Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $208,000 were on hand. Not included in the physical count were $22,000 of goods purchased from Wildhorse Co., FOB, shipping point, and $24,500 of goods sold to Waterway Industries for $35,000, FOB destination. Both the Wildhorse purchase and the Waterway sale were in transit at year-end. What is the ending inventory
Answers
Sheffield Corp. ending inventory, based on physical inventory take on December 31 is $219,500.
Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $208,000 were on hand. Not included in the physical count were $22,000 of goods purchased from Wildhorse Co., FOB, shipping point, and $24,500 of goods sold to Waterway Industries for $35,000, FOB destination.
Both the Wildhorse purchase and the Waterway sale were in transit at year-end.
The ending inventory of Sheffield Corp. can be calculated as follows:
Ending inventory = Physical inventory + Purchase in transit - Sales in transit
In the given case,
Physical inventory = $208,000
Purchase in transit = $22,000
Ending inventory = $208,000 + $22,000 - ($35,000 - $24,500)
Ending inventory = $208,000 + $22,000 - $10,500
Ending inventory = $219,500
Therefore, the ending inventory of Sheffield Corp on December 31. is $219,500.
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Related Questions
Discussion Prompt
Give an example of the price of a good changing. Explain what determinant of supply or demand you think led to this change. (For example, the price of laptop computers has decreased in recent years due to technological change.)
Answers
(a) An example of the price of a good changing is the price of laptop which has been changing due to the increase need by its users.
(b) A major determinant factor which has been affecting the price of laptops include its price and high level of technological advancement.
Understanding the determinant factors which affects the price of commodities in the labour market.There are several factors which usually, frequently and most of the time affect the supply or demand of a particular commodity. These factors include:
The price of the commodity The prce of others related commodities.Technological advancementGovernment policiesNatural conditions.As a result of the fact that people demand alot for laptops, it price changes from time to time in order to meet its supply.
That being said, because the internet is the future, many now need laptops to access or trap into several online opportunities which in the long run affect the price, demand and supply of laptops and other commodities.
In conclusion, the determinant of demand and supply which led to decrease in price of laptop computers is technological change because at improved technology, the cost of producing laptop decrease thereby causing a decrease in price of laptop and increase in demand for laptop.
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During demo days, the project team should do the following when they are reviewing packages except:
a.
Compare fits and gaps
b.
Use different teams to view the ERP software depending on the module
being demoed
c.
Use a weighted score sheet when ranking vendors
d.
Require vendors to demo with the company (buying firm’s) data
Answers
During demo days, the project team should do the following when they are reviewing packages except use different teams to view the ERP software depending on the module being demoed.
Demo Days, often known as Software Demos, are a process in which an organization may determine which technology solution best suits its needs. It involves a variety of software providers giving demonstrations of their software to show their capabilities and suitability to potential customers. It's a crucial aspect of the software selection process since it gives the project team a chance to ask questions, evaluate the software, and see how it fits into the organization. The project team should do the following when reviewing packages on demo days: They should compare fits and gaps. After receiving a product demo, the project team should use a score sheet to evaluate the ERP vendors. This allows for easy comparison of goods and services. They should use a weighted score sheet when ranking vendors. ERP vendors' strengths and weaknesses should be compared using a weighted scorecard, which assigns varying degrees of importance to each evaluation category. By employing a weighted score sheet, the project team can ensure that they are comparing apples to apples. Require vendors to demo the company's (buying firm's) data.
The purchasing company should require the vendor to provide a demonstration utilizing its own data in order to assess the software's efficacy and see how it performs under particular circumstances. Using different teams to view the ERP software depending on the module being demoed is not required during demo days. Instead, during demo days, the team should have the same core project team to ensure that each software demonstration is evaluated in a comparable manner.
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yui is working on a new marketing campaign and has decided to form a team to help with this process. what are the advantages of using a team for the marketing decisions?
Answers
The primary advantage of using a team for marketing decisions is that it allows for a variety of perspectives to be considered in the decision-making process.
About marketing decisionWhen more than one person is involved in a decision, a wider range of ideas and perspectives can be taken into account. This can lead to decisions that are more creative, effective, and successful in the long-run.
Additionally, having multiple people on the team can help ensure that all possible outcomes and potential consequences of a decision have been taken into consideration, leading to more well-thought-out decisions.
Teams also have the advantage of allowing members to specialize in their areas of expertise. This ensures that each person can make the best possible contributions to the decision-making process. In addition, teams allow for members to be held accountable for their actions, which encourages responsible decision-making and problem solving.
