Answer: $369,500
Explanation:
The Cost concept of accounting calls for the recording of Assets at their cost.
Clementine Repair services offered to buy the land at $350,500 when it was priced at $388,500.
The seller countered with $369,500 and Clementine accepted this.
This means that Clementine bought the land for $369,500 which makes it the cost price.
They should therefore record it at $369,500.
Answer:
the income elasticity of bread is 20/39 and bread is an inferior good
Answer:
C nag sa got ko sa yo yang C DAHIL SA VARIABLE
By earning higher levels of education, students learn skills and are more likely to be employed. In their jobs, they use their skills to provide goods and services to others. The economic concept which is applied in this statement is a positive externality.
<h3>What are skills? </h3>
Skills refer a set of qualities or abilities an individual carries in order to complete the task. These skills represent the expertise of any individual in terms of knowledge and talents.
When these skills are learned along with the higher level of education it creates an add-on for the career. These skills include communication skills, problem-solving skills, critical thinking, leadership qualities, and so on.
Therefore, option E positive externality is the correct option for the given statement.
Learn more about education, here:
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Answer:
A. $650 $750 $677
Explanation:
period purchases sales
1 20 units at $50 15 units at $60
2 35 units at $40 35 units at $45
3 85 units at $30 85 units at $35
total revenue = $900 + $1,575 + $2,975 = $5,450
COGS:
- using FIFO = (15 x $50) + (5 x $50) + (30 x $40) + (5 x $40) + (80 x $30) = $4,800
- using LIFO = (15 x $50) + (35 x $40) + (85 x $30) = $4,700
- cost average = ($4,950 / 140 units) x 135 units = $4,773.21
Gross profit:
- using LIFO = $5,450 - $4,800 = $650
- using FIFO = $5,450 - $4,700 = $750
- using cost average = $5,450 - $4,773.21 = $676.79 ≈ $677
