investment Adviser Representative) is employed by a Registered Investment Adviser in a State. The IAR has a young, wealthy, client with an investment objective of aggressive growth. To meet the objective, the IAR engages in active trading strategies, using an outside broker to effect the trades at a discounted rate. The IAR receives a small payment from the broker for these trades. Which statement is TRUE

Answers

Correct/Complete Question:

An IAR (Investment Adviser Representative) is employed by a Registered Investment Adviser in a State. The IAR has a young, wealthy, client with an investment objective of aggressive growth. To meet the objective, the IAR engages in active trading strategies, using an outside broker to effect the trades at a discounted rate. The IAR receives a small payment from the broker for these trades. Which statement is TRUE?

A. Because the payment received by the IAR is small, there is no requirement to notify the client of the payment arrangement with the executing broker

B. Because the client has an investment objective of aggressive growth, requiring an active trading strategy, there is no requirement to notify the client of the payment arrangement with the executing broker

C. The IAR must notify the client of the payment arrangement with the executing broker

D. The IAR must notify RIA of the payment arrangement with the executing broker

Answer:

C, The IAR must notify the client of the payment arrangement with the executing broker.

Explanation:

It is important that the IAR notifies the client of the payment arrangement with the executing broker. This is because the client has the right to know everything that is happening with his stocks that is being traded.

This also helps to put the IAR in good light.

Cheers

When negotiating, the tendency is to want to win! Why is this not a good approach when managing contracted relationships

Answers

Answer:

All of these are reasons a competitive approach to negotiation should not be used when managing contracted relationships.

Explanation:

Negotiation may be defined as a dialogue that is carried between two or sometimes more than two people or parties that are intended to reach a beneficial result or an outcome over some issues where there is a conflict between the people or parties.

It is suggested that while negotiating with the contracted parties, it is not always good to have the winning tendency --

-- such approach may cause some dysfunctional conflict to rise and then negotiations to break down.

-- this kind of approach inhibits a degree of trust and also the cooperation needed for the partners to work

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