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Step2247 [10]
2 years ago
3

Piper Pipes has the following inventory data: July 1 Beginning inventory 20 units at $120 5 Purchases 120 units at $112 14 Sale

80 units 21 Purchases 60 units at $115 30 Sale 56 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis? Group of answer choices $15,412. $7,348 $15,392. $7,328
Business
1 answer:
dexar [7]2 years ago
4 0

Answer:

$15,412

Explanation:

(60 x 115) + [(80 + 56 - 60) x 112]

6,900 + (76 x 112)

$6,900 + $8,512

= $15,412

Therefore the cost of goods sold on a LIFO basis will be $15,412

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a simplified alternative to capitalization of net income that does not take into account bad debts or expenses is called?
mestny [16]

<u>Answer:</u>

The correct answer for this is: Gross Rent Multiplier.

<u>Explanation:</u>

The type of a simplified alternative to capitalization of net income that does not take into account bad debts or expenses is called Gross Rent Multiplier (GMR).

Gross Rent Multiplier is used to find the approximate net incomes that does not include any bad debts or expenses.

Also, it is considered as the quickest tool to estimate the values, such as of a building.

6 0
2 years ago
Your local movie theater earns a total revenue of $40,000 per month when the price of a movie ticket is $8, and it earns a total
raketka [301]

Answer:

Inelastic

Explanation:

Elasticity of demand = percentage change in quantity demanded / percentage change in price

percentage change in quantity demanded =

35,000 - 40,000/40,000 = -0.125 = -12.5%

percentage change in price = $10 - $8 / $8 = 0.25 = 25%

Elasticity = -12.5%/25%= -0.5

Demand is inelastic because the elasticity of demand is a less than 1.

Elasticity of demand measures how quantity demanded changes when price change.

Demand is inelastic when a change in price has no effect on quantity demanded. Inelastic demand has a value of less than 1 .

Demand is elastic if a change in price has an effect on quantity demanded. Elastic demand has a value of more 1

Unitary elastic is when a change in price has the same proportional effect on a change in quantity demanded. Unitary elastic demand has a value of 1.

7 0
2 years ago
Paul Davis wants to deposit a lump sum of money today for a vacation that he plans to take to Asia after he graduates from Gradu
Yuri [45]

Options:A) Present value of a single amount

B) Future value of a single amount

C) Simple interest

D) Present value of an annuity

E) Future value of an annuity

Answer:B) Future value of a single amount.

Explanation: Future value of a single amount is an accounting concept used to describe how much a single lump sum of money deposited in a bank account would have grown up to after a given period of time. Future value of a single amount can be obtained by

multiplying the principal(P)*the interest rate(I) * time(t) The interest rate is expressed as a decimal.

The FV = P(1 + rt).

Future value of a single amount is usually used in calculating the total accrued amount of fixed deposits accounts,it is a single period investment.

4 0
2 years ago
If the marginal cost of producing the tenth unit of output is $3, and if the average total cost of producing the tenth unit of o
Dahasolnce [82]

Answer:

True

Explanation:

Since marginal cost is above the average total cost so average total cost is rising.

8 0
2 years ago
In 2019, if Lisa Monroe decides that the market uncertainty for Seymour Semiconductors has reduced considerably while the high t
faust18 [17]

The correct answer is C) grow.

Lisa Monroe's mandate that called for the company's future manufacturing plants to be built with the ability to add capacity at low cost gives Seymour Semiconductors the option to grow.

That is why Lisa Monroe, as the new CEO of the company, wants some innovative changes for the company to adapt to modern times, different consumers' necessities, and the fierce competition of other companies in the industry.

She made the decision to change the strategical approach of  Seymour Semiconductors. She has decided to lay off 1,000 employees. She has opted to hire temporary workers. With those decisions, she considers that the company will be able to grow again.

8 0
2 years ago
Read 2 more answers
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