Using the City Bicycle example, suppose the cycling store uses the weighted-average cost-flow assumption. The cost of goods sold is _____, and the ending inventory is _____
a. $2,900; $5,500
b. $2,500; $5,900
c. $3,000; $5,400
d. $2,800; $5,600
e. cannot be determined with the information given
D
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Under the periodic inventory system, the amount of inventory on hand is determined by taking a physical count of the merchandise on hand and calculating the cost of those goods
Indicate whether the statement is true or false
Legacy Industries Inc. has a historic P/E multiple of 15, a current EPS of $2.50 projected to grow by 4% in the coming year, and a forward looking P/E multiple of 18. With this information please estimate the current price of the firm's stock
A) $37.50 B) $46.80 C) $39.00 D) $48.20
Gorhan Construction, Brighton Bros., and Tirenn Construction agreed that on three upcoming projects, Gorhan would bid lowest on one, Brighton would submit the lowest bid on the second project, and Tirenn would submit the lowest bid on the third project. In this way, they would each be assured of work for the upcoming season. This behavior A)is legal and acceptable practice in the construction
industry to spread work more evenly. B)is a per se violation of the Sherman Act. C)is a rule of reason violation of the Sherman Act. D)violates ethical, but not legal, standards.
The formula for break-even point in terms of units is:
A. Total fixed costs/Unit contribution margin B. Total variable costs/Total fixed costs C. Total fixed costs/Contribution margin ratio D. Total variable costs/Unit contribution margin