character company, which uses the perpetual inventory method, purchases different letters for resale. character had a beginning inventory comprised of seven units at $5 per unit. the company purchased six units at $7 per unit in february, sold eleven units in october, and purchased three units at $8 per unit in december. if character company uses the lifo method, what is the cost of goods sold for the year?
Answers
According to the given data, the Character company purchases different letters for resale, and it uses the perpetual inventory method.
The cost of goods sold (COGS) for the year using the LIFO method is as follows:
Beginning inventory consisted of seven units at $5 per unit.
Hence, its total cost = 7 × $5 = $35.
In February, the company purchased six units at $7 per unit.
Hence, its total cost = 6 × $7 = $42.
In December, the company purchased three units at $8 per unit.
Hence, its total cost = 3 × $8 = $24.
The total units sold by the company during the year = 11.
Cost of goods sold (COGS) using the LIFO method means we take the cost of the last units sold and then work backward.
Therefore,COGS = $7 × 6 (last units sold) + $8 × 3 + $5 × 2 (first units sold)COGS = $42 + $24 + $10COGS = $76
Thus, the cost of goods sold for the year is $76 using the LIFO method.
to know more about cost of goods sold refer here:
https://brainly.com/question/30767699#
#SPJ11
Related Questions
A person decides to buy a book to read rather than buying a movie ticket. The movie ticket that the person has given up, is known as
Answers
Answer:
deficit
Explanation:
The person decided to buy a book rather than buy a movie ticket. The movie ticket given by the person is his opportunity cost.
What is an opportunity cost?Opportunity cost refers to the cost of forgone alternative. In simple words, it means the level of satisfaction that can be derived from choosing another thing over one.
If the person buys the book rather than buying a movie ticket, the satisfaction that can be derived from watching the movie will be termed as the opportunity cost incurred by the person.
Therefore the correct option is opportunity cost.
Learn more about opportunity costs here:
https://brainly.com/question/17311000
companies often make potential employees complete applications, interviews, background checks, and many other processes prior to hiring them. the eeoc considers all of these processes to be
Answers
The EEOC considers the potential employees complete applications, interviews, background checks as Selection tools.
The EEOC is an acronyms for the federal agency called Equal Employment Opportunity Commission.
Basically, the HR personnel of a companies conducts various test, research and interviews for job applicant to allows the organization select the most qualified applicant for a job role.
All the procedure used by the HR personnel such as complete applications, interviews, background checks and other processes prior to hiring them are seen as Selection tools by the EEOC.
Learn more about Selection tools here
brainly.com/question/18188109
You have become a trusted resource for your organization, and they have asked for your advice on gaining a competitive advantage in the field. More specifically, they would like your analysis and recommendations on ways to bring their company culture, demographics, and technologies up to current industry practices and beyond. Review the demographic and technological information about your company. If the information is not public, base your decisions on a similar company and research. This information will assist you as you complete your Organizational Presentation in Step 2 of this assessment.
Answers
Improving company culture, demographics, and technologies can contribute to gaining a competitive advantage.
To enhance company culture, it is essential to foster an environment that values employee engagement, collaboration, and innovation.
This can be achieved through initiatives such as promoting open communication channels, encouraging continuous learning and professional development, recognizing and rewarding employee achievements, and creating a diverse and inclusive workplace culture.
In terms of demographics, it is important to have a workforce that reflects the diversity of the customer base and target market. This can be achieved through targeted recruitment and hiring practices, implementing diversity and inclusion programs, and providing equal opportunities for career growth and advancement.
Regarding technology, staying up to date with current industry practices and adopting cutting-edge technologies can give your organization a competitive edge. This may include investing in cloud computing, data analytics, artificial intelligence, automation, and digital transformation initiatives.
It is crucial to regularly assess technological needs, conduct market research, and invest in training and development to ensure employees have the necessary skills to leverage these technologies effectively.
For more such question on company visit:
https://brainly.com/question/6528766
#SPJ8
To examine
the weekly payroll of all employees, one would look at the:
Answers
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
Learn more about the payroll register here:
https://brainly.com/question/24265652
#SPJ1
Consider golfers who led the Professional Golfers’ Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation).