Finally, teams also allow for members to provide emotional and moral support to each other during the decision-making process, creating a more positive environment for productive conversations and ideas.
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What is an externality?
Answers
Answer:
An externality is a cost or benefit caused by a producer that is not financially incurred or received by that producer. An externality can be both positive or negative and can stem from either the production or consumption of a good or service.
Explanation:
can someone recommend me some research topics for economics.would really appreciate if it is in a list
Answers
Explanation:
here are some research topics for economics::
1. The effect of income changes on consumer choices
2. The effect of labor force participation on the economy and budget – A comparison
3. The impact of marital status on the labor force composition: A case of [your country] economy
4. The difference in the consumption attitude in [your country] over the last decade – Critical analysis of consumer behavior trends
5. The relationship between salary levels and ‘economic convergence’ in [your country]?
6. Analyzing salary inequalities in [your country] and the forces behind such inequalities.
7. The evolution of consumption in [your country] over the last 10 years: Trends and consumer behavior.
8. Dynamics of the Gini index as a reflection of the problem of inequality in income
9. Cashless economy: The impact of demonetization on small and medium businesses
10 Privatization of Public Enterprises and its implications on economic policy and development
The value of a share of common stock depends on the cash flows it is expected to provide, and those flows consist of the dividends the investor receives each year while holding the stock and the price the investor receives when the stock is sold. The final price includes the original price paid plus an expected capital gain. The actions of the marginal investor determine the equilibrium stock price. Market equilibrium occurs when the stock's price is -Select- its intrinsic value. If the stock market is reasonably efficient, differences between the stock price and intrinsic value should not be very large and they should not persist for very long. When investing in common stocks, an investor's goal is to purchase stocks that are undervalued (the price is -Select- the stock's intrinsic value) and avoid stocks that are overvalued. The value of a stock today can be calculated as the present value of -Select- stream of dividends:
Answers
Answer:
marginal investor
equal
less
infinite
Explanation:
the value of a stock depends on the sum of the value of the dividend yield and capital gains yield
dividend yield = dividend / price of the stock
capital gains yield is a change in the value of the stock as a result of appreciation in the value of the stock.
The intrinsic value of a stock can be calculated using various dividend models. some of them include :
The Gordon constant growth dividend model The two stage dividend growth model The H-model The three stage dividend growth modelThe market is in equilibrium when price equal intrinsic value
a stock is undervalued when the price of the stock is less than its intrinsic value
A stock is overvalued when the price of the stock is greater than its intrinsic value.
An investor would want to purchase a stock that is undervalued so that they can take advantage of increase in the value of the stock
Th dividend used to calculate the intrinsic value is infinite. This is because dividends are paid infinitely as long as the investor holds the stock and the company exists
Madison warks 40 hours per week regularly, at a rate of $12.20 per hour. when she works overtime, her rate is the and a half of her regular hourly rate. what is madison's hourly overtime rate?
Answers
Madison's hourly overtime rate would be $18.3.
The number of hours a worker works in excess of what is required for a typical workweek is calculated as their overtime rate. Depending on how overtime is defined by local labour laws, this rate may signify different things in various nations and jurisdictions.
The FLSA specifies that the formula for determining overtime pay is the nonexempt employee's usual rate of pay multiplied by 1.5 times the number of overtime hours worked. In states with rules like double time, which are more advantageous to the employee, this computation might be different.
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Suppose Monique is willing to pay up to $15,000 for a used Ford pick-up truck. If she buys one for $12,000, her economic ______ would be ______.
Answers
Because Monique is willing to pay $12,000 for the pick-up truck, her economic surplus would be $3,000 if she buys for that amount instead of $15,000.
What is an economic surplus?This refers to the gain obtained by a buyer after they purchase a product for a price that is less than the initial price.
Hence, the word "surplus" and "$3,000" is correct.
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determine whether each of the following is a paycheck deduction or an employee incentive
401(k)
FICA
Medicare
life insurance
Social security
Answers
Answer:
See below
Explanation:
A paycheck deduction is a compulsory deduction imposed on all employees by the federal or state government. For a paycheck deduction, the employee has no option but to pay. The amount payable is a percentage base on the gross pay. The federal or state government set the percentage to be deducted.
From the List paycheck deduction are
Medicaresocial securityEmployee incentives are benefits offered to employees by their employer. Incentives motivate employees to work hard, save for retirement, or promote employees' welfare.
Incentives in the list are
401(k) Life insuranceAnswer:
Employee incentive: 401 (k), life insurance
Paycheck deduction: Social security, Medicare, FICA
Explanation:
Hope it helps
What savings account generally pays the least amount of interest of all savings options?
account
Answers
Answer:
Regular savings accounts
Explanation:
Regular savings accounts are also called deposit savings accounts. They are the easiest way to save money in a bank or credit union and receive interest. These types of accounts require a small deposit to open, and the minimum balance is also low. One can avoid monthly charges by maintaining the minimum balance at all times.
The deposit/regular savings accounts are very liquid. Most banks will not have restrictions on the number of deposits and withdrawals per period, say a month. Due to this feature, these accounts earn the lowest interest compared to the other savings accounts. Deposit/ regular accounts are also referred to as transactional savings accounts.
The other types of savings accounts include Money market accounts and Certificates of deposit accounts.
Why has leadership become required for survival?
Multiple Choice
O Otherwise organizations become chaotic.
O Because businesses dominate the economic landscape.
O Since the business world is less volatile.
O Because more changes are needed.
O Due to organizations being too complex.
Answers
The correct response is d) Because more changes are needed. The same thing as last year (or doing it 5% better) is no longer a successful strategy as the corporate world has gotten more competitive and volatile. For survival, more changes are necessary, which is why leadership is essential.
In the face of uncertainty, a strategy is a broad plan to carry out one or more long-term objectives or overall goals. It wasn't until the 18th century that the phrase was translated into Western vernacular languages in the sense of the "art of the general," This comprised several subgroups of abilities, such as military strategy, siegecraft, logistics, etc. The term initially appeared in terminology from the Eastern Roman Empire around the sixth century C.E. Since then and throughout the 20th century, the word "strategy" has come to mean "a comprehensive way to try to attain political aims, including the threat or genuine application of force in a "dialectic of wills" during a battle in which all sides are involved. Strategy is crucial because there are typically few resources available to accomplish goals.
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Select the qualification that is best demonstrated in each example.
Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
Charlene is a Highway Maintenance Worker who stays on task while working by herself.
Floyd is a Repair Worker who lifts heavy objects.
Pedro is a Mechanical Door Repairer who explains a problem to a customer.
Answers
Answer:
Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
Explanation:
The qualification that is best demonstrated out of all the options would be that Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
Charlene's ability to stay on task has no direct correlation with being a highway worker.
Floyd's ability to lift heavy objects also has no direct correlation with being a repair worker.
Pedro's ability to explain a problem to a customer has no direct bearing on being a mechanical door repairer.
The only option with direct correlation is a stationary engineer's ability to figure out what is wrong with machinery for heating a building. A stationary engineer is also known as operating or power engineer.
Answer:
Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.
✔ problem-solving skills
Charlene is a Highway Maintenance Worker who stays on task while working by herself.
✔ independence
Floyd is a Repair Worker who lifts heavy objects.
✔ physical strength
Pedro is a Mechanical Door Repairer who explains a problem to a customer.
✔ communication skills
Explanation:
Hopes this helps you :)
What is Porter’s Value Chain Model. Explain the Role of
Information Systems in Value Chain Analysis.
do it as soon as possible within 10 minutes
Answers
Porter's value chain model is a business strategy paradigm and role of information systems in value chain analysis is used to analyze data and to differentiate and organize business functions.
This model is known as a business strategy paradigm and it examines the company operations in order to determine its competitive advantage. It is made up of the primary activities that are directly related to production and delivery and the secondary activities that enable the execution of the primary activities.
In the value chain analysis the role of information system is employed for analysing current sales and data that is related to marketing , to find specialised targets for a service or goods that a business can serve better.
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The histogram and box plots below show the distribution of finishing times for male and female winners of the New York Marathon between 1970 and 1999.
Answers
Answer:
Kindly check explanation
Explanation:
A.)
From the histogram, the number of runners who made a certain range of Runtime can be easily deduced on the y-axis of the histogram, which isn't possible on the boxplot.
Summary statistic such as lower quartile, median and upper quartile statistics including outliers can be deduced easily from the boxplot.
B.)
Bimodal distribution occurs when two different groups or class have the highest number of values in a distribution.
C.)
The distribution of marathon times for men is fairly normally distributed while that if women is skewed.
The minimum and maximum values in the women's distribution is greater than the minimum and maximum values in the men's distribution.
The women's distribution has greater variance than the men's distribution. (greater range value).
Marketing has not always been viewed as an important part of business.
O True
O False
Answers
This is true that marketing has not always been viewed as an important part of business.
What is marketing?Marketing has not always been viewed as an important part of business. In fact, in the early days of capitalism, businesses primarily focused on production and viewed marketing as a secondary activity. It was not until the early 20th century that marketing began to be recognized as a distinct and important function of business.
The emergence of mass production, mass communication, and mass distribution systems in the early 20th century created a need for businesses to differentiate themselves from their competitors and reach out to their target customers through advertising and other promotional activities. This led to the growth of the advertising industry and the development of marketing as a key business function.
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Which economic tool would most likely be used as part of an expansionary
monetary policy?
O A. Selling treasury securities
B. Raising the reserve requirement
C. Reducing the discount rate
D. Increasing interest on reserves
Answers
Answer:
C. Reducing the discount rate
Explanation:
Expansionary monetary policies are macroeconomic undertakings by the Federal Reserve that aim at stimulating economic growth in the economy. Expansionary policies result in an increased flow of money in the country, which increases the aggregate demand.
The discount rate is the rate at which the Federal Reserve (the Fed ) charges commercial banks for advancing them credit. Reducing the discount rate makes loans from the Fed more affordable. Commercial banks will opt to borrow from the Fed at lower rates and lend out to households and firms at a higher interest rate, thereby making profits. Reducing the discount rate increases the money available for banks to lend out. Households and businesses will borrow this money for development and investments, which ignites economic growth.
Answer:
reducing the discount rate
Explanation:
ap3x
You have the best chance of getting your money back from a scam if what
happened?
You did authorize the payment.
You called the police,
You didn't authorize the payment.
You were using a secure connection,
Answers
Answer:
I'm guessing called the police?? or i don't know tho
will give brainliest if correct (repost)
Answers
Answer:
decrease in demanded
Explanation:
the green one is the answer
Answer:
The other person is correct
Explanation:
have a great rest of your day :)
What are your concerns about taking standardized tests?
Answers
Answer:
bc they are standardized
Explanation:
the pressure to want to feel normal on top of the pressure of the fact u not good at testing bc of that pressure alone. mentally not the best choice xd !!!!!¡¡¡¡
Shares of apple are currently trading at approximately $129. Placing an order to buying 1000 shares but only when the stock price hits $125 is known as a.
Answers
Shares of apple are currently trading at approximately $129. Placing an order to buying 1000 shares but only when the stock price hits $125 is known as a Limit Order.
A limit order is a buy/sell order that specifies a maximum price to be paid or a minimum price to be received for a stock (the "limit price"). Only at the specified limit price or better will the order be filled.
A limit order advises your broker to fill your buy or sell order at a certain price or better and is visible to the market. When a stop price is reached, a stop order, which is invisible to the market, activates a market order.
An order to purchase or sell a security at a certain price or higher is known as a limit order. Only at the limit price or lower can a purchase limit order be fulfilled, and only at the limit price or greater can a sell limit order be fulfilled. Example: A buyer wishes to pay no more than $10.28 a share for shares of ABC stock.
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The complete question is ''Shares of Apple are currently trading at approximately $129. Placing an order to buying 1000 shares BUT only when the stock price hits $125 is known as a
A) Stop-Loss Order
B) Market Order
C) Limit Order
D) Shorting
What type of economy does the United States have?
A. Command
B. Market
C. Mixed
Answers
Answer:
The United States has a mixed economy
Answer:
Mixed
Explanation:
Created by the United States Constitution, the U.S. has a mixed economy, meaning that it combines elements of the command and market economic models.
question 10 you have a treasury bond that pays \$100$100 one year from today and \$1,100$1,100 two years from today. you notice that the yield-to-maturity on a one year-zero coupon treasury bond is 1\%1% and the yield-to-maturity on a two year-zero coupon treasury bond is 2\%2%. what should the price of your bond be?
Answers
According to given data of treasury bond, Price of 1 year ZCB = 99 and Price of 2 year ZCB = 1057.29
What is a Treasury Bond (T-Bond)?Treasury bonds, also referred to as T-bonds, are debt instruments issued by the U.S. Federal Government having maturities more than 20 years. T-bonds earn interest on a regular basis until they mature, at which point the owner is also given the principle sum.
Briefing :YTM on one year ZCB = 1%
YTM on two year ZCB = 2%
Maturity value of one year ZCB = 100
Maturity value of two year ZCB = 1100
Price of bond = Maturity Value / (1+YTM)n
Therefore,
Price of 1 year ZCB
Price of 1 year ZCB = 100/(1+0.01)
Price of 1 year ZCB = 99
Price of 2 year ZCB
Price of 2 year ZCB = 1100/(1+0.02)²
Price of 2 year ZCB =1057.29
Price of 1 year ZCB = 99
Price of 2 year ZCB = 1057.29
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An investment made 10 years ago is worth $100,000. if the annual return over these 10 years was 7.20%, then the original investment amount was:
Answers
The original investment amount was $ 68.56 then annual return on investment is 10 years was 7.20% interest.
What is investment?
Investment definition is assets invested in to build wealth and save money on bank, property and projects for specific time period of money.
PV is a present value, FV is a future value, i is interest, n is number of period
PV= FV/ (1 + i) n
PV= 1, 00,000 / (1+7.20%) 10
PV =68.5650014087
As a result, the original amount of investment is 68. 56
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Andy's utility function for candy is. U(x) = 10vx. If Andy eats 64 pieces of candy,
how much utility does Andy receive?
Answers
Answer:
U(x) = 10vx. If Andy eats 64 pieces of candy,
Explanation:
6.Elizabeth's credit card bill elizabeth just received her credit card bill. She calculates the compound interest on her bill and considers the payments she could make. If she pays the minimum payment of $45, it will take her five years to bring her balance to $0. How can Elizabeth most responsibly pay off her bill sooner ?
Answers
Answer: pay more than the minimum payment each month
Explanation:
For Elizabeth to responsibly pay off her bill sooner, she has to pay more than the minimum payment each month.
It should be noted that if she continues paying the minimum monthly payment, it'll take her five years and collecting a loan isn't appropriate as well as she will still have to pay back the loan and incur more debt.
Therefore, she should pay more than the minimum amount as that'll make her pay quicker.
Find the area of a rectangle with the length measuring 8 km and the width measuring 5 km.
A. 26 m2
B. 40 m2
C. 40 km2
D. 26 km2
Answers
Answer:
The answer is C. 40 km^2
8km*5km = 40
A = L*W
L = 8 km
W = 5 km
how to tell if two goods are substitutes or complements from demand function
Answers
Cross-price elasticity determines substitutes or complements from demand functions. Positive value indicates substitutes, negative indicates complements.
To determine whether two goods are substitutes or complements using demand functions, you can examine the signs and magnitudes of the cross-price elasticities.
1. Substitutes: If an increase in the price of one good leads to an increase in the quantity demanded of the other good, they are considered substitutes. In the demand function, the cross-price elasticity of demand should be positive. A higher positive value indicates a stronger degree of substitution.
2. Complements: If an increase in the price of one good leads to a decrease in the quantity demanded of the other good, they are considered complements. In the demand function, the cross-price elasticity of demand should be negative. A more negative value indicates a stronger degree of complementarity.
To calculate the cross-price elasticity of demand, you need the demand function for each good and the prices of both goods. The cross-price elasticity is given by the formula:
Cross-price elasticity = (% change in quantity demanded of one good) / (% change in price of the other good)
If the cross-price elasticity is positive, the goods are substitutes. If it is negative, the goods are complements.
It's important to note that the interpretation of substitutes and complements may also depend on the context and specific market conditions. Market research and consumer behavior analysis can provide additional insights into the relationship between two goods and whether they are substitutes or complements in practice.
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The price of a stock is $64. A trader buys 1 put option contract on the stock with a strike price of $60 when the option price is $10. When does the trader make a profit? A. When the stock price is below $60 B. When the stock price is below $64 C. When the stock price is below $54 D. When the stock price is below $50
Answers
The trader makes a profit when the stock price is below (C) $54.
To explain this, let's break down the information given:
- Stock price: $64
- Trader buys 1 put option contract with a strike price of $60
- Option price: $10
A put option contract gives the trader the right to sell the stock at the strike price. In this case, the trader can sell the stock at $60.
However, they paid $10 for the put option, so they need the stock price to be below $60 minus the option price ($10) to make a profit.
Therefore, the trader makes a profit when the stock price is below $54 (Option C).
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what is the difference of communism and socialism?
Answers
For socialism there is limited Private owner ship, government and private entities,Limited class distinctions and production for societal needs .
Rich is the highest-paid quarterback in the league, at $5 million per season. Rich is an eight-year pro and has yet to reach the playoffs. Rich's hometown team, the Whalers, are interested in him. If the Whalers sign Rich for $2.5 million per year, how much is the annual "hometown discount" that the Whalers will receive?
Answers
Answer:
$2,500,000
Explanation: