On April 24 of the current year, The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory. At the beginning of April, the company reported beginning inventory of $226,750. Inventory purchased during April (until the date of the tornado) was $197,800. Sales for the month of April through April 24 were $642,500. Assuming the company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the tornado.
A. $217,950
B. $157,788
C. $212,275
D. $321,250
E. $103,300
Answer: E
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Which of the following statements is true about net worth?
A. A firm's net worth should be higher than the stockholders' equity. B. A firm's net worth should be equal to 50 percent of the value of the total assets of the firm. C. A firm's net worth is equal to total assets minus total liabilities. D. A firm's net worth is the amount that the firm's assets can generate on their liquidation. E. A firm's net worth is the amount to be paid by the shareholders to the firm on liquidation of the firm.
Narrative 11-1Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Inez wants to have $15,000 in 2 years. Use the present value formula to calculate how much Inez should invest now at 6% interest, compounded quarterly in order to reach her goal.
A. $13,349.95 B. $13,315.65 C. $12,231.90 D. $11,877.98
States or conditions essential to the physical or psychological well-being of a customer that are pivotal factors that shape what customers desire in a service are known as ________.
A. Personal needs B. Situational factors C. Personal service philosophies D. Perceived service alternatives E. Derived service expectations
Which of the following correctly describes multicollinearity?
A) A condition occurring when two or more independent variables in the same regression model can predict each other better than the dependent variable. B) A condition occurring when the standard residual in a regression model takes a zero value. C) A condition occurring when the value of the regression coefficient is the same for two or more dependent variables. D) A condition occurring when two or more dependent variables in the same regression model have a correlation coefficient equal to zero.