Year Golfer Nominal Winnings U. S. CPI Winnings in 2018 Dollar
1965 Jack Nicklaus 140,752 31. 5
1974 Johnny Miller 353,022 49. 3
1986 Greg Norman 653,296 109. 6
2018 Tiger Woods 5,443,841 251. 1 5,443,841
According to the previous table, the golfer with the highest PGA winnings in nominal dollars is not the same as the golfer with the highest PGA winnings after adjusting for inflation.
a. True
b. False
Answers
the statement is true, as the golfer with the highest PGA winnings in nominal dollars is not the same as the golfer with the highest PGA winnings after adjusting for inflation.
To determine the golfer with the highest PGA winnings after adjusting for inflation, we need to consider the values in terms of real or inflation-adjusted dollars. The U.S. Consumer Price Index (CPI) is used to measure the general level of prices for goods and services over time. By applying the CPI, we can convert the nominal winnings figures to their equivalent values in 2018 dollars.
In the table, Tiger Woods had the highest nominal winnings of $5,443,841 in 2018. However, after adjusting for inflation using the U.S. CPI, we find that the golfer with the highest winnings in 2018 dollars is Johnny Miller in 1974, with winnings of $1,800,122. This means that despite having the highest nominal winnings, Tiger Woods' winnings are surpassed by Johnny Miller's when considering inflation.
Learn more about winnings here : brainly.com/question/32599181
#SPJ11
Which of the following is NOT a fixed expense?
Answers
Answer:
?????????????????
Explanation:
Fixed expenses are costs that do not change from month to month and do not change according to the needs. So, Groceries are not a fixed expense. Option D. is correct.
Groceries are a variable expense, as the amount spent on groceries can vary depending on dietary needs, shopping habits, and other factors. So, groceries can vary according to needs because Variable expense is a cost that varies depending on usage.
While the other options Car payment, Insurance premiums, and Gym membership are included in fixed expenses.
Therefore, the correct option is D.
Learn more about the fixed expenses, here:
https://brainly.com/question/25353954
#SPJ6
This is an incomplete question, probably the complete question is:
Which of the following is NOT a fixed expense?
A. Car payment
B. Insurance premiums
C. Gym membership
D. Groceries.
Which type of worker would most likely be able to begin work after receiving a high school degree and completing
an on-the-job apprenticeship?
A. a miner
B. a forester
C. a conservationist
D. a park worker
Answers
when deriving the equity value of a firm, an analyst forecasts the real dividends expected to be paid in the future. in this case, which discount rate should be used?
Answers
In deriving the stock value of a company, analysts project the expected future actual dividend payments. In this case, the real rate of return discount rate should be used.
What is real rate of return?The real rate of return is the percentage rate of return that an investor receives or expects to receive or expects to receive on an inflation-adjusted investment. For example, if an investor is considering buying a bond whose nominal yield is 4% and inflation is 3% for him, the bond's real yield is 1% for him.
Is ROR the same as discount rate?Asset valuation uses the required rate of return in various kinds of calculations that help discount future values to present values. Often referred to as the discount rate, it is also used in discounted cash flow (DCF) valuations and net present value (NPV) calculations.
To learn more about rate of return visit:
https://brainly.com/question/17327471
#SPJ4
Apple's_________ to customers is specifically the design of its devices, the ease of use of its products, and the aspirational qualities its products offer the user.
Answers
Apple's value proposition to customers is specifically the design of its devices, the ease of use of its products, and the aspirational qualities its products offer the user.
What is meant by value proposition?A value proposition is a brief explanation of why a client might select your good or service. It conveys the most obvious advantage that clients get from doing business with you.
Examples of the Best Value Propositions:
The Best Way to Get Around is Using Uber.The Experience Is the Product with the Apple iPhone. UnbounceA/B Testing Without Tech Pains: Slack: Work Productivity Boost with Less Work.Digit: Money Savings Without Having to Think About ItThe four different categories of value are financial value, social value, psychological value, and functional value. Not all customers place the same value on different sources of value.
To know more about value proposition refer to: https://brainly.com/question/7594107
#SPJ4
Apple's value proposition to customers is specifically the design of its devices, the ease of use of its products, and the aspirational qualities its products offer the user.
What is meant by value proposition?A value proposition is a brief explanation of why a client might select your good or service. It conveys the most obvious advantage that clients get from doing business with you.
Examples of the Best Value Propositions:
The Best Way to Get Around is Using Uber.The Experience Is the Product with the Apple iPhone. Unbounce: A/B Testing Without Tech Pains.Slack: Work Productivity Boost with Less Work.Digit: Money Savings Without Having to Think About ItThe four different categories of value are financial value, social value, psychological value, and functional value. Not all customers place the same value on different sources of value.
To know more about value proposition refer to: https://brainly.com/question/7594107
#SPJ4
Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
To learn more about Stocks follow the link.
https://brainly.com/question/14649952
#SPJ2
What does good customer service include?
Answers
Answer:
Before entering an interview for a customer service job, get a handle on what good customer service means to you. Good customer service typically means providing timely, attentive, upbeat service to a customer, and making sure their needs are met in a manner that reflects positively on the company or business. Explanation: it is
Answer:
Great customer service means following best practices like valuing customers' time, having a pleasant attitude, and providing knowledgeable and resourceful resources, but that you also take things a step further to exceed — rather than just meet — expectations.
Explanation:my mom works for customerservice
name two of accounts used in commercial banks
Answers
Saving account
Which of these is an example of physical security threat?
A. Cyber theft
B. Vandalism
C. Forgery
D. Hacking
Answers
Answer:
B. Vandalism
Explanation:
Took the test
Vandalism is an example of a physical security threat. Thus, option D is correct.
What is a security threat?Social engineering, or the practice of tricking people into divulging private details, hitting on malicious links, or granting access to secure systems, is the main cause of security hacking. The danger is the possibility of loss, devastation, or damage to info or belongings as a result of an online cyber-threat. On the reverse hand, a threat increases the likelihood of a negative outcome,
Vandalism is defined as deliberate harm or damage of private or public assets. The phrase covers vandalism, including graffiti and defacing of any property against the owner's consent.
While cybersecurity focuses on protecting intangible possessions like data and relationships, physical security is concerned with safeguarding tangible assets like structures and machinery
Therefore, option D is correct.
Learn more about a security threats, here:
https://brainly.com/question/31359569
#SPJ5
problems of the public sector provisioning
Answers
Answer:
erms in this set (6)
lack of accountability. nepotism, corruption, incompetence.
Inefficiency. Bureaucracy. ...
Difficulty in assessing needs. prone to under-or over-supplying public goods.
Pricing policy. prices can be over or under valued.
Parastatals. inefficient and in need of bailouts.
Privatisation.
Explanation:
Have a nice day, honey. ^_^ ^﹏^
Who are the majority of businesses in resort towns targeted to?
O
seniors
O
tourists
O
employees
investors
Answers
The majority of businesses in resort towns target tourists.
Who is the luxury hotel industry's target customer?As you can see, a wide range of people from across all walks of life who are prepared to pay a little extra for the luxury hotel experience makes up the target audience for luxury hotels.
What advantages come from forming and focusing on prospect groups?Overall, specialization is the main advantage of identifying and pursuing niche markets. Finding more wealthy guests who will gush about your hotel will be easier if you can be more precise with your market segmentation.
To know more about tourists visit:
https://brainly.com/question/27993350
#SPJ1
under the omnibus crime control and safe streets act of 1968, what are employers allowed to do?
Answers
Answer:only monitor phone calls for compliance
Explanation:
4. What is the law of demand?
Answers
Answer:
The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded. This occurs because of diminishing marginal utility.
A binding price ceiling is a mandated _______.
A. maximum price above the market equilibrium price
B. minimum price above the market equilibrium price
C. maximum price below the market equilibrium price
D. minimum price below the market equilibrium price
Answers
A binding price ceiling is a mandated "maximum price below the market equilibrium price."
This is because a binding price ceiling is a point at which the price of certain commodities can not rise above the market equilibrium price.
The binding price ceiling is usually set by the government rather than the force of demand and supply.
The binding price ceiling has negatives, such as leading to a shortage of supply.
Hence, in this case, it is concluded that the correct answer is option C.
"maximum price below the market equilibrium price."
Learn more here: https://brainly.com/question/14689852
Answer:
I took the quick check. brainliest would be nice
Explanation:
1: C- maximum price below the market..
2:C- producers from low market..
3: C- led to a shortage as prices are kept from rising....
4: D- a price ceiling of 1,000
5: A- the surplus resulting from the price floor...
institutional advertising
Advertising that promotes a concept, idea, philosophy or the goodwill of an industry, company, organization, person or government agency
Answers
Institutional advertising often employs emotional appeals, storytelling techniques, and imagery to convey its message effectively. It can be conducted through various media channels such as television, print media, digital platforms, and public relations activities.
Institutional advertising refers to a type of advertising that focuses on promoting a concept, idea, philosophy, or the goodwill of an industry, company, organization, person, or government agency, rather than specific products or services. The primary goal of institutional advertising is to shape public perception, build a positive image, and establish a favorable reputation for the entity being advertised.
Unlike product-specific advertising, which aims to generate immediate sales or create awareness about specific offerings, institutional advertising seeks to enhance the overall perception and credibility of the entity itself. It may emphasize corporate values, social responsibility initiatives, corporate culture, or industry-wide benefits. The purpose is to establish trust, credibility, and a positive association with the entity in the minds of the target audience. By engaging in institutional advertising, organizations aim to build long-term relationships, enhance their brand equity, and gain support and loyalty from stakeholders.
Learn more about Institutional advertising visit:
brainly.com/question/32091932
#SPJ11
a building was sold for $60,000, with the purchaser putting 10% down and obtaining a loan for the balance. the lending institution charged a 1% loan origination fee. what was the total cash used for the purchase?
Answers
The total cash used for the purchase of the building along with down payment will be equal to $6540.
Whenever an individual decides to buy any building then he may split the total payment by giving some down payment and rest payment can be given later with some amount of interest. Now from the given data first we will calculate the down payment.
The down payment on the building = $60,000 x 10% = $6000
The loan amount will be = $60,000 - $6,000 = $54000
The origination fee was 1% of the loan amount, so the fee will be
= $54,000 x 1% = $540
The total cash used for the purchase was the down payment plus the origination fee, or $6,000 + $540 = $6540
Learn more about Down payment at:
brainly.com/question/1698287
#SPJ4
fiscal policy refers to the idea that aggregate demand is affected by changes in
Answers
Fiscal policy refers to the idea that aggregate demand is affected by changes in Government spending and taxes.
What is fiscal policy?Fiscal Policy refers to government policy of using tax and spending to meet economic goals.
Here, a government adjusts its spending levels and tax rates to monitor and influence a nation's economy.
Hence, Fiscal policy refers to the idea that aggregate demand is affected by changes in Government spending and taxes.
Learn more about fiscal policy here : https://brainly.com/question/6583917
#SPJ1
write short notes by Napier bone
Answers
Answer:
Napier's bones is a manually-operated calculating device created by John Napier of Merchiston, Scotland for the calculation of products and quotients of numbers. The method was based on lattice multiplication, and also called 'rabdology', a word invented by Napier. Napier published his version in 1617.
At Hawkeye Security the basic professional grade security system has a cost of $812, a replacement cost of $775, a net realizable value of $800, and a normal profit margin of $50. Hawkeye Security would record ___ as the inventory value for this product using the lower-of-cost-or-market rule.
A :$762
B :$775
C :$800
D :$812
Answers
Using the lower-of-cost-or-market criteria, Hawkeye Security would enter $750 as the inventory value for this commodity. However, the options provided do not include this value. The value of $762 (Option A) is the option that comes closest to the computed LCM.
To determine the inventory value using the lower-of-cost-or-market (LCM) rule, you need to compare the cost, market value, and the ceiling and floor values.
1. Cost: $812
2. Market value: The net realizable value is $800
3. Ceiling: Net realizable value - Normal profit margin = $800 - $50 = $750
4. Floor: Replacement cost = $775
Next, compare the market value to the ceiling and floor values. The market value of $800 is higher than the ceiling value of $750, so we will use the ceiling value. Since the ceiling value of $750 is lower than the cost of $812, we will use the ceiling value as the LCM.
Therefore, Hawkeye Security would record $750 as the inventory value for this product using the lower-of-cost-or-market rule. However, this value is not listed in the given options. Among the provided options, the closest value to the calculated LCM is $762 (Option A).
For more such questions on value , click on:
https://brainly.com/question/29332964
#SPJ11
Addison Company experienced an accounting event that affected its financial statements as indicated below: Assets Stockholders' = Liabilities + Equity Revenue + Expense Net Income Stat + + +Which of the following accounting events could have caused these effects on Addison's financial statements? Multiple Choice O Collected cash from accounts receivableO Earned revenue on accountO Collected cash from accounts receivable O Earned revenue on account O Issued common stock O Earned cash revenue
Answers
The following accounting event that the Addison Company encountered had an impact on its financial statements: Assets Stockholders' = Revenue + Expense Net Income Statue + + +, The right response is earned income on account.
Explain Which accounting event appears on Addison's financial accounts as a result of earned revenue on account?The following accounting event appears on Addison's financial statements as a result of earned revenue on account.
Accounting is a term used to refer to the measurement, processing, and verbal transmission of economic and non-economic data about financial institutions such as corporations and agencies. Accounting, also known as the "language of business," measures the results of an organization's financial activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators.
Professionals in accounting include accountants. The terms accounting and financial reporting are frequently used synonymously. Tax accounting, fee accounting, financial accounting, and control accounting are only a few examples of the several categories into which accounting can be split.
To learn more about accounting visit:
https://brainly.com/question/25161518
#SPJ4
Example metrics of success for usability testing
Answers
Usability testing is a critical aspect of the user-centered design process that aims to evaluate the effectiveness, efficiency, and satisfaction of a product. Some example metrics of success for usability testing include task completion rate, time on task, error rate, user satisfaction, and user retention rate.
To measure the success of usability testing, it is important to define relevant metrics that reflect the goals of the testing process. Task completion rate measures the percentage of users who can complete a specific task successfully, while time on task evaluates the amount of time users take to complete a task.
Error rate measures the number of errors users make while completing a task, and user satisfaction assesses how satisfied users are with the product. Finally, the user retention rate evaluates the percentage of users who continue to use the product after the testing process. By tracking these metrics, usability testers can determine the effectiveness of their design choices and make informed decisions to improve the product.
You can learn more about Usability testing at: brainly.com/question/28807738
#SPJ11
Last year, Rec Room Sports reported earnings per share of $9.10 when its stock price was $282.10. This year, its earnings increased by 20 percent. If the P/E ratio remains constant, what is likely to be the price of the Stock? (Round your answer to 2 decimal places.)
Answers
Answer:
The correct answer is "$338.52".
Explanation:
The given values are:
Market price,
= $282.10
Earning per share,
= $9.10
Earning increased,
= 20%
As we know,
⇒ \(PE \ ratio=\frac{Market \ price}{Earning \ per \ share}\)
On substituting the given values, we get
⇒ \(=\frac{282.10}{9.10}\)
⇒ \(=31\)
Current year earnings,
= \(9.10\times 120 \ percent\)
= \(10.92 \ per \ share\)
Thus,
⇒ \(31=\frac{Market \ price}{10.92}\)
⇒ \(Market \ price = 31\times 10.92\)
⇒ \(=338.52\) ($)
Explain the criticisms of labor unions today. 25 POINTSS
Answers
One major criticism of labor unions today is that they have become too large and are out of touch with workers’ needs. In the past, union leadership has shown a pattern of corruption and many people worry that this trend continues today. Some people argue that union activity has hurt the US economy; higher union wages have meant higher prices for consumer goods and the introduction of improved technology has been slow as unions fear it will result in fewer employees.
SAMPLE RESPONSE ANSWERS WILL VARY
HOPE THIS HELPS!!!! :)
<3333333333333
Checking account transactions are NOT reported to the credit bureaus and do not affect your credit score. Why is it still important to manage your checking account well?
Answers
Answer: Too see if anyone is stealing or charging extra fees
Explanation:
5) Si tuvieras que hacer un presupuesto de Ingresos y uno de Gastos ¿Cuál harías primero y que te sirva de base para hacer el otro? Explica tu respuesta
Answers
Answer:
Si tuviese que hacer un presupuesto de ingresos y uno de gastos, primero haría el de ingresos. Así, podría tener en cuenta la cantidad de dinero que mes a mes ingresa en mi patrimonio y de esta manera organizar mis gastos teniendo en cuenta no gastar mas dinero del que gano mensualmente.
Si, en cambio, organizara mis gastos antes que mis ingresos, me vería limitado posteriormente a realizar algunos gastos dado que no habría contemplado mi liquidez financiera mensual.
The monetary value of what a firm received for goods sold, services rendered, and other payments is termed:.
Answers
Answer:
Revenue?
Explanation:
Revenue is the monetary worth of what a company receives for items sold, services given, and other payments.
What is the revenue?The total amount of income earned by the sale of goods or services connected to the company's principal operations is referred to as revenue. Because it appears at the top of the income statement, revenue, also known as gross sales, is sometimes referred to as the “top line.”
Revenue refers to the overall earnings generated by a company via its primary operations, such as product or service sales, property leases, recurring payments, interest on borrowings, and so on. It is also defined as monetary value of what a company receives in exchange for goods sold, services rendered, and other payments.
It is calculated before any expenditures, like as discounts and refunds, are deducted. Sales, money from fees, and income created by property are all examples of revenue.
Therefore, it is revenue.
Learn more about the revenue, refer to:
https://brainly.com/question/8645356
#SPJ